Investment Summary

Haddington Ventures, NGL and Trafigura Group Pte. Invest In Sawtooth Caverns

On March 1, 2018, private equity firm Haddington Ventures, NGL and Trafigura Group Pte. invested in energy services and equipment company Sawtooth Caverns

Investment Highlights
  • This is Haddington Ventures’ 5th, NGL’s 4th and Trafigura Group Pte.’s 1st transaction in the Energy Services and Equipment sector.
  • This is Haddington Ventures’ 16th, NGL’s 7th and Trafigura Group Pte.’s 2nd transaction in the United States.
  • This is Haddington Ventures’ 2nd, NGL’s 2nd and Trafigura Group Pte.’s 1st transaction in Utah.

Investment Summary

Date 2018-03-01
Target Sawtooth Caverns
Sector Energy Services and Equipment
Investor(s) Haddington Ventures
NGL
Trafigura Group Pte.
Deal Type Growth Capital

Target

Sawtooth Caverns

Delta, Utah, United States
website
Sawtooth Caverns is a provider of natural gas liquids (NGLs) storage service in the Western United States (PADD IV and V markets). The facility currently has 5 caverns with a combined storage capacity of 6.2 million barrels, which provides storage of propane, normal butane, and refinery grade butanes. Sawtooth Caverns is based in Delta, Utah.

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Investor(S) 3

Investor

Haddington Ventures

Houston, Texas, United States

Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1998
PE ASSETS 550M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Haddington Ventures is a specialist private equity firm focused on investments in the midstream energy sector. Specific areas of interest within midstream include gathering and separation; processing treating and separation; storage; and pipelines. Haddington targets control investments that require equity investments of $20 to $70 million with an enterprise value of up to $250 million. Haddington Ventures was formed in 1998 and is based in Houston, Texas.


DEAL STATS #
Overall 17 of 17
Sector (Energy Services and Equipment) 5 of 5
Type (Growth Capital) 4 of 4
State (Utah) 2 of 2
Country (United States) 16 of 16
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-01 Tristream Energy

Houston, Texas, United States

Tristream Energy is a midstream operating company that provides gas gathering and processing services to producers from our facilities in East Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-01 Endicott Biofuels

Houston, Texas, United States

Endicott Biofuels LLC is a developer of biodiesel and bio-derived products. Endicott Biofuels is based in Houston, Texas.

Sell -
Investor

NGL

Tulsa, Oklahoma, United States

website


Category Company
Founded 1940
Sector Energy Services and Equipment
Employees842
Revenue 7.9B USD (2022)
DESCRIPTION

NGL operates a vertically integrated energy business with three operating segments: midstream, wholesale supply and marketing, and retail propane. NGL was founded in 1940 and is based in Tulsa, Oklahoma.


DEAL STATS #
Overall 7 of 10
Sector (Energy Services and Equipment) 4 of 4
Type (Growth Capital) 1 of 1
State (Utah) 2 of 2
Country (United States) 7 of 10
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-08 TransMontaigne Partners

Denver, Colorado, United States

TransMontaigne Partners is a provider of terminaling, storage, transportation, and related services to the energy industry. TransMontaigne Partners owns and operates a diversified network of midstream terminals located in strategic markets throughout the United States. TransMontaigne Partners is based in Denver, Colorado.

Sell $350M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-30 NGL Propane

Tulsa, Oklahoma, United States

NGL Propane LLC sells propane and distillates to over 316,000 residential, commercial and industrial customers. NGL Propane, with over 1,000 employees in 151 locations (including 61 satellite distribution locations) and a fleet in excess of 1,000 trucks, services 22 states in the Northeast U.S., Southeast U.S. and Upper Midwest U.S. NGL Propane, trades under prominent regional brands, including Osterman Propane, Downeast Energy, Eastern Propane, Atlantic Propane, Anthem Propane, Gas Inc. and Brantley Gas.

Sell $900M
Investor

Trafigura Group Pte.

Singapore, Singapore

website


Category Company
Founded 1993
Sector Metals/Mining
Revenue 97.2B USD (2015)
DESCRIPTION

Trafigura Group Pte. Ltd. is a multinational commodity trading company focused on trading base metals and energy. Trafigura was formed in 1993 and is based in Singapore.


DEAL STATS #
Overall 3 of 3
Sector (Energy Services and Equipment) 1 of 1
Type (Growth Capital) 1 of 1
State (Utah) 1 of 1
Country (United States) 2 of 2
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-07 Trafigura-Origo Mongolia

Mongolia

Trafigura-Origo Mongolia is a joint venture company that seeks to invest in coal, iron ore and lead-zinc opportunities in Mongolia.

Buy -