M&A Deal Summary

Enable Midstream Partners Acquires Align Midstream

On September 12, 2017, Enable Midstream Partners acquired oil/gas exploration company Align Midstream from Tailwater Capital for 300M USD

Acquisition Highlights
  • This is Enable Midstream Partners’ 1st transaction in the Oil/Gas Exploration sector.
  • This is Enable Midstream Partners’ largest (disclosed) transaction.
  • This is Enable Midstream Partners’ 1st transaction in the United States.
  • This is Enable Midstream Partners’ 1st transaction in Texas.

M&A Deal Summary
Date 2017-09-12
Target Align Midstream
Sector Oil/Gas Exploration
Buyer(s) Enable Midstream Partners
Sellers(s) Tailwater Capital
Deal Type Add-on Acquisition
Deal Value 300M USD
Advisor(s) Simmons & Company
Piper Jaffray Companies (Financial)
Locke Lord (Legal)

Target

Align Midstream

Dallas, Texas, United States
Align is a Dallas-based midstream company focused on servicing producers’ needs in East Texas and North Louisiana. Align operates a 100-million cubic feet per day cryogenic natural gas processing plant in Panola, Texas, and approximately 190 miles of natural gas gathering pipelines across Rusk, Panola and Shelby counties in Texas and DeSoto Parish in Louisiana. Align’s assets are underpinned with long-term, fee-based contracts, including approximately 100,000 gross acres of dedication from producer customers.

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Buyer(S) 1

Buyer

Enable Midstream Partners

Oklahoma City, Oklahoma, United States
Category Company
Founded 2013
Sector Oil/Gas Exploration
Employees1,706
Revenue 2.5B USD (2020)
DESCRIPTION

Enable Midstream Partners is an operator and developer strategically located natural gas and crude oil infrastructure assets. Enable’s assets include approximately 12,900 miles of gathering pipelines, 14 major processing plants with approximately 2.5 Bcf/d of processing capacity, approximately 7,800 miles of interstate pipelines, approximately 2,200 miles of intrastate pipelines, and eight storage facilities comprising 85.0 billion cubic feet of storage capacity. Enable Midstream Partners was founded in 2013 and is based in Oklahoma City, Oklahoma.

DEAL STATS #
Overall 1 of 2
Sector (Oil/Gas Exploration) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (Texas) 1 of 1
Country (United States) 1 of 2
Year (2017) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-01 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 -

Seller(S) 1

SELLER

Tailwater Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2013
PE ASSETS 4.4B USD
Size Large
Type Sector Focused
DESCRIPTION

Tailwater Capital LLC is a specialist private equity firm focused on middle-market opportunities in the midstream and upstream sectors of the energy industry. Tailwater will consider acquisitions of non-core assets, roll-up situations, anchored greenfields, and joint ventures. Tailwater Capital was formed in 2013 and is based in Dallas, Texas.

DEAL STATS #
Overall 3 of 8
Sector (Oil/Gas Exploration) 2 of 5
Type (Add-on Acquisition) 1 of 5
State (Texas) 3 of 6
Country (United States) 3 of 8
Year (2017) 1 of 1
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-01 Align Midstream Partners II

Dallas, Texas, United States

Align Midstream Partners II is a midstream company focused on serving producers’ needs in emerging and established basins within the US. Align is concentrated on building greenfield midstream assets including gas, crude oil, and water gathering pipelines, treating and processing plants, and salt water disposal wells in emerging basins. Align Midstream Partners II was founded in 2017 and is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-17 Copperbeck

Dallas, Texas, United States

Copperbeck is a private energy company focused on providing strategic midstream and downstream-adjacent infrastructure and services for refineries, petrochemical, and industrial concerns. Copperbeck was formed in 2017 and is based in Dallas, Texas.

Buy -
Mergr

Product

Company

Legal