Private Equity
Gravity, a Clearlake Capital Group portfolio company, said Nov. 6 that it agreed to buy On Point Oilfield Holdings LLC. White Deer Energy is the seller. Financial terms weren’t announced. On Point is a contracted produced water midstream company focused on gathering and disposal operations in the Midland Basin.
3 min read · 06 November 2019
Fengate Asset Management has acquired a Maine-based wind project from Longroad Energy Partners LLC. No financial terms were disclosed.
2 min read · 05 November 2019
Canada Pension Plan Investment Board has agreed to acquire Pattern Energy, an independent power company, in a take-private transaction for US$26.75 per share or about US$6.1 billion. CPPIB has also agreed to merge Pattern Energy with Pattern Development, which is backed by Riverstone Holdings, to create a renewal energy company. Evercore and Goldman Sachs are financial advisers to Pattern Energy's special committee on the deal with Paul, Weiss, Rifkind, Wharton & Garrison LLP serving as independent legal counsel. Pattern Energy is currently listed on the NASDAQ and Toronto Stock Exchange.
6 min read · 04 November 2019
Golden Gate Capital has sold Hillstone Environmental Partners LLC to NGL Energy Partners LP for about $600 million. Hillstone provides water pipeline and disposal infrastructure solutions to the oil and gas industry with a core operational focus on the Central Delaware Basin. Tudor, Pickering, Holt & Co. and Jefferies provided financial advice to Golden Gate Capital and Hillstone on the deal with Kirkland & Ellis LLP and Nob Hill Law Group P.C. providing legal counsel.
3 min read · 01 November 2019
Scout Clean Energy, which is backed by Quinbrook Infrastructure Partners, has provided funding for a Texas wind farm. No financial terms were disclosed. Construction of 300MW Ranchero Wind Farm, which began earlier this year, has been completed.
3 min read · 31 October 2019
Swedish engineering firm Sandvik has agreed to divest most of its drilling and completions unit to Blue Water Energy and Nixon Energy Investments for $90 million. Sandvik will retain a 30 percent stake in the company.
2 min read · 28 October 2019
Canadian investment firm CBRE Caledon closed its US$256.1 million investment in Pattern Energy, which is backed by Riverstone Holdings. CAAT Pension Plan invested alongside CBRE Caledon. Pattern Energy is an independent power company listed on the NASDAQ and Toronto Stock Exchange.
5 min read · 28 October 2019
Mubadala Investment Company has agreed to provide $50 million to NextDecade Corporation in a private placement. According to terms of the deal, NextDecade will issue common stock to Mubadala at a price of $6.27 per share. Houston-based NextDecade Corporation is a liquefied natural gas development company.
3 min read · 24 October 2019
Rock Hill Capital Group said Oct. 23 that its portfolio company, Core International LLC, has merged with Javelina Oilfield Inc. Financial terms weren’t announced. Core, of Houston, supplies engineered rubber components and supply chain solutions to a variety of industrial end-users while Javelina distributes engineered rubber and metal components to the oil and gas market.
2 min read · 23 October 2019
Ares Management Corp said Oct. 22 that agreed to sell a 22.5 percent stake in Meade Pipeline Co LLC to NextEra Energy Partners LP for about $286 million. Meade owns about 39 percent of Central Penn Line, an 185-mile pipeline that originates in Susquehanna County, Pennsylvania, and extends to Lancaster County, Pennsylvania.
3 min read · 22 October 2019
