M&A Deal Summary

Converge Midstream Acquires Fairway Energy Partners

On June 19, 2019, Converge Midstream acquired energy services and equipment company Fairway Energy Partners

Acquisition Highlights
  • This is Converge Midstream’s 1st transaction in the Energy Services and Equipment sector.
  • This is Converge Midstream’s 1st transaction in the United States.
  • This is Converge Midstream’s 1st transaction in Texas.

M&A Deal Summary

Date 2019-06-19
Target Fairway Energy Partners
Sector Energy Services and Equipment
Buyer(s) Converge Midstream
Deal Type Special Situations/Distressed

Target

Fairway Energy Partners

Houston, Texas, United States
Fairway Energy Partners LLC is a crude oil storage company, focuses on constructing and placing into service the Pierce Junction crude oil storage facility.

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Buyer(S) 1

Buyer

Converge Midstream

Houston, Texas, United States

Category Company
Sector Energy Services and Equipment
DESCRIPTION

Converge Midstream LLC is an independent crude oil storage and transportation company operates salt dome storage caverns, as well as two common carrier pipelines to receive shippers' crude oil into its facilities and redeliver that crude oil to refiners, exporters, traders and other parties throughout the Houston market.


DEAL STATS #
Overall 1 of 1
Sector: Energy Services and Equipment M&A 1 of 1
Type: Special Situations/Distressed M&A Deals 1 of 1
State: Texas M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2019 M&A 1 of 1