3 publicly disclosed transactions where ARC Financial played an advisory, financing or investing role, most recent first.
Oct 17, 2025
STEP Energy Services Ltd. (TSX: STEP)
Acquirer · Oilfield services
Buyer ARC Energy Fund 8 · Seller Public shareholders of STEP
ARC Energy Fund 8 agreed to take STEP private at $5.50 cash per share for the shares not already held by ARC Funds 6 and 8, which together owned about 55%. Closing was targeted for around December 16, 2025; this profile has not confirmed that it closed. RBC Capital Markets was lead financial advisor and ATB Capital Markets co-advisor to ARC.
Jun 10, 2024
Aspenleaf Energy Limited
Sponsor (GP-led secondary) · Upstream oil and gas
Buyer ARC general partner-led continuation fund and new investors · Seller ARC Energy Fund 7 investors (partial liquidity)
GP-led continuation fund recapitalizing a 25,000 bbl/d Alberta light-oil producer. It gave Fund 7 investors and co-investors over C$400 million of liquidity and raised over C$100 million of new equity; Houlihan Lokey was placement agent.
Mar 4, 2024
StormFisher Hydrogen
Investor · Low-carbon fuels (e-fuels)
Buyer ARC Energy Fund 10
C$30 million investment to develop e-fuel production facilities; the first investment from ARC Energy Fund 10, ARC's energy transition fund.
