Businesswire·2025-12-16 16:09Core Viewpoint - STEP Energy Services Ltd. has successfully completed a take-private transaction with ARC Energy Fund 8, resulting in ARC Energy Fund 8 acquiring all outstanding common shares of STEP not already owned by them or related entities for cash consideration of $5.50 per share [1][2]. Group 1: Transaction Details - The acquisition was executed through a plan of arrangement under the Business Corporations Act (Alberta) [1]. - ARC Energy Fund 8 acquired 24,700,000 shares, while the Purchaser acquired 7,958,832 shares, leading to ARC Energy Fund 8 owning 70.44% of all outstanding shares post-transaction [7][8]. - Prior to the transaction, ARC Energy Fund 8 held approximately 36.56% of the outstanding shares, and together with ARC Energy Fund 6, they controlled about 55.20% [6]. Group 2: Regulatory and Compliance - STEP has applied to delist its shares from the Toronto Stock Exchange, with an expected delisting date around December 17, 2025 [3]. - The transaction triggers early warning requirements under National Instrument 62-104 and National Instrument 62-103 [2]. Group 3: Company Background - STEP is an energy services company specializing in coiled tubing, fluid and nitrogen pumping, and hydraulic fracturing solutions, primarily serving the North American market [16][17]. - The company has a strong focus on safety and quality execution, differentiating itself in high-pressure and complex well environments [16][18].