M&A Deal Summary

EIG Global Energy Partners and Metalmark Capital Acquire Northeast Natural Energy

On March 1, 2017, asset manager EIG Global Energy Partners and private equity firm Metalmark Capital acquired oil/gas exploration company Northeast Natural Energy

Acquisition Highlights
  • This is EIG Global Energy Partners’ 8th and Metalmark Capital’s 11th transaction in the Oil/Gas Exploration sector.
  • This is EIG Global Energy Partners’ 16th and Metalmark Capital’s 54th transaction in the United States.
  • This is EIG Global Energy Partners’ 1st and Metalmark Capital’s 2nd transaction in West Virginia.

M&A Deal Summary
Date 2017-03-01
Target Northeast Natural Energy
Sector Oil/Gas Exploration
Buyer(s) EIG Global Energy Partners
Metalmark Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Northeast Natural Energy

Charleston, West Virginia, United States
Northeast Natural Energy is a private oil and gas company focused on the acquisition and development of natural gas reserves within the Appalachian Basin. Northeast Natural Energy was founded in 2009 and is headquartered in Charleston, West Virginia.

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Buyer(S) 2

Buyer

EIG Global Energy Partners

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1982
PE ASSETS 39.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

EIG Global Energy Partners specializes in private investments in energy and energy-related infrastructure around the world. Specific areas of interest include upstream oil and gas, midstream, power generation, renewables, and related infrastructure. EIG manages a variety of funds that provide hybrid debt and structured equity financing solutions to energy projects and companies. The Firm also offers credit/direct lending vehicles that target higher credit quality project finance instruments. EIG Global Energy Partners is headquartered in Washington DC.

DEAL STATS #
Overall 24 of 40
Sector (Oil/Gas Exploration) 8 of 16
Type (Buyout (LBO, MBO, MBI)) 12 of 14
State (West Virginia) 1 of 1
Country (United States) 16 of 25
Year (2017) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-28 ELC

Savannah, Georgia, United States

ELC is an LNG liquefaction facility located near Savannah, Georgia. ELC began full commercial operations in August 2020 and is comprised of 10 Movable Modular Liquefaction Units with a nameplate capacity of approximately 2.5 million tons per annum of liquefied natural gas (LNG) for export, which is equivalent to approximately 350 million cubic feet (MMcf) per day of natural gas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-19 Midship Pipeline

Oklahoma City, Oklahoma, United States

Midship Pipeline is a natural gas pipeline project to create a new firm transportation capacity of up to 1,440,000 Dth/d connecting new gas production from the emerging STACK and SCOOP plays in the Anadarko Basin in Oklahoma to growing Gulf Coast and Southeast markets via deliveries to existing pipelines (“Midship Project”).

Buy -
Buyer

Metalmark Capital

New York, New York, United States
Category Private Equity Firm
Founded 2004
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Metalmark Capital is an independent private equity group focused on large company transactions in a wide range of industries. Metalmark is a hands-on investment firm looking to build long-term value in its portfolio companies. Broad areas of interest include natural resources/energy, healthcare services, industrials, food, transportation, and financial services. Metalmark was established in 2004 by the former principals of Morgan Stanley Capital Partners to manage the Metalmark Capital and Morgan Stanley Capital Partners funds. Metalmark is based in New York City.

DEAL STATS #
Overall 58 of 60
Sector (Oil/Gas Exploration) 11 of 11
Type (Buyout (LBO, MBO, MBI)) 24 of 24
State (West Virginia) 2 of 2
Country (United States) 54 of 56
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-19 Hoffmaster Group

Oshkosh, Wisconsin, United States

Hoffmaster Group is a designer, manufacturer and supplier of decorated, premium disposable tableware (including napkins, plates, tablecovers and placemats) sold to major consumer retail and foodservice customers. The Company is highly regarded for its design and manufacturing capabilities, providing the Company with unique growth opportunities as retailers expand their seasonal and party/life celebration planograms, and as national restaurant and hospitality chains increasingly realize the branding and cost-in-use benefits of premium disposable tableware products. Hoffmaster Group was founded in 1947 and is based in Oshkosh, Wisconsin.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-06 Schafer

Arlington, Virginia, United States

Schafer Corp. is a provider of scientific, advanced engineering, and technical services and products applied to defeating critical national security threats. Schafer design, integrate, maintain, and upgraded state-of-the-art systems and programs for the military, intelligence community, Department of Homeland Security, and others. Schafer was established in 1972 and is based in Arlington, Virginia.

Sell -
Mergr

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