Elevate Midstream Receives Equity Commitment Of Up To US$100 Million From Tailwater Capital

Published: Oct 31 2017
Deal Summary

Elevate Midstream Partners, LLC, a midstream company, received an equity commitment of up to US$100 million (MM) from Tailwater Capital LLC, a private equity firm.

Elevate Midstream’s services include natural gas gathering, compression, treating, processing and transportation, crude oil and condensate gathering, stabilization, transportation and storage, produced water gathering and disposal, and other related services.

Porter Hedges LLP acted as legal advisor to Elevate Midstream in the transaction. The transaction enables Tailwater Capital to strengthen its investment portfolio.

Roger Fox, CEO of Elevate Midstream, said, “We couldn’t be more excited to partner with Tailwater to create a company focused on elevating customer standards for relationship driven, value oriented services within the midstream energy business. The Elevate team has a proven track record of delivering responsive and reliable midstream services to customers of all sizes across multiple basins with unique development goals. This background paired with the financial partnership with Tailwater will allow us to expedite our growth as we work to address an overlooked market segment among small to mid-sized production companies.”

Jason Downie, managing partner of Tailwater Capital, said, “Roger and his team have significant experience delivering ‘win-win’ customer focused midstream solutions. We believe that management’s extensive operational experience, deep industry relationships and track record of identifying scalable midstream opportunities will lead to a successful outcome. We are excited about this partnership and expect to increase our commitment with Elevate Midstream as the company executes its growth strategy.”

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