Tailwater Capital Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Tailwater Capital has acquired 8 companies.

Tailwater Capital’s most common sectors for investment areenergy services and equipment (43%) and oil/gas exploration (33%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (50%) and growth capital (25%). In total, Tailwater Capital has invested in 4 US states.

In the last 3 years, Tailwater Capital has exited 4 companies. The Firm’s most common exit type is trade sale (63%). Tailwater Capital’s largest (disclosed) exit occurred in 2022 when it sold NorTex Midstream Partners for $423M.

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M&A Summary

  • M&A Total Activity36
    • M&A Buy Activity28
    • M&A Sell Activity8
  • Total Sectors Invested 6
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 11
  • M&A Advisors 4

Tailwater Capital

Tailwater Capital LLC

2021 McKinney Ave. Suite 1250,
Dallas, Texas 75201
United States
(214) 269 -1183
www.tailwatercapital.com
info@tailwatercapital.com

Tailwater Capital LLC is a specialist private equity firm focused on middle-market opportunities in the midstream and upstream sectors of the energy industry. Tailwater will consider acquisitions of non-core assets, roll-up situations, anchored greenfields, and joint ventures. Tailwater Capital was formed in 2013 and is based in Dallas, Texas.


Investment Criteria

Sectors of Interest: Energy Services and Equipment, Environmental, Oil/Gas Exploration, Renewable Energy

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Growth Capital, Secondary Buyout, Joint Venture

Geographic Preferences: East US, Midwest US, South US, West US

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - -
Enterprise Value - -

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (1.6/yr) # 20 - 5 2 1 - 28
Sell (0.8/yr) # 4 - - 2 1 1 8
vol $318M $423M $155M $896M
  36

Most Recent M&A

Company Date Value Type
Tall Oak Midstream III LLC 2024-10-01 155M USD Trade Sale
Edmond, Oklahoma
Cureton Midstream LLC 2023-11-02 - Trade Sale
Denver, California · www.curetonmidstream.com
Ash Creek Renewables 2023-07-25 - Buyout (LBO, MBO, MBI)
Southport, Connecticut · www.ashcreekrenewables.com
Align Midstream Partners II 2022-09-22 - Trade Sale
Dallas, Texas · www.alignmidstream.com
NorTex Midstream Partners LLC 2022-09-08 423M USD Divestiture
Houston, Texas · www.nortexmidstream.com
Renovo Resources LLC 2022-04-04 - Buyout (LBO, MBO, MBI)
Irvine, California · www.renovoresources.com
Continuus Materials LLC 2022-01-13 - Joint Venture
The Woodlands, Texas · www.continuusmaterials.com
Frontier Carbon Solutions LLC 2021-10-01 - Buyout (LBO, MBO, MBI)
Dallas, Texas · www.frontierccus.com
Freestone Sponsor LLC 2021-03-01 - Buyout (LBO, MBO, MBI)
Dallas, Texas · www.freestoneac.com
NorTex Midstream Partners LLC 2021-02-17 - Divestiture
Houston, Texas · www.nortexmidstream.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Tall Oak Midstream II LLC 2021-01-27 Canyon Midstream Partners LLC - Redcliff Midstream 2021-03-24 1
Edmond, Oklahoma Houston, Texas
Pivotal Petroleum Partners LP 2013-11-01 Pivotal Petroleum Partners LP - North Dakota Business 2018-07-18 1
Dallas, Texas · www.pivotalpetro.com , North Dakota

M&A by Sector

Sector Current # Value All-time # Value
Energy Services and Equipment 6 (38%) - 12 (43%) -
Oil/Gas Exploration 4 (25%) - 9 (32%) -
Environmental 3 (19%) - 4 (14%) -
Business Services 1 (6%) - 1 (4%) -
Renewable Energy 1 (6%) - 1 (4%) -
Utilities 1 (6%) - 1 (4%) -
Total 16 - 28 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 16 (100%) - 28 (100%) -
  Texas 13 (81%) - 21 (75%) -
  Oklahoma 1 (6%) - 4 (14%) -
  California 1 (6%) - 2 (7%) -
  Connecticut 1 (6%) - 1 (4%) -
Total 16 - 28 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 9 (56%) - 14 (50%) -
Growth Capital 4 (25%) - 7 (25%) -
Secondary Buyout 1 (6%) - 2 (7%) -
Stake Purchase - - 2 (7%) -
Divestiture - - 1 (4%) -
Joint Venture 1 (6%) - 1 (4%) -
Recapitalization 1 (6%) - 1 (4%) -
Total 16 - 28 -

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 3 (38%) 455M (51%)
Trade Sale 2 (25%) -
Divestiture 1 (13%) 423M (47%)
Merger 1 (13%) 18M (2%)
Secondary Sale 1 (13%) -
Total 8 $896M

Top M&A Advisors

Financial Deals
Tudor, Pickering, Holt & Co., LLC
2
Legal Deals
Thompson & Knight LLP
6
Kirkland & Ellis
3
Locke Lord
1

Deal Values

sell # Total
$100M to $1B 3 $878M
< $100M 1 $18M
TOTAL $896M
Largest NorTex Midstream Partners LLC
$423M (2022-09-08)

M&A Connections

Deals
Acquired from
Investor(s)
7%
2 (7%)
Strategic(s)
4%
1 (4%)
Exited to
Investor(s)
13%
1 (13%)
Strategic(s)
88%
7 (88%)

FAQ

When was Tailwater Capital founded?

Tailwater Capital was founded in 2013.

What type of investor is Tailwater Capital?

Tailwater Capital is a private equity firm.

Where is Tailwater Capital headquartered?

Tailwater Capital is headquartered in Dallas, Texas.

How much capital does Tailwater Capital have under management?

Tailwater Capital has 4.4B USD under management.

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