HOUSTON–(BUSINESS WIRE)–Warren Equity Partners, a middle market private equity firm, announced today that it has partnered with Multifuels, L.P. to build a midstream pipeline platform. As part of the transaction, Multifuels, L.P. is contributing an existing natural gas pipeline that supplies a utility service area in Texas, and Warren Equity is contributing approximately $20 million of cash and equity commitments.
From this morning’s LBO Wire:
Oil prices have plunged again, but midmarket private equity firm Warren Equity Partners is betting that, despite pricing volatility, the nation still will need pipelines to carry oil and natural gas to end users.
The Jacksonville Beach, Fla., private equity firm teamed up with Multifuels LP to build a midstream pipeline platform called Multifuels Midstream Group, LBO Wire reports this morning. As part of the deal, Multifuels is contributing an existing natural gas pipeline that supplies a utility service area in Texas. Warren Equity is contributing about $20 million in cash and equity commitments.