Tailwater Capital (Tailwater) is pleased to announce that Align Midstream, LLC (Align) has entered into a definitive agreement to sell the company to Enable Midstream Partners, LP (Enable) for approximately US$300 million, subject to certain customary adjustments.
"This transaction is a very important milestone for our team," said Fritz Brinkman, Chief Executive Officer of Align. "Over the past three years, we have created significant value for our stakeholders through acquiring and connecting underutilized gathering and processing assets to create an extensive system. This platform now serves some of the best producers in the basin."
Jason Downie, Managing Partner at Tailwater, said: "We are proud of the execution success demonstrated by Fritz Brinkman and his team at Align. Their ability to create a vertically integrated midstream asset and to achieve a strong return for our investors is second to none. The Align team has built a best-in-class asset centred on customer service that will provide meaningful value to Enable's midstream strategy."
The transaction is subject to regulatory approval and closing conditions and is expected to close as soon as practicable after such regulatory approvals and closing conditions have been satisfied.
Read the article online at: https://www.worldpipelines.com/business-news/14092017/enable-to-purchase-align-midstream-for-approximately-us300-million/