M&A Deal Summary

Regency Energy Partners Acquires Nexus Gas Partners

On March 25, 2008, Regency Energy Partners acquired oil/gas exploration company Nexus Gas Partners from Turnbridge Capital and Centre Partners Management for 85M USD

Acquisition Highlights
  • This is Regency Energy Partners’ 1st transaction in the Oil/Gas Exploration sector.
  • This is Regency Energy Partners’ 4th largest (disclosed) transaction.
  • This is Regency Energy Partners’ 2nd transaction in the United States.
  • This is Regency Energy Partners’ 2nd transaction in Texas.

M&A Deal Summary

Date 2008-03-25
Target Nexus Gas Partners
Sector Oil/Gas Exploration
Buyer(s) Regency Energy Partners
Sellers(s) Turnbridge Capital
Centre Partners Management
Deal Type Add-on Acquisition
Deal Value 85M USD

Target

Nexus Gas Partners

Dallas, Texas, United States
Nexus Gas Partners LLC is a midstream provider of natural gas gathering, dehydration and compression services for producers in the active exploration and development regions of East Texas and Northern Louisiana.

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Buyer(S) 1

Buyer

Regency Energy Partners

Dallas, Texas, United States

website


Category Company
Founded 2003
Sector Energy Services and Equipment
Revenue 1.5B USD (2014)
DESCRIPTION

Regency Energy Partners LP is a growth-oriented, master limited partnership engaged in the gathering and processing, compression, treating and transportation of natural gas; the transportation, fractionation and storage of natural gas liquids; the gathering, transportation and terminaling of oil (crude and/or condensate) received from producers; and the management of coal and natural resource properties in the United States.


DEAL STATS #
Overall 2 of 5
Sector (Oil/Gas Exploration) 1 of 2
Type (Add-on Acquisition) 2 of 5
State (Texas) 2 of 4
Country (United States) 2 of 5
Year (2008) 1 of 1
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-12-12 CDM Resource Management

Hoston, Texas, United States

CDM Resource Management, Ltd. is a natural gas contract compression services company that operates high horsepower units primarily in gas producing regions of south Texas and Louisiana.

Buy $655M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-01 Zephyr Gas Services

Houston, Texas, United States

Zephyr Gas Services provides equipment rental, sales and service of modular skid-mounted treating and processing equipment to the natural gas industry. The Company designs and rents under long-term contracts its Modular Quik-Connect MQC Amine Plant, Modular Glycol Dehydration Units, ZCool-Max Natural Gas Coolers, ZJT NGL Extraction Plants and other miscellaneous equipment including portable NGL storage tanks. Zephyr Gas Services was founded in 2006 and is based in Houston, Texas.

Buy $185M

Seller(S) 2

SELLER

Turnbridge Capital

Dallas, Texas, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2008
Size Middle-Market
Type Sector Focused
DESCRIPTION

Turnbridge Capital is a private equity firm focused on investing in middle-market energy services and equipment providers supporting upstream, midstream, and downstream energy companies. Turnbridge will consider companies throughout North America and looks to commit $20 to $100 million in companies generating $25 to $250 million in revenue. Turnbridge prefers control investments, but will consider select minority situations. Turnbridge Capital was formed in 2008 and is headquartered in Houston, Texas.


DEAL STATS #
Overall 1 of 8
Sector (Oil/Gas Exploration) 1 of 1
Type (Add-on Acquisition) 1 of 3
State (Texas) 1 of 8
Country (United States) 1 of 8
Year (2008) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-16 Nexus Gas Partners

Dallas, Texas, United States

Nexus Gas Partners LLC is a midstream provider of natural gas gathering, dehydration and compression services for producers in the active exploration and development regions of East Texas and Northern Louisiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-10-01 ROC Service Company

Bridgeport, Texas, United States

ROC Service Company LLC is a provider of mission critical wellsite and facilities services to exploration and production and midstream companies operating across the United States.

Buy -
SELLER

Centre Partners Management

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1986
PE ASSETS 2.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Centre Partners is a private equity firm focused on investments in North American middle-market companies 'with strong growth prospects, predictable cash flows, and defensible competitive positions'. Prospective transactions include investments in privately owned companies, growth capital financings, management buyouts/buy-ins, divestitures, and take privates. The Firm's typical investment size is $10 to $50 million. Areas of interest include consumer products and services, cable/media, business services, energy, financial services, healthcare, industrial, and retail. Centre Partners was formed in 1986 and has offices in New York, New York and Los Angeles, California.


DEAL STATS #
Overall 11 of 31
Sector (Oil/Gas Exploration) 1 of 1
Type (Add-on Acquisition) 3 of 11
State (Texas) 1 of 3
Country (United States) 10 of 30
Year (2008) 1 of 2
Size (of disclosed) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-12-18 Centre Environmental Partners

New York, New York, United States

Centre Environmental Partners is a Management Investment Partnership pursuing acquisitions of independent, regional providers of waste management services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-06-09 U.S. Retirement & Benefits Partners

Iselin, New Jersey, United States

U.S. Retirement & Benefits Partners is an independent K-12 public school and governmental employee benefits and retirement planning services firm. The company serves educational, governmental, corporate, union, and non-profit employers with the care and attention that their employees deserve, helping them make retirement planning decisions that align with their goals and objectives and benefit choices suited for their personal needs by providing customers with resources and tools. U.S. Retirement & Benefits Partners was founded in 2008 and is based in Iselin, New Jersey.

Buy -