Investment Summary

First Infrastructure and Ridgemont Equity Partners Exits Whistler Pipeline

On February 16, 2023, infrastructure investor I Squared Capital invested in oil/gas exploration company Whistler Pipeline from First Infrastructure and Ridgemont Equity Partners

Investment Highlights
  • This is I Squared Capital’s 3rd transaction in the Oil/Gas Exploration sector.
  • This is I Squared Capital’s 10th transaction in the United States.

Investment Summary

Date 2023-02-16
Target Whistler Pipeline
Sector Oil/Gas Exploration
Investor(s) I Squared Capital
Sellers(s) First Infrastructure
Ridgemont Equity Partners
Deal Type Secondary Buyout

Target

Whistler Pipeline

United States
Whistler Pipeline is an core energy infrastructure system connecting the Permian Basin’s growing natural gas supply to LNG, Mexico, and Gulf Coast demand. Whistler Pipeline is based in United States.

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Investor(S) 1

DESCRIPTION

I Squared Capital is a global infrastructure investment manager focusing on energy, utilities, and transportation assets in North America, Europe, and select high growth economies. I Squared Capital was established in 2012 and is headquartered in New York City.


DEAL STATS #
Overall 40 of 53
Sector: Oil/Gas Exploration M&A 3 of 3
Type: Secondary Buyout M&A Deals 5 of 10
Country: United States M&A 10 of 16
Year: 2023 M&A 4 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-08 nLighten

Schiphol-Rijk, Netherlands

nLighten is a digital infrastructure platform developing innovative edge data centers distributed across European key economic hubs to provide best-in-class network access to regional, national and global enterprises, private users and the mobile workforce. nLighten was founded in 2021 and is based in Schiphol-Rijk, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-21 Enva

Ireland

Enva is an environmental services platform providing mission-critical, highly specialized, and regulated waste management services in the UK and Ireland. The company conducts waste collection, processing, and resource recovery at 34 facilities across the UK and Ireland, serving more than 20,000 industrial, energy, automotive, and other customers. It focuses on waste streams with complex technical and regulatory characteristics, requiring specialized expertise and licenses. Enva was formed in 1972 and is based in Ireland.

Buy -

Seller(S) 2

SELLER
DESCRIPTION

First Infrastructure Capital Advisors sources, develops, structures, and invests in infrastructure projects and companies in the electric power, telecommunications, midstream, downstream, and renewable energy industries. First Infrastructure Capital Advisors is headquartered in Houston, Texas.


DEAL STATS #
Overall 1 of 1
Sector: Oil/Gas Exploration M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
Country: United States M&A 1 of 1
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-04 WhiteWater Midstream

Austin, Texas, United States

WhiteWater Midstream is a midstream oil and gas company focused on building traditional gathering and processing infrastructure for upstream companies in areas lacking infrastructure. WhiteWater Midstream was founded in 2016 and is based in Austin, Texas.

Buy -
SELLER

Ridgemont Equity Partners

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ridgemont Equity Partners is an independent private equity firm specializing in middle-market buy-outs, corporate divestitures, recapitalizations and growth capital investments. The Firm targets to invest in companies located in North America, preferably in US and Canada. REP looks to invest up to $500 million in companies with EBIDTA of $5 - $50 million. The Firm seeks to hold both majority and minority equity interest in portfolio companies. Specific areas of interest include basin industries and services, energy, healthcare, telecommunications, media and technology. Ridgemont Equity Partners is a spun-off of Banc of America Capital Investors (BACI). Ridgemont Equity Partners was formed in August 2010 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 89 of 93
Sector: Oil/Gas Exploration M&A 6 of 6
Type: Secondary Buyout M&A Deals 24 of 25
Country: United States M&A 78 of 82
Year: 2023 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-09 Worldwide Produce

Los Angeles, California, United States

Worldwide Produce is a distributor of fresh fruits, vegetables, dairy products, and specialty foods to independent and chain restaurants across the Western United States. Worldwide Produce operates two distribution facilities located in Los Angeles, CA, and Las Vegas, NV. Worldwide Produce was founded in 1989 and is based in Los Angeles, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-16 Unite Private Networks

Kansas City, Missouri, United States

Unite Private Networks provides high-bandwidth, fiber-based communications networks and related services to schools, governments, carriers, data centers, hospitals, and enterprise business customers throughout the United States. Service offerings include dark and lit fiber, private line, metro-optical Ethernet, Internet access, data center services, and other customized solutions. Unite Private Networks was founded in 1998 and is based in Kansas City, Missouri.

Sell -