Multifuels Midstream Group, LLC (“Multifuels”), a portfolio company of Warren Equity Partners, recently purchased 124 miles of high pressure gas pipeline in Central Texas from a large publicly traded Master Limited Partnership (MLP), and will repurpose the pipeline with new pipe construction; new interconnects including gas measurement and pressure regulation.
Warren Equity Partners said April 22 that it closed its investment in Hydromax USA LLX. Financial terms weren’t announced. Chandler, Indiana-based Hydromax specializes in data collection for the purposes of locating and assessing the condition of water, wastewater and natural gas conveyance systems. King & Spalding LLP acted as legal advisor to Warren Equity Partners. Jackson Kelly PLLC acted as legal advisor to Hydromax.
LOUISVILLE, Ky.–(BUSINESS WIRE)–Warren Equity Partners, a middle market private equity firm, announced today that it has completed an investment into Hydromax USA LLC (“Hydromax USA” or the “Company”), a professional services company specializing in data collection for the purposes of locating and assessing the condition of water, wastewater and natural gas conveyance systems. Financial terms of the transaction were not disclosed.
Houston-based Multifuels LP has received $20 million in cash and equity commitments from Florida-based Warren Equity Partners to launch a new midstream oil and gas company.
The new entity, Multifuels Midstream Group, will own, operate and develop lateral distribution pipelines in North America that will transport natural gas from main lines to end users. It will be headquartered in Houston.
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.