M&A Deal Summary

Crestwood Acquires Crestwood Midstream Partners

On September 30, 2015, Crestwood acquired energy services and equipment company Crestwood Midstream Partners from The Blackstone Group and Kayne Anderson Capital Advisors

Acquisition Highlights
  • This is Crestwood’s 1st transaction in the Energy Services and Equipment sector.
  • This is Crestwood’s 3rd transaction in the United States.
  • This is Crestwood’s 2nd transaction in Texas.

M&A Deal Summary
Date 2015-09-30
Target Crestwood Midstream Partners
Sector Energy Services and Equipment
Buyer(s) Crestwood
Sellers(s) The Blackstone Group
Kayne Anderson Capital Advisors
Deal Type Merger

Target

Crestwood Midstream Partners

Houston, Texas, United States
Crestwood Midstream Partners LP is a provider of pipeline, gathering and processing, storage and other assets in the midstream energy sector to build a North American midstream business.

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Buyer(S) 1

Buyer

Crestwood

Houston, Texas, United States
Category Company
Founded 2001
Sector Energy Services and Equipment
Revenue 6.0B USD (2022)
DESCRIPTION

Crestwood is a master limited partnership that owns and operates midstream businesses in multiple shale resource plays across the United States. The company is engaged in the gathering, processing, treating, compression, and transportation of natural gas; storage, transportation, terminalling, and marketing of NGLs; gathering, storage, terminalling, and marketing of crude oil; and gathering and disposal of produced water. Crestwood was founded in 2001 and is based in Houston, Texas.

DEAL STATS #
Overall 3 of 4
Sector (Energy Services and Equipment) 1 of 1
Type (Merger) 1 of 1
State (Texas) 2 of 3
Country (United States) 3 of 4
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-07 Inergy Crude Logistics

Sugar Land, Texas, United States

Inergy Crude Logistics LLC is a developing, constructing, acquiring, operating, optimizing and expanding both greenfield and existing crude oil, refined products and associated natural gas midstream assets.

Buy $425M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-31 US Salt

Kansas City, Montana, United States

US Salt LLC utilizes solution mining to create salt brine from underground deposits lying 2,000 to 2,800 feet beneath the surface. The brine is mechanically evaporated to create evaporated salt, which is nearly 100 percent pure sodium chloride. US Salt’s customers include retailers, distributors and end-users in the consumer food, food processing, water conditioning, pharmaceutical, industrial and agricultural industries.

Sell $225M

Seller(S) 2

SELLER

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 131.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York, New York.

DEAL STATS #
Overall 99 of 173
Sector (Energy Services and Equipment) 4 of 5
Type (Merger) 3 of 9
State (Texas) 11 of 19
Country (United States) 64 of 105
Year (2015) 9 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-21 Ideal Shopping Direct

Peterborough, United Kingdom

Ideal Shopping Direct is a multi-channel retailer that engages in selling products to consumers through digital television home shopping channels and the Internet in the United Kingdom and internationally. Ideal Shopping Direct was founded in 1980 and is based in Peterborough, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-01 PFG

Richmond, Virginia, United States

PFG is a distributor of food products and snacks. PFG delivers food and food-related products to more than 130,000 independent and national chain restaurants, quick-service eateries, pizzerias, theaters, schools, hotels, healthcare facilities and other institutions across the United States. PFG was founded in 1885 and is based in Richmond, Virginia.

Sell -
SELLER

Kayne Anderson Capital Advisors

Los Angeles, California, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1984
PE ASSETS 36.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kayne Anderson Capital Advisors is an alternative investment management firm focused on hedge funds, public funds, energy private equity, growth private equity, real estate private equity, and mezzanine finance opportunities. Kayne's energy private equity group focuses on $20 to $100 million investments in high-growth exploration and production, midstream and oilfield service companies. The energy group considers both majority or minority stakes in public and private businesses. Kayne's growth private equity practice involves structured investments in public and private companies looking for capital to finance expansion. This group will also consider middle-market leveraged transactions and management buyouts. Kayne's real estate private equity group invests in established, cash-flow generating projects. Areas of interest include student housing and campus-oriented retail properties, amongst other opportunistic investments. The Group looks for acquisitions of $25 to $100 million. Kayne's mezzanine team looks to provide $20 to $35 million of capital for mid-market businesses with $100 to $500 million of sales and $10 to $50 million of EBITDA. Kayne Capital Advisors was formed in 1984 and is based in Los Angeles with additional offices in Armonk, New York; New York City, and Houston.

DEAL STATS #
Overall 28 of 85
Sector (Energy Services and Equipment) 2 of 5
Type (Merger) 1 of 4
State (Texas) 11 of 32
Country (United States) 21 of 73
Year (2015) 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-21 Kinetiq

Doylestown, Pennsylvania, United States

Kinetiq is a unified TV intelligence network, offering paid and earned media measurement, monitoring and signaling across local, national and global markets. Kinetiq is based in Doylestown, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-05 TicketManager

Calabasas, California, United States

TicketManager is a SaaS provider of customer entertainment and sports ticket management. TicketManager provides an end-to-end solution for enterprise brands and their partners. TicketManager was founded in 2007 and is based in Calabasas, California.

Buy -
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