M&A Deal Summary

DCP Midstream Acquires Aspen Pipeline II

On January 1, 2012, DCP Midstream acquired energy services and equipment company Aspen Pipeline II from Energy Spectrum Capital

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

M&A Deal Summary

Date 2012-01-01
Target Aspen Pipeline II
Sector Energy Services and Equipment
Buyer(s) DCP Midstream
Sellers(s) Energy Spectrum Capital
Deal Type Add-on Acquisition

Target

Aspen Pipeline II

Houston, Texas, United States
Aspen Pipeline II LP is an Odessa fuels project, a natural gas pipeline in West Texas constructed to gather and deliver high nitrogen content natural gas to customers capable of directly burning the natural gas without nitrogen removal. Aspen Pipeline II was founded in 2008 and is based in Houston, Texas.

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Buyer(S) 1

Buyer

DCP Midstream

Denver, Colorado, United States

Category Company
Sector Oil/Gas Exploration
DESCRIPTION

DCP Midstream is a provider of natural gas gatherers and processors, and natural gas liquids (NGLs) producer. DCP Midstream operates in 16 states across the five largest natural gas producing regions in the United States. DCP Midstream is based in Denver, Colorado.


DEAL STATS #
Overall 2 of 2
Sector: Energy Services and Equipment M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 2
State: Texas M&A 2 of 2
Country: United States M&A 2 of 2
Year: 2012 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-29 Momentum Energy Group

Houston, Texas, United States

Developer and operator of midstream natural gas gathering systems in the Barnett Shale in Texas and in western Colorado. Capital Investors provided equity in a growth financing to fund pipeline and processing systems.

Buy $635M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-01 DCP Midstream - Midland Basin Gathering and Processing Assets

Texas, United States

DCP Midstream - Midland Basin Gathering and Processing Assets include approximately 1,000 miles of low and high pressure natural gas gathering pipelines and a cryogenic processing plant, which has capacity in excess of 60 million cubic feet per day.

Sell -

Seller(S) 1

SELLER

Energy Spectrum Capital

Dallas, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 4.5B USD
Size Large
Type Sector Focused
DESCRIPTION

Energy Spectrum Capital is a midstream private equity firm specializing in investment in buyouts and buys and build in middle-market companies. The Firm focused exclusively on the energy industry. ESC looks to make a direct investment in established companies includes oil & gas gathering and transportation systems, processing and treating facilities, storage facilities and other infrastructure facilities. ESC targets growing businesses and seeks to partner with experienced managements teams. The Firm looks to invest $50- $200 million per transaction. Energy Spectrum Capital was formed in 1995 and is based in Dallas, Texas.


DEAL STATS #
Overall 22 of 43
Sector: Energy Services and Equipment M&A 17 of 28
Type: Add-on Acquisition M&A Deals 7 of 22
State: Texas M&A 10 of 23
Country: United States M&A 20 of 40
Year: 2012 M&A 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-01 Velocity Midstream Partners II

Tulsa, Oklahoma, United States

Velocity Midstream Partners II LLC is a midstream company focused on engineering, acquiring, owning and operating efficient and cost-effective gas gathering and transportation pipelines, compression, treating and processing assets in Texas, Louisiana, and Oklahoma.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-29 Stonehenge Energy Resources

Westminster, Colorado, United States

Stonehenge was formed in 2007 to design, build, own and operate midstream assets, such as natural gas gathering, treating and processing facilities. It was created by principals of Kahuna Ventures, LLC, a premier midstream engineering consulting firm, who partnered with Energy Spectrum Capital, a leading midstream private equity company.

Sell $512M