About company
TGR is a newly organized blank check company. Although they may pursue an initial business combination in any industry, they intend to capitalize on their management team’s core competencies to focus their search in the energy and natural resources industry in North America. Their management team has extensive experience in identifying and executing large, complex transactions in the energy industry, and significant hands-on experience working with private companies in preparing for and executing an initial public offering. Their team has a history of being active owners and directors by working closely with companies to create value in the public markets. In 2017, as a part of its IPO process, KRP, which is the ultimate parent of their sponsor, negotiated the combination of assets and entities from multiple contributing parties to create the KRP public entity. They believe that this ability to form partnerships with private owners to build an entity of scale that is preferred by the public markets differentiates them as they look at potential business combinations. Their team is knowledgeable and experienced in public and private M&A dynamics across a range of sizes, and adept at using an Up-C structure such as theirs to acquire assets and businesses. KRP has a proven track record of value accretive M&A using equity as acquisition currency and of returning capital to shareholders through a variable dividend. KRP has returned ~30% of its IPO unit price via cash dividends in fewer than four years.