M&A Deal Summary

Eagle Rock Energy Partners Acquires Laser Midstream Energy

On April 2, 2007, Eagle Rock Energy Partners acquired energy services and equipment company Laser Midstream Energy from Energy Spectrum Capital for 264M USD

Acquisition Highlights
  • This is Eagle Rock Energy Partners’ 1st transaction in the Energy Services and Equipment sector.
  • This is Eagle Rock Energy Partners’ largest (disclosed) transaction.
  • This is Eagle Rock Energy Partners’ 1st transaction in the United States.
  • This is Eagle Rock Energy Partners’ 1st transaction in Texas.

M&A Deal Summary
Date 2007-04-02
Target Laser Midstream Energy
Sector Energy Services and Equipment
Buyer(s) Eagle Rock Energy Partners
Sellers(s) Energy Spectrum Capital
Deal Type Add-on Acquisition
Deal Value 264M USD

Target

Laser Midstream Energy

Houston, Texas, United States
website
Laser I was founded in March 2005 to acquire and develop natural gas gathering and processing assets. Laser I's initial investment was the Panola gathering system in East Texas. Subsequently, Laser I acquired the Texas and Louisiana assets of OptiGas and the South Texas assets of HESCO. Laser I management was successful in attracting new gas to these systems, and completed several expansion projects after the systems were acquired. In 2007, the majority of Laser I's assets were sold to Eagle Rock Energy Partners and Duke Energy. and in July 12, 2010 Delphi Midstream Partners, LLC (DMP) announced today that it has completed its acquisition of Laser Midstream Energy, LP

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Buyer(S) 1

Buyer

Eagle Rock Energy Partners

Houston, Texas, United States

website

Category Company
Sector Oil/Gas Exploration
Employees600
Revenue 1.2B USD (2013)
DESCRIPTION

Eagle Rock Energy Partners, L.P. is a growth-oriented master limited partnership engaged in (a) the exploitation, development, and production of oil and natural gas properties and (b) ancillary gathering, compressing, treating, processing and marketing services with respect to its production of natural gas, natural gas liquids, condensate and crude oil.

DEAL STATS #
Overall 1 of 1
Sector (Energy Services and Equipment) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2007) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Energy Spectrum Capital

Dallas, Texas, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1995
PE ASSETS 4.5B USD
Size Large
Type Sector Focused
DESCRIPTION

Energy Spectrum Capital is a midstream private equity firm specializing in investment in buyouts and buys and build in middle-market companies. The Firm focused exclusively on the energy industry. ESC looks to make a direct investment in established companies includes oil & gas gathering and transportation systems, processing and treating facilities, storage facilities and other infrastructure facilities. ESC targets growing businesses and seeks to partner with experienced managements teams. The Firm looks to invest $50- $200 million per transaction. Energy Spectrum Capital was formed in 1995 and is based in Dallas, Texas.

DEAL STATS #
Overall 17 of 34
Sector (Energy Services and Equipment) 13 of 24
Type (Add-on Acquisition) 3 of 17
State (Texas) 8 of 18
Country (United States) 15 of 32
Year (2007) 1 of 1
Size (of disclosed) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-10-06 Dornick Hills Midstream

Dallas, Texas, United States

Dornick Hills Midstream was formed in November 2004 to acquire a natural gas gathering system and processing plant near Sherman, TX from Dynegy. The Company sold those assets to SemGas, the natural gas business unit of the SemGroup, in October 2006.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-01 TransEdge Energy

Houston, Texas, United States

In July 2007, TransEdge Energy was formed to pursue opportunities primarily in the refined products pipeline and terminal sectors. The Company currently owns refined products and propane distribution assets in New Hampshire.

Buy -
Mergr

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