M&A Deal Summary

NuStar Energy Acquires Navigator Energy Services

On April 11, 2017, NuStar Energy acquired energy services and equipment company Navigator Energy Services from First Reserve for 1.5B USD

Acquisition Highlights
  • This is NuStar Energy’s 2nd transaction in the Energy Services and Equipment sector.
  • This is NuStar Energy’s largest (disclosed) transaction.
  • This is NuStar Energy’s 2nd transaction in the United States.
  • This is NuStar Energy’s 2nd transaction in Texas.

M&A Deal Summary
Date 2017-04-11
Target Navigator Energy Services
Sector Energy Services and Equipment
Buyer(s) NuStar Energy
Sellers(s) First Reserve
Deal Type Add-on Acquisition
Deal Value 1.5B USD
Advisor(s) Deutsche Bank Corporate & Investment Banking (Financial)
Simpson Thacher & Bartlett (Legal)

Target

Navigator Energy Services

Dallas, Texas, United States
Navigator Energy Services, LLC is a growth-oriented, independent midstream company focused on developing and delivering comprehensive midstream infrastructure solutions in response to the growing demand from America’s energy producers.

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Buyer(S) 1

Buyer

NuStar Energy

San Antonio, Texas, United States
Category Company
Founded 1999
Sector Energy Services and Equipment
Revenue 1.7B USD (2022)
DESCRIPTION

NuStar Energy is an independent liquids terminal and pipeline operator. The company currently has approximately 9,500 miles of pipeline and 63 terminal and storage facilities that store and distribute crude oil, refined products, renewable fuels, ammonia, and specialty liquids. NuStar Energy was founded in 1999 and is based in San Antonio, Texas.

DEAL STATS #
Overall 2 of 2
Sector (Energy Services and Equipment) 2 of 2
Type (Add-on Acquisition) 1 of 1
State (Texas) 2 of 2
Country (United States) 2 of 2
Year (2017) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-21 Martin Midstream Partners - Corpus Christi

Texas, United States

Martin Midstream Partners LP - Corpus Christi is a provider of crude oil and refined products.

Buy $93M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-10 NuStar Energy - St. Eustatius Terminal

San Antonio, Texas, United States

NuStar Energy LP - St. Eustatius Terminal consists of 60 commercial tanks and associated deep water jetties and pipelines, with a total storage capacity of 2.3 million cubic meters. It is conveniently located in the Caribbean region to serve key trading countries.

Sell $250M

Seller(S) 1

SELLER

First Reserve

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1983
PE ASSETS 32.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

First Reserve is a specialist private equity firm focused on investments in energy companies. First Reserve targets equity investments of $50 to $500 million in companies valued from $100 million to $10 billion. Target areas of interest within the energy industry include energy manufacturing and services (drilling service providers and wellhead equipment manufacturers), energy infrastructure, energy reserves, renewable energy and alternative fuels, and energy related insurance and financial products. First Reserve was established in 1983 and is based in Stamford, Connecticut.

DEAL STATS #
Overall 42 of 57
Sector (Energy Services and Equipment) 17 of 19
Type (Add-on Acquisition) 16 of 19
State (Texas) 13 of 20
Country (United States) 26 of 38
Year (2017) 1 of 1
Size (of disclosed) 4 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-01 Vista Proppants and Logistics

Fort Worth, Texas, United States

Vista Proppants and Logistics LLC is a provider of frac sand solutions for oil and gas well completions in producing regions in Texas and Oklahoma. Through its vertically integrated logistics network of transload terminals and fleet of “last-mile” transport vehicles, the company offers mine-to-wellhead frac sand supply chain solutions and security of supply in some of the most active oil and gas regions of the United States, including the Permian Basin, Eagle Ford Shale, and SCOOP/STACK.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-19 EMS USA - The Integrity Maintenance Platform

United States

EMS USA's The Integrity Maintenance Platform is a provider of comprehensive suite of solutions that includes integrity maintenance, cathodic protection, measurement and automation, O&M compliance, GIS, and control room operations.

Buy -
Mergr

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Legal