Investment Summary

Exits Buckeye Partners

On August 4, 2006, invested in energy services and equipment company Buckeye Partners from Riverstone Holdings and The Carlyle Group

Investment Highlights
  • This is transaction in the Energy Services and Equipment sector.
  • This is transaction in the United States.
  • This is transaction in Texas.
Investment Fate
  • Buckeye Partners was sold to a consortium of financial buyers in 2007.
  • Buckeye Partners was sold to a financial buyer in 2019 for 10.3B USD.

Investment Summary

Date 2006-08-04
Target Buckeye Partners
Sector Energy Services and Equipment
Sellers(s) Riverstone Holdings
The Carlyle Group
Deal Type IPO

Target

Buckeye Partners

Houston, Texas, United States
website
Entrance to Buckeye Partners' corporate headquarters in Houston, Texas.
Entrance to Buckeye Partners' corporate headquarters in Houston, Texas.
Buckeye Partners L.P. owns and operates a diversified network of integrated assets providing midstream logistic solutions, primarily consisting of the transportation, storage and marketing of liquid petroleum products. Buckeye Partners is one of the largest independent liquid petroleum products pipeline operators in the United States in terms of volumes delivered, with approximately 6,000 miles of pipeline. Buckeye also uses its expertise to operate and/or maintain third party pipelines and perform certain engineering and construction services for our customers. Buckeye Partners was originally established in 1886 and is based in Houston, Texas.

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Seller(S) 2

SELLER

Riverstone Holdings

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2000
PE ASSETS 40.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Riverstone Holdings is a large specialist private equity firm focused on opportunities in the energy and power industry. Specific areas of interest include oil & gas exploration, midstream transportation/logistics, electric generation, energy & power service, power infrastructure, and energy & power technology. Riverstone was formed in 2000 and is based in New York City.


DEAL STATS #
Overall 4 of 56
Sector (Energy Services and Equipment) 2 of 18
Type (IPO) 2 of 14
State (Texas) 2 of 26
Country (United States) 4 of 42
Year (2006) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-08-01 Legend Natural Gas III

Katy, Texas, United States

Legend Natural Gas III is a North American natural gas focused acquisition, development and exploitation company comprised of all the key managers from 'Legend I' and 'Legend II' and deploying the same strategy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-01 Honghua Group

Chengdu, China

Honghua Group is the largest land rig manufacturers in the world, specializing in the research, design and production of onshore rigs ranging from 2,000 m – 7,000 m of drilling depth. In addition to manufacturing drilling rigs and rig parts / components (e.g., mud pumps, masts, substructures, drawworks, drive systems and solids control systems), the Company offers drilling-related training and after-sales support services to its customers. Honghua Group was founded in 1997 and is based in Chengdu, China.

Buy -
SELLER

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1987
PE ASSETS 376.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 79 of 443
Sector (Energy Services and Equipment) 2 of 14
Type (IPO) 12 of 66
State (Texas) 7 of 35
Country (United States) 54 of 250
Year (2006) 12 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-08-02 Stellex Aerostructures

Lebanon, New Jersey, United States

Stellex Aerostructures, Inc. is a provider of highly engineered titanium and aluminum aerostructure components and subsystems for the commercial aerospace, military/defense, general aviation, and space industries.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-08-06 GE AVIO S.r.l.

Rivalta, TO, Italy

Avio is a designers and manufacturers of components and systems for commercial, military and space launch engines. Its activities include jet derivative engines and automation systems for naval and industrial applications, power generation and a highly successful maintenance, repair and overhaul operation for civil and military clients.

Sell €2.6B