New Investment Company Launches With Eye on Energy Deals
08 Jun, 2011, 09:00 BST
THE HAGUE, The Netherlands, June 8, 2011 /PRNewswire/ --
- Sunrise Energy Group Reveals First Major Investment With UK Based Xodus Group
A new private Dutch based investment company, the Sunrise Energy Group, has launched and announced that it is actively looking for owner managed upstream energy companies to invest in.
Set up by serial entrepreneurs Edward van Kersbergen and Stephane Constant, the Sunrise Energy Group also announced a new partnership with Simmons & Company International Limited, providing advisory services for exploration and production (E&P) asset acquisitions and divestures.
Sunrise revealed its first investment deal is with Scotland headquartered energy consultancy Xodus Group in partnership with Simmons Parallel Energy Fund. Xodus will receive a total of GBP10 million from the partners to focus on further growth in the UK and internationally.
Mr van Kersbergen says that Sunrise is aiming for investments in the range of EUR2 million to EUR20 million (GBP1.7 million to GBP17 million).
He said: "Having worked together over the last 13 years building and selling oil services companies and acquiring and promoting exploration and production assets, we are very proud to be launching our new venture. The Sunrise Energy Group will focus on working with owner-managers of successful niche businesses to provide the investment to support growth. Our partnership with Simmons International will provide advisory services, expertly joining our technical and financial capabilities."
Mr van Kersbergen and Mr Constant have built up impressive credentials in the subsurface sector of the international oil and gas industry and have successfully built and sold companies.
Mr van Kersbergen began his career in 1988 with Shell working on offshore drilling rigs as a well-site operations engineer and fulfilled various roles in Scotland, London, Germany and Syria. Mr Constant started his career with ELF (now TOTAL) as a reservoir engineer responsible for various UK operated assets. Both later joined Premier Oil and worked on the Yetagun field, offshore Myanmar.
They joined forces in 2001 to co-found subsurface consultancy Horizon Energy Partners. When they sold the business to SGS in 2008, they employed 100 staff and associates with offices in The Hague, Aberdeen, Abuja and Kuala Lumpur.
In 2006, the pair founded Oyster Energy, a co-investment company for gas assets in the Dutch sector of the North Sea. This venture was sold to Elko Energy in 2009.
SOURCE Sunrise Energy Group