M&A Deal Summary

EnCap Flatrock Midstream and Highstar Capital Acquire Caiman Energy II

On July 10, 2012, venture capital firm EnCap Flatrock Midstream and private equity firm Highstar Capital acquired oil/gas exploration company Caiman Energy II for 800M USD

Acquisition Highlights
  • This is EnCap Flatrock Midstream’s 8th and Highstar Capital’s 3rd transaction in the Oil/Gas Exploration sector.
  • This is EnCap Flatrock Midstream’s and Highstar Capital’s 2nd largest (disclosed) transaction.
  • This is EnCap Flatrock Midstream’s 8th and Highstar Capital’s 18th transaction in the United States.
  • This is EnCap Flatrock Midstream’s 6th and Highstar Capital’s 5th transaction in Texas.

M&A Deal Summary

Date 2012-07-10
Target Caiman Energy II
Sector Oil/Gas Exploration
Buyer(s) EnCap Flatrock Midstream
Highstar Capital
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 800M USD

Target

Caiman Energy II

Dallas, Texas, United States
website
Caiman Energy II is working in the Utica shale play to provide the infrastructure necessary to move natural gas products from the wellhead to market.

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Buyer(S) 2

Buyer

EnCap Flatrock Midstream

San Antonio, Texas, United States

Investor Investor Investor Investor Investor

website


Category Venture Capital Firm
Founded 2008
PE ASSETS 9.0B USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

EnCap Flatrock Midstream is a private investment firm focused on venture related opportunities in the midstream energy sector. EnCap Flatrock seeks majority positions in natural gas gathering, treating, processing and storage; crude oil gathering and transportation; and natural gas liquids fractionation, storage and transportation. EnCap Flatrock Midstream is affiliated with investment firm EnCap Investments, a large diversified energy investment firm. EnCap Flatrock is based in San Antonio, Texas.


DEAL STATS #
Overall 8 of 29
Sector (Oil/Gas Exploration) 8 of 19
Type (Buyout (LBO, MBO, MBI)) 6 of 13
State (Texas) 6 of 23
Country (United States) 8 of 29
Year (2012) 1 of 2
Size (of disclosed) 1 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-27 Caiman Energy

Dallas, Texas, United States

Caiman Energy is an independent midstream energy company that provides the infrastructure and services necessary to move natural gas products from the wellhead to market.

Sell $2.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-07 EagleClaw Midstream

Midland, Texas, United States

EagleClaw Midstream is a midstream company focused on developing infrastructure opportunities in the Permian Basin. EagleClaw provides natural gas producers with a wide array of midstream services including gathering, compression, treating, processing and transportation.

Buy $100M
Buyer

Highstar Capital

New York, New York, United States

website


Category Private Equity Firm
Founded 2000
PE ASSETS 7.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Highstar Capital is a private equity fund focused on investments in infrastructure related companies and assets. Highstar specifically targets businesses that deal in energy, transportation, waste management and water. The Firm will consider opportunities throughout North America and Europe. Highstar Capital was formerly known as AIG Highstar Capital. The Firm was formed in 2000 and is based in New York City.


DEAL STATS #
Overall 19 of 22
Sector (Oil/Gas Exploration) 3 of 3
Type (Buyout (LBO, MBO, MBI)) 15 of 18
State (Texas) 5 of 6
Country (United States) 18 of 20
Year (2012) 1 of 3
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-27 Caiman Energy

Dallas, Texas, United States

Caiman Energy is an independent midstream energy company that provides the infrastructure and services necessary to move natural gas products from the wellhead to market.

Sell $2.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-01 GWF Energy

Walnut Creek, California, United States

GWF Energy LLC ("GWF") is 100% owned by Highstar Capital and its affiliated limited partners and co-investors. GWF is comprised of three modern, efficient, fully-contracted natural gas-fired power plants located in California, including Tracy, a 334 megawatt combined-cycle facility, and Hanford and Henrietta, two simple-cycle peaking facilities each with 98 megawatts

Buy -