ARC Financial Corp., Energy Spectrum Capital (ESC), and Teachers' Private Capital closed a $330 million equity financing arrangement to form KANATA Energy Group Ltd., a new midstream infrastructure and service company.
KANATA's business operations will primarily focus on the acquisition, construction and operation of field gathering, processing and liquids extraction facilities in Western Canada.
KANATA will be led by president and CEO Kevin Cumming. He is joined by Kim Anderson as chief financial officer and Peter Real as vice president of engineering and construction. Mike Dever will serve as vice president of operations and Randy Hughes will serve as vice president of business development.
KANATA's senior management team has over a century of experience within the energy industry and a track record of building and operating small and large-scale midstream infrastructure assets in Canada, according to the release.
KANATA's board of directors includes Kevin Brown of ARC Financial as chairman, as well as Robert Cook of ARC Financial, Thomas Whitener Jr. and Mark Honeybone of ESC, Glen Silvestri and Darren Smart of Teachers' and Kevin Cumming of KANATA. The board of directors brings experience from across the North American energy industry as well as financial and capital markets expertise, according to the release.
ARC Financial Corp. is an energy-focused private equity firm based in Calgary.
Energy Spectrum Capital is a midstream-focused private equity firm based in Dallas.
Teachers' Private Capital is a private equity investor company headquartered in Toronto.