M&A Deal Summary

Stonepeak Infrastructure Partners and Qatar Investment Authority Acquires Oryx Midstream Services

On April 2, 2019, infrastructure investor Stonepeak Infrastructure Partners and sovereign wealth fund Qatar Investment Authority acquired oil/gas exploration company Oryx Midstream Services LLC from Post Oak Energy Capital and Quantum Energy Partners for 3.6B USD

Acquisition Highlights
  • This is Stonepeak Infrastructure Partners’ 2nd and Qatar Investment Authority’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Stonepeak Infrastructure Partners’ 2nd and Qatar Investment Authority’s 1st largest (disclosed) transaction.
  • This is Stonepeak Infrastructure Partners’ 12th and Qatar Investment Authority’s 1st transaction in the United States.
  • This is Stonepeak Infrastructure Partners’ 2nd and Qatar Investment Authority’s 1st transaction in Texas.

M&A Deal Summary

Date 2019-04-02
Target Oryx Midstream Services LLC
Sector Oil/Gas Exploration
Buyer(s) Stonepeak Infrastructure Partners
Qatar Investment Authority
Sellers(s) Post Oak Energy Capital
Quantum Energy Partners
Deal Type Secondary Buyout
Deal Value 3.6B USD

Target

Oryx Midstream Services LLC

Midland, Texas, United States
website
Oryx Midstream Services is a midstream crude operator in the Permian Basin. Oryx Midstream Services LLC owns and operates a crude oil gathering and transportation system underpinned by nearly one million acres under long-term dedications from more than 20 customers. The system's 2.1 million barrels of storage and approximately 1,200 miles of in-service and under-construction pipeline span eight counties in Texas and two in New Mexico.

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Buyer(S) 2

Buyer

Stonepeak Infrastructure Partners

website


Category Infrastructure
Founded 2011
PE ASSETS 37.0B USD
SizeMega
Type Sector Focused
DESCRIPTION

Stonepeak Infrastructure Partners is a private equity firm focused on North American infrastructure investing. Specific areas of interest include energy assets, power/renewables, transportation, utilities, water, and communications. Stone peak Infrastructure Partners was formed in 2011 and has offices in New York City and Houston.


DEAL STATS #
Overall 15 of 22
Sector (Oil/Gas Exploration) 2 of 2
Type (Secondary Buyout) 2 of 5
State (Texas) 2 of 2
Country (United States) 12 of 15
Year (2019) 2 of 2
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-19 Madison Energy Investments LLC

New York, New York, United States

Madison Energy Investments is a platform that develops, owns and operates distributed generation projects within the commercial and industrial (C&I) and small utility-scale sectors. The founding partners bring a variety of expertise in business development, finance, construction, and operations. The team’s combined industry experience of over 30 years has produced best practices in project development, construction, financing and a comfort level with a variety of technologies, engineering solutions, financing structures, state markets and incentives, utility programs, tariff structures, and asset management. Most importantly, the experience has allowed the team to develop first class relationships with experienced, local partners in dozens of markets throughout the United States.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-18 TRAC Intermodal LLC

Princeton, New Jersey, United States

TRAC Intermodal is a provider of short-term rentals through an extensive chassis pool network, long-term chassis leasing, and pool & fleet management through the utilization of its proprietary PoolStat® information management system. TRAC Intermodal was founded in 1968 and is based in Princeton, New Jersey.

Buy -
Buyer

Qatar Investment Authority

Investor

website


Category Sovereign Wealth Fund
Founded 2005
SizeMega
Type Sector Agnostic
DESCRIPTION

Qatar Investment Authority (QIA) is the sovereign wealth fund of Qatar. QIA pursues a variety of investment strategies including real estate, equities, infrastructure, and direct investments. Qatar Investment Authority was established in 2005 and is headquartered in Doha.


DEAL STATS #
Overall 3 of 3
Sector (Oil/Gas Exploration) 1 of 1
Type (Secondary Buyout) 2 of 2
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2019) 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-26 Groupe Moving

Paris, France

Groupe Moving is one of the main fitness operators in France currently encompasses over 180 fitness clubs and more than 400,000 members, who attend 21 directly-operated clubs (located in major cities) and 162 clubs operated under franchise (mainly in provincial areas).

Buy -

Seller(S) 2

SELLER

Post Oak Energy Capital

Houston, Texas, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2006
SizeSmall
Type Sector Focused
DESCRIPTION

Post Oak Energy Capital is a private investment firm focused on growth capital investments US energy companies. Specific areas of interest include exploration and production, oilfield services (manufacturing/distribution), and midstream/related infrastructure assets. Post Oak Energy Capital is based in Houston, Texas.


DEAL STATS #
Overall 7 of 8
Sector (Oil/Gas Exploration) 4 of 4
Type (Secondary Buyout) 1 of 1
State (Texas) 5 of 6
Country (United States) 7 of 8
Year (2019) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-08 Prime Downhole Manufacturing LLC

Houston, Texas, United States

Prime Downhole Manufacturing LLC is a global provider of engineered services and manufactured products to the oil and gas industry, with a focus on downhole tools. With its existing assets and product lines currently in place, Prime provides a platform on which to build a diversified oilfield equipment manufacturing company both organically and through acquisition with a focus on manufacturing tools that are consumed primarily in the development and production of unconventional basins both domestically and internationally

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-11 Precision Compression LLC

Weatherford, Texas, United States

Precision Compression LLC is engaged in the manufacturing, leasing, and servicing of wellhead reciprocating gas compressors. Precision Compression LLC is based in Weatherford, Texas.

Sell -
SELLER

Quantum Energy Partners

Houston, Texas, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1998
PE ASSETS 17.0B USD
SizeMega
Type Sector Focused
DESCRIPTION

Quantum Energy Partners is a specialist private equity firm focused on investments within the energy sector. Quantum's primary focus is on opportunities within the oil and gas upstream and midstream sectors, however, the Firm will also consider investments in oil field services and equipment, coal, power generation and transmission, and renewable/alternative energy. Quantum's target investment size is $100 to $400 million. Quantum invests in start-ups as well as established companies needing expansion capital. Quantum Energy Partners was formed in 1998 and is headquartered in Houston, Texas.


DEAL STATS #
Overall 16 of 18
Sector (Oil/Gas Exploration) 11 of 12
Type (Secondary Buyout) 3 of 3
State (Texas) 7 of 8
Country (United States) 13 of 15
Year (2019) 1 of 1
Size (of disclosed) 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-28 ChargePoint Holdings, Inc.

Campbell, California, United States

ChargePoint is an electric vehicle (EV) charging network, with charging solutions in every category EV drivers charge, at home, work, around town and on the road. ChargePoint was founded in 2007 and is based in Campbell, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-01 547 Energy LLC

Houston, Texas, United States

547 Energy invests in and partners with innovative companies and development platforms around the globe that focus on cleantech, renewable power, energy efficiency, grid resilience or the digitalization of the energy sector.

Buy -