Revolution Resources’s $201.5 Million Acquisition Of Jones Energy II, Inc


Evercore and TD Securities (USA) LLC are serving as financial advisors to Jones Energy, and Baker Botts L.L.P is serving as its legal counsel. Kirkland & Ellis LLP is serving as legal counsel for Revolution.

Jones Energy II, Inc. (OTC: JEII), following a competitive auction process, announced that it has entered into a definitive merger agreement to be acquired by Revolution II WI Holding Company, LLC, an affiliate of Mountain Capital Partners, LP (“Mountain Capital”), in an all-cash transaction valued at approximately $201.5 million. Under the terms of the merger agreement, which has been unanimously approved by the Jones Energy Board of Directors and a majority of the Jones Energy stockholders, Jones Energy stockholders will receive approximately $14.11 in cash for each share of Jones Energy Class A common stock or each unit of Jones Energy Holdings II, LLC they own, as applicable. The transaction is expected to close in the first quarter of 2020.

Jones Energy is an independent oil and natural gas company engaged in the development and acquisition of oil and natural gas properties in the Anadarko basin of Oklahoma and Texas.

Revolution is an Oklahoma City based, independent oil and natural gas company engaged in the development and acquisition of oil and natural gas properties in the Mid-Continent region of the United States. Revolution is an affiliate of Mountain Capital Partners, LP, an energy focused private equity fund based in Houston, Texas with approximately $1.0 billion in assets under management.

The Baker team was led by Mollie Duckworth (Picture), Mike Bengtson, John Kaercher, Leah Leipold, Michael Portillo and Dillon Sebasco.

The Kirkland team was led by transactional partners Sean Wheeler and Cephas Sekhar and associates Camille Walker, Tyler Dunphy and Ibe Alozie; and included transactional partner Chad Smith and associates Lindsey Jaquillard and Hannah Craft; tax partners Mark Dundon, Stephen Butler and Will Dong; debt finance partners Andy Veit and Chad Nichols and associate Aisha Noor; executive compensation partner Michael Krasnovsky and associates Jake Ebers, Annemarie Mierzejewski and Lucy Frey; labor and employment partners R.D. Kohut and Madeline Stavis Klebanov.

Involved fees earner: Mike Bengtson – Baker Botts; Mollie Duckworth – Baker Botts; John Kaercher – Baker Botts; Leah Leipold – Baker Botts; Michael Portillo – Baker Botts; Dillon Sebasco – Baker Botts; Ibe Alozie – Kirkland & Ellis; Stephen Butler – Kirkland & Ellis; Hannah Craft – Kirkland & Ellis; William Dong – Kirkland & Ellis; Mark Dundon – Kirkland & Ellis; Tyler Dunphy – Kirkland & Ellis; Jake Ebers – Kirkland & Ellis; Lucy Frey – Kirkland & Ellis; Lindsey Jaquillard – Kirkland & Ellis; Madeline Klebanov – Kirkland & Ellis; R.D. Kohut – Kirkland & Ellis; Michael Krasnovsky – Kirkland & Ellis; Annemarie Mierzejewski – Kirkland & Ellis; Chad Nichols – Kirkland & Ellis; Aisha Noor – Kirkland & Ellis; Chad Smith – Kirkland & Ellis; Andy Veit – Kirkland & Ellis; Camille Walker – Kirkland & Ellis; Sean Wheeler – Kirkland & Ellis; Cephas Sekhar – Latham & Watkins;

Law Firms: Baker Botts; Kirkland & Ellis; Latham & Watkins;

Clients: Jones Energy Inc.; Revolution Resources;

Author: Ambrogio Visconti