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Carlyle backs Avenrock’s CAD1bn Parallax acquisition

privateequitywire

2 weeks ago

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Carlyle is backing the acquisition of Canadian oil and gas producer Parallax Energy Operating by newly established Avenrock Energy, in the private equity firm’s latest move to expand its presence in the country’s energy sector, according to a report by Bloomberg.
The report cites unnamed people familiar with teh deal as saying that the transaction values Calgary-based Parallax at approximately CAD1bn ($719m). Avenrock will be headquartered in Calgary and is expected to produce around 20,000 barr...

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