M&A Deal Summary

Basalt Infrastructure Partners Acquires Black Bear Transmission

On October 17, 2019, infrastructure investor Basalt Infrastructure Partners acquired energy services and equipment company Black Bear Transmission from Third Coast Midstream

Acquisition Highlights
  • This is Basalt Infrastructure Partners’ 1st transaction in the Energy Services and Equipment sector.
  • This is Basalt Infrastructure Partners’ 1st transaction in the United States.
  • This is Basalt Infrastructure Partners’ 1st transaction in Texas.

M&A Deal Summary
Date 2019-10-17
Target Black Bear Transmission
Sector Energy Services and Equipment
Buyer(s) Basalt Infrastructure Partners
Sellers(s) Third Coast Midstream
Deal Type Divestiture

Target

Black Bear Transmission

Houston, Texas, United States
Black Bear Transmission transports and delivers natural gas from various pipeline receipt points to power generation, industrial and utility customers in the Southeast United States. The Company includes 7 regulated natural gas pipelines with total capacity of over 1,600 MDth per day, stretching approximately 550 miles. The pipelines are connected to 8 major long-haul pipelines, ensuring reliable gas supply to customers across Louisiana, Alabama, Mississippi, Tennessee and Arkansas. Black Bear Transmission is based in Houston, Texas. ​

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Buyer(S) 1

Buyer

Basalt Infrastructure Partners

Investor Investor Investor Investor Investor

Category Infrastructure
Founded 2011
PE ASSETS 2.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Basalt Infrastructure Partners is an infrastucture investor focused on opportunities across North America and Europe. The Firm's principal areas of interest include utilities, energy, and transportation. Basalt prefers assets with significant barriers to entry, sustainable long-term cash-flows, and high operating margins. In addition to acquiring operational assets, the Basalt will also consider late stage construction projects. Basalt Infrastructure Partners was founded in 2011 and is headquartered in London.

DEAL STATS #
Overall 5 of 17
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 1 of 2
State (Texas) 1 of 1
Country (United States) 1 of 7
Year (2019) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-14 Manx Telecom

Braddan, United Kingdom

Manx Telecom is a telecommunications and internet provider offering a full range of fixed-line, mobile and data services to consumers and businesses. Manx Telecom was founde in 1987 and is based in Braddan, United Kingdom.

Buy £226M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-01 Habitat Solar

United States

Habitat Solar is a residential solar portfolio and significant source of renewable generation that provide meaningful cost savings and certainty of electricity to its residential customers. Habitat Solar is based in United States.

Buy -

Seller(S) 1

SELLER

Third Coast Midstream

Houston, Texas, United States
Category Company
Founded 2019
Sector Energy Services and Equipment
DESCRIPTION

Third Coast Midstream LLC is a full-service midstream company operations are focused on delivering efficient, safe, and dependable service to customers. Third Coast Midstream LLC assets include natural gas transmission and gathering pipelines, crude oil pipelines, natural gas processing plants, NGL fractionation facilities, NGL pipelines, and terminals. Third Coast Midstream LLC is focused on the Gulf Coast area and unlocking the strategic value that the region brings the industry.

DEAL STATS #
Overall 1 of 3
Sector (Energy Services and Equipment) 1 of 3
Type (Divestiture) 1 of 3
State (Texas) 1 of 3
Country (United States) 1 of 3
Year (2019) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-08 Lavaca Midstream

Lavaca County, Texas, United States

Lavaca Midstream provides 260 miles of natural gas gathering pipes and associated infrastructure and provides gathering and artificial gas lift services to local upstream clients focused on oil and gas production in the Eagle Ford.

Sell -
Mergr

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