Add-on Acquisition • Energy Services and Equipment

Basalt Infrastructure Partners Exits Black Bear Transmission

On August 19, 2025, Enstor invested in energy services and equipment company Black Bear Transmission from Basalt Infrastructure Partners

Investment Context
  • This is Enstor’s 2nd transaction in the Energy Services and Equipment sector.
  • This is Enstor’s 3rd transaction in the United States.
  • This is Enstor’s 1st transaction in Texas.

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Investment Summary

Date August 19, 2025
Target Black Bear Transmission
Sector Energy Services and Equipment
Investor(s) Enstor
Sellers(s) Basalt Infrastructure Partners
Deal Type Add-on Acquisition

Target Company

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. Black Bear Transmission is based in Houston, Texas.
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Investor Overview 1

Investor

Enstor

Katy, Texas, United States

Category Company
Sector Infrastructure
DESCRIPTION

The ENSTOR Caledonia storage facility is a high-deliverability, multi-cycle gas storage facility in Lowndes County, Mississippi.


Deal Context for Investor #
Overall 3 of 3
Sector: Energy Services and Equipment 2 of 2
Type: Add-on Acquisition 2 of 2
State: Texas 1 of 1
Country: United States 3 of 3
Year: 2025 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-02 Sempra Energy - U.S. Natural Gas Storage Facilities

San Diego, California, United States

Sempra Energy - U.S. Natural Gas Storage Facilities is a provider of natural gas storage facilities.

Buy $332M

Seller Profile 1

SELLER

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 Context for Seller #
Overall 1 of 1
Sector: Energy Services and Equipment 1 of 1
Type: Add-on Acquisition 1 of 1
State: Texas 1 of 1
Country: United States 1 of 1
Year: 2025 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-13 AEP OnSite Partners

Columbus, Ohio, United States

AEP OnSite Partners is a provider of behind-the-meter solutions that assist customers in reducing their energy spend and achieving any other goals specifically tied to their energy consumption. The Company provides technical expertise, market knowledge, and investment capital for a geographically diverse array of energy projects, including solar, combined heat and power, energy storage, electrical substations, fuel cells, waste heat recovery, and peaking generation resources throughout the U.S.

Buy $315M