Deal Desk

M&A deals, 28 October 2026

28 October 2026 · 3 deals

Our view: Buyers are paying for adjacency, established relationships and operating teams that would take years to build, so founders in Singapore and Southeast Asia should evidence those assets clearly to strengthen their position on price and transition terms.

1. Global · Oil and gas · approximately $890 million (C$1.26 billion), including expected Net Debt at closing

   Ovintiv agrees to acquire Montney oil producer Logan Energy Corp.

   Ovintiv Inc. will acquire all outstanding shares of Logan Energy Corp. for C$1.40 per share in cash, a transaction valued at approximately $890 million (C$1.26 billion) including expected net debt at closing. The deal adds about 266,000 net acres in the Montney oil window and roughly 20 MBOE/d of current production, with closing expected early in the first quarter of 2027.

   The Growth Alliance Capital view

   Large strategics are still paying cash to consolidate adjacent assets, a sign that scale buyers favour contiguous bolt-ons over transformational bets. Founders in Southeast Asian energy services and industrial supply chains should take the hint: buyers price adjacency and operating synergy, so the equity story should quantify both.

   Source: Ovintiv Inc. (press release, SEC Form 8-K Exhibit 99.1)

2. Global · Retail and wholesale distribution · approximately $34.0 million in cash, subject to customary adjustments

   GrabAGun Digital Holdings completes acquisition of wholesale distributor Camfour

   GrabAGun Digital Holdings Inc. completed its acquisition of Camfour LLC, a privately held wholesale distributor founded in 1952 and headquartered in Westfield, Massachusetts, on 26 October 2026. The cash consideration of approximately $34.0 million was funded from existing cash reserves with no shares issued, and Camfour generated audited net revenue of approximately $77.4 million in fiscal year 2025.

   The Growth Alliance Capital view

   A digital retailer buying a private distributor with 74 years of history shows online platforms reaching back into the supply chain for relationships they cannot code. For founder-led distributors in Southeast Asia, an established dealer network and audited accounts are what make an all-cash buyer comfortable moving quickly.

   Source: GrabAGun Digital Holdings Inc. (press release, SEC Form 8-K Exhibit 99.1)

3. Global · Marine fuels and shipping

   Alkagesta agrees to acquire Turkish bunker supplier Energy Petrol

   Malta-headquartered commodities trader Alkagesta announced on 22 October an agreement to buy Istanbul-based marine fuel supplier Energy Petrol, adding an eight-ship bunker fleet. Financial terms were not disclosed, and Energy Petrol is set to remain independently operated.

   The Growth Alliance Capital view

   A trader buying its way into physical distribution shows that acquirers will pay for owned assets and customer relationships that would take years to build. Founders of marine services and logistics businesses in Singapore and Southeast Asia should note that a buyer keeping its target independently operated is paying for the team and the brand, which strengthens the founder's hand on retention and transition terms.

   Source: IndexBox

Deal Desk summarises publicly announced transactions from the sources linked. "The Growth Alliance Capital view" is our opinion, not investment advice, and implies no involvement in any transaction mentioned.