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Ardian’s Nordic platform led by industry executives Eero Auranne and Thomas Linnard will support transition towards sustainable energy in the region
The 53-turbine wind farm will be one of the largest in Sweden, which is a world leader in the innovation and development of sustainable energy. Sweden has passed legislation to go ‘carbon neutral’ by 2045, with Denmark, Norway and Finland all having made similar commitments.
Ardian’s portfolio in the Nordics, which already includes two wind farm investments in Norway and Sweden, will now exceed 400MW of gross capacity, corresponding to the yearly energy consumption of more than 600,000 electric vehicles. Separately, OX2 is currently building a record of over 1GW of wind power in the Nordics, of which approximately 90% is in Sweden.
Amir Sharifi, Managing Director at Ardian Infrastructure said: “In OX2, we have found an excellent partner. We look forward to together building a state-of-the-art wind farm using the latest available technology. Our goal is to achieve solid returns without subsidy and a positive impact on all stakeholders.”
Paul Stormoen, Managing Director at OX2 Wind said: “We are very pleased to have established a good business relationship with Ardian after a realisation process that was characterised by a high degree of professionalism and spirit of cooperation. We are now looking forward to beginning construction together with our sub-contractors. The wind farm is a significant local investment and a further important contribution to the ongoing global transition to a renewable energy sector.”
Mathias Burghardt, Member of the Executive Committee and Head of Ardian Infrastructure said: “As a leading investor in the sector, we see significant growth potential in supporting the rapid transition towards sustainable energy in the Nordics. This region has been a pioneer in energy innovation and building a liberalized power market. We look forward to building a leading independent Nordic platform that will become yet another example of how sustainability can provide value to both investors and society.”
Eero Auranne said: “Our partnership with Ardian, one of the largest private investment houses in the world, will provide both the resources and expertise to deliver on our plan to build a leading Nordic platform. We have already identified several interesting opportunities and look forward to taking advantage of them with Ardian’s support.”
Ardian has built or operated 2.3GW of renewable capacity in Europe and the Americas since 2006, including investments in wind, solar, hydro and biomass. Most recently, Ardian’s renewables platform in the US, Skyline Renewables, acquired four additional wind farms expanding its holdings to 803MW.
Partners Group, the global private markets investment manager, has provided a debt investment to US-based midstream terminaling and storage company TransMontaigne Partners L.P. (“TLP” or “the Company”) on behalf of its clients. The transaction supports the USD 536 million take-private acquisition of TLP by funds managed and/or advised by energy infrastructure investment manager ArcLight Capital Partners.
Founded in 2005 in Florida, TLP has built a strategic network of 51 midstream terminals and distribution assets spanning six key geographic locations. The Company has expanded its total storage capacity from approximately 5.5 million barrels in 2005 to more than 38 million barrels today. Its terminals and pipelines provide essential storage and transportation services to its customers, who are distributors and marketers for a wide array of petroleum products, including crude oil, chemicals, fertilizers and other liquid products.
Scott Essex, Partner and Head of Private Debt Americas at Partners Group, comments: “We are pleased to partner with ArcLight Capital Partners to provide financing as part of its acquisition of TLP. TLP’s impressive growth has demonstrated the strength of its business model, which is supported by a high-quality customer base with long-term contracts and led by a management team with a track record of creating value.”
Todd Bright, Partner and Head of Private Infrastructure Americas at Partners Group, adds: “This transaction demonstrates our ability to provide a flexible financing solution to energy and infrastructure companies through a collaborative investment led by both our private infrastructure and private debt teams. We anticipate further cross-team collaboration in the future to meet the evolving needs of the infrastructure sector across the capital structure.”
SAN FRANCISCO, February 21, 2019 — Genstar Capital, a leading private equity firm focused on investments in targeted segments of the software, industrial technology, healthcare, and financial services industries, announced that its portfolio company Drilling Info Holdings, Inc, has closed on the acquisition of Cortex, its fifth add-on acquisition since Genstar invested in Drillinginfo in July 2018. Drillinginfo is the leading SaaS and data analytics company serving the energy industry.
These acquisitions, combined with strong organic growth, strengthen Drillinginfo’s position as a global leader in delivering end to end software and intelligence for energy market participants. The acquisition of Cortex, a Network-as-a-Service company that enables automation of accounts payable and receivable (AP and AR) processes for the oil and gas industry, comes five months after the acquisition Oildex, the largest oil & gas business automation software firm in North America, transforming the way the industry connects, collaborates, and automates data exchanges in energy. In December 2018, Drillinginfo acquired MineralSoft, a software platform designed to make managing mineral, royalty, and non-operated working interests easier and more profitable; and earlier acquired 1Derrick and PLS’s research and database business, two highly visible companies in the oil and gas industry that offer market research solutions for sourcing, valuing, and analyzing asset and corporate transactions.
The investment last year by Genstar is allowing Drillinginfo to build on its deep roots as the dominant provider of decision support software for the energy sector. The acquisitions both strengthen the areas in which Drillinginfo is best known and broaden its offerings across the energy value chain to include business automation and commodity data solutions.
Eli Weiss, Managing Director of Genstar, said, “When we acquired Drillinginfo last year we said we would build the business and drive growth in part by expanding service offerings through selective acquisitions to enhance its workflow, analytics and data solutions. Our goal is to create the leading software service in the energy ecosystem and we are well on the way. These five acquisitions have greatly broadened the company’s suite of solutions and will deliver new software and more integrated operational intelligence to Drillinginfo’s customers across the entire energy spectrum. We are still in the early innings of a technology revolution in the energy industry and as a result of these and other initiatives, there is increasing separation between Drillinginfo and the competition.”
Jeff Hughes, President and CEO of Drillinginfo, said, “We are excited to have these impactful acquisitions and the experienced management teams join Drillinginfo to help transform the company, offer new capabilities to our customers and help tap entirely new market opportunities. As an example, MineralSoft enables customers to effectively manage oil and gas non-operated interests and for the first time allows us to enter this enormous asset class with an integrated software platform.”
Genstar and the Drillinginfo team continue to pursue a robust pipeline of strategic acquisition targets that represent an opportunity to put additional capital behind the company’s strong management team and help develop innovative and transformative solutions to save time, improve efficiency and ultimately drive better, faster decisions in the energy industry.
Drillinginfo delivers business-critical insights to the energy, power, and commodities markets. Its state-of-the-art SaaS platform offers sophisticated technology, powerful analytics, and industry-leading data. Drillinginfo’s solutions deliver value across upstream, midstream and downstream markets, empowering exploration and production (E&P), oilfield services, midstream, utilities, trading and risk, and capital markets companies to be more collaborative, efficient, and competitive. Drillinginfo delivers actionable intelligence over mobile, web, and desktop to analyze and reduce risk, conduct competitive benchmarking, and uncover market insights. Drillinginfo serves over 5,000 companies globally from its Austin, Texas, headquarters and has more than 1,000 employees. For more information visit drillinginfo.com.
Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for over 30 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar currently has approximately $10 billion of assets under management and targets investments focused on targeted segments of the financial services, software, industrial technology, and healthcare industries.
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Contact: Chris Tofalli
Chris Tofalli Public Relations
914-834-4334
The subsidiary of Ardian Infrastructure made the acquisition of four additional wind farms expanding Skyline’s holdings to 803 MW
The US wind farms are located in Iowa, Kansas, Pennsylvania and Wyoming providing clean renewable energy to major population centers across the country.
“We set out to become a leading North American clean independent energy platform,” said Skyline Renewables President & CEO, Martin Mugica. “This latest acquisition marks an important step forward as it diversifies our portfolio geographically and it marks the first tax equity financing fully negotiated by Skyline Renewables. We are excited to extend our partnership with Capital One as tax equity partner with this portfolio and look forward to further opportunities as we execute our strategy.”
“We are delighted to partner with Skyline Renewables to help them complete this acquisition,” said George Revock, Managing Director and Head of Alternative Energy and Project Finance at Capital One. “This investment is emblematic of Capital One’s commitment to be a leading supplier of financing to the renewable energy sector.”
With this latest acquisition, Skyline Renewables will grow its wind portfolio to 803 MW of controlled capacity since forming the company earlier last year as a partnership between Ardian and Transatlantic Power Holdings. Skyline Renewables announced its first acquisition of Whirlwind Energy, a 60 MW project in NW Texas, in March 2018. In September 2018, they acquired Hackberry Wind Farm, a 166 MW farm also in NW Texas, and in October 2018 announced the acquisition of Starwood Energy’s 51% interest in the Horse Creek and Electra wind farms, both 230 MW projects.
“We are ambitious, nimble and we have deep industry expertise,” continued Mr. Mugica. “There are many promising opportunities ahead as we expand Skyline’s reach to different parts of the country with strong clean energy assets that will allow us to actively manage our assets and optimize returns.”
CCA Capital served as advisors to Skyline Renewables to support the tax equity financing.
Ardian Infrastructure is a world leading Infrastructure Fund Manager with special focus in Energy and Transport sectors. In the Renewable space, Ardian Infrastructure accounts circa 2 GW through various technologies: wind, solar, hydro and biomass. Ardian Infrastructure renewables is present in many geographies: North and South America and in Europe including Nordic countries.
The subsidiary of Ardian Infrastructure made the acquisition of four additional wind farms expanding Skyline’s holdings to 803 MW
Portland, February 12, 2019 – Skyline Renewables has purchased a 117 megawatt (MW) wind portfolio from NJR Clean Energy Ventures (CEV), the clean energy subsidiary of New Jersey Resources (NYSE: NJR).
The US wind farms are located in Iowa, Kansas, Pennsylvania and Wyoming providing clean renewable energy to major population centers across the country.
“We set out to become a leading North American clean independent energy platform,” said Skyline Renewables President & CEO, Martin Mugica. “This latest acquisition marks an important step forward as it diversifies our portfolio geographically and it marks the first tax equity financing fully negotiated by Skyline Renewables. We are excited to extend our partnership with Capital One as tax equity partner with this portfolio and look forward to further opportunities as we execute our strategy.”
“We are delighted to partner with Skyline Renewables to help them complete this acquisition,” said George Revock, Managing Director and Head of Alternative Energy and Project Finance at Capital One. “This investment is emblematic of Capital One’s commitment to be a leading supplier of financing to the renewable energy sector.”
With this latest acquisition, Skyline Renewables will grow its wind portfolio to 803 MW of controlled capacity since forming the company earlier last year as a partnership between Ardian and Transatlantic Power Holdings. Skyline Renewables announced its first acquisition of Whirlwind Energy, a 60 MW project in NW Texas, in March 2018. In September 2018, they acquired Hackberry Wind Farm, a 166 MW farm also in NW Texas, and in October 2018 announced the acquisition of Starwood Energy’s 51% interest in the Horse Creek and Electra wind farms, both 230 MW projects.
“We are ambitious, nimble and we have deep industry expertise,” continued Mr. Mugica. “There are many promising opportunities ahead as we expand Skyline’s reach to different parts of the country with strong clean energy assets that will allow us to actively manage our assets and optimize returns.”
CCA Capital served as advisors to Skyline Renewables to support the tax equity financing.
Skyline Renewables is a partnership between Transatlantic Power Holdings (TPH) and Ardian, a world-leading private investment house, to establish a leading North American renewables platform. With a current wind portfolio of 803 MW, Skyline Renewables aims to build a total installed capacity of 3 GW. Skyline Renewables was formed when it announced its first acquisition, Whirlwind, a 60MW windfarm in Texas, in March 2018. CEO, Martin Mugica, a top executive within the US clean energy sector with expertise in wind, solar, natural gas fired generation and power trading activities, leads Skyline Renewables. Skyline Renewables’ leadership team features a number of the individuals who helped build and lead Iberdrola Renewables to become the then second largest and fastest growing renewables energy company in the US, at that time.
Ardian Infrastructure is a world leading Infrastructure Fund Manager with special focus in Energy and Transport sectors. In the Renewable space, Ardian Infrastructure accounts circa 2 GW through various technologies: wind, solar, hydro and biomass. Ardian Infrastructure renewables is present in many geographies: North and South America and in Europe including Nordic countries.
The Woodlands and New York, February 5, 2019 – Today, Blackstone (NYSE:BX) (“Blackstone”) announced that funds managed by Blackstone Energy Partners L.P. have formed Waterfield Midstream (“Waterfield”), a full-cycle provider of water management services, including water gathering, treatment, recycling and disposal, to provide solutions to producers in the Permian Basin. Waterfield is Blackstone’s water midstream platform in the Permian Basin and has a $500 million equity commitment to pursue greenfield development and acquisitions of water-related infrastructure, helping producers minimize the environmental impact and operating cost of oil and gas production.
Waterfield is led by Co-Chief Executive Officers Scott Mitchell and Mark Cahill, who previously built and led Anadarko’s and Western Gas’s Permian Basin commercial water infrastructure platform. Since partnering with Blackstone last summer, Waterfield has put together a highly skilled team that brings together upstream and midstream technical expertise with a deep understanding of the subsurface and operating characteristics of the Permian Basin. This expertise positions Waterfield to provide reliable, turn-key services for its customers.
Recently, Waterfield signed a 15-year contract with Guidon Energy (“Guidon”) to construct a new system to handle Guidon’s water gathering and disposal needs across its ~40,000 acre position in Martin County, Texas. In Martin County, Waterfield is targeting deeper disposal zones, as opposed to shallow disposal zones, to provide long-term flow assurance and to support optimal drilling conditions for its upstream customers. Additionally, Waterfield has entered into an agreement with EagleClaw Midstream (“EagleClaw”) to operate EagleClaw’s water assets in Reeves County, Texas. These assets consist of 58 miles of gathering lines and 390,000 barrels per day of permitted water disposal capacity.
“We are excited to have partnered with Blackstone,” said Co-CEO Scott Mitchell. “Blackstone shares our vision of developing a long-term and sustainable water business focused on flow assurance in the Permian Basin. We are confident that Waterfield can deliver high quality and cost-effective outcomes for our customers. The opportunity to build Waterfield with the commitment and support of Blackstone’s upstream expertise, capital, industry relationships and successful track record greatly enhances our ability to execute this vision.”
“In addition, we are excited to work with Guidon and EagleClaw,” said Co-CEO Mark Cahill. “They are both exceptional companies with technical expertise, operating excellence, financial discipline and integrity. We believe Waterfield Midstream brings those same qualities to the water management market in the Permian Basin.”
Angelo Acconcia, Senior Managing Director at Blackstone who oversees its upstream investments, said, “Our partnership with Scott and Mark is illustrative of our strategy of enabling and building best-in-class management teams with proven technical and operational expertise. We are excited to work with them to build the leading water management platform in the basin and to provide unique, long-term water solutions of scale to upstream companies in the Permian.”
Erik Belz, Principal at Blackstone, added, “We believe that Waterfield addresses a critical need of producers in the Permian Basin both in terms of infrastructure and quality of service. Waterfield’s subsurface capabilities and engineering track record set it apart from other offerings in the market.”
About Blackstone Energy Partners
Blackstone Energy Partners is Blackstone’s energy-focused private equity business, with a successful track record built on our industry expertise and partnerships with exceptional management teams. Blackstone has invested and committed approximately $16 billion of equity globally across a broad range of sectors within the energy industry.
About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with $472 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Follow Blackstone on Twitter @Blackstone.
Further information is available at www.blackstone.com and at www.waterfieldmidstream.com
Contact:
Paula Chirhart
+1-212-583-5011
paula.chirhart@blackstone.com
Calgary, AB – February 1, 2019: Campus Energy Partners LP (“Campus Energy” or the “Company”)
today announced the closing of the acquisition of certain natural gas midstream, power, and commercial
and industrial marketing assets from AltaGas Ltd. (“AltaGas”).
Campus Energy Partners is a newly formed private entity owned by Birch Hill Equity Partners (“Birch
Hill”).
The Company’s energy infrastructure assets are located throughout Western Canada and include two
natural gas transmission pipeline systems, five natural gas gathering and processing facilities, an LNG
processing facility, and two power peaking units. Its energy supply solutions include providing natural
gas and electricity to customers in British Columbia, Alberta, Saskatchewan, Manitoba and Ontario.
Campus Energy will be headquartered in Calgary and led by Jeremy Baines, newly appointed President
and Chief Executive Officer. Baines was formerly Senior Vice President of Strategic Projects with
AltaGas.
“We are a new company at Campus Energy, but we also have a long history of serving customers with
energy solutions. As Campus Energy, we will continue to operate safely, provide customers with creative
solutions, and be a contributor to the communities where we operate. We’ll also be actively seeking
opportunities to grow our business both organically and through acquisitions,” said Baines.
“It’s an exciting time for Birch Hill when we add a new partner company. We look forward to working
with Jeremy and his team of talented people at Campus Energy to build on their past successes as part of
AltaGas. The new company has a strong base of assets and operations to build from so we look forward
to expanding their customer reach and supporting their future growth plans,” said Michael Salamon, a
Partner with Birch Hill.
Additional information on Campus Energy can be found at www.campusenergy.ca.
About Birch Hill Equity Partners
With over $3 billion in capital under management, 17 partner companies and 45 fully realized investments
since 1994, Birch Hill is the leader in long-term value creation in the Canadian mid-market. For more
information about Birch Hill Equity Partners, please visit www.birchhillequity.com.
Contact:
Jeremy Baines – President and CEO – Campus Energy Partners
(403) 206-2832
Leawood, KS and New York, NY – January 31, 2019 – Tallgrass Energy, LP (NYSE: TGE) and Blackstone (NYSE: BX) today announced that affiliates of Blackstone Infrastructure Partners have entered into a definitive agreement with affiliates of Kelso & Co., The Energy & Minerals Group, and Tallgrass KC, LLC, an entity owned by certain members of TGE’s management, to acquire 100% of the membership interests in TGE’s general partner, as well as an approximately 44% economic interest in Tallgrass, for total cash consideration of approximately $3.3 billion. Affiliates of GIC, Singapore’s sovereign wealth fund, will be a minority investor in the transaction.
“Blackstone’s scale, long-term capital, and investment expertise across the energy industry make it an ideal partner for our business as we continue to create value and invest capital in accretive growth opportunities,” said Tallgrass President and CEO David G. Dehaemers Jr. “We appreciate the successful partnership we have had with Kelso and EMG since 2012 and thank them for their significant support. We look forward to working with Blackstone to continue maximizing value for all stakeholders.”
“Tallgrass is managed by an exceptional team that has an outstanding track record of commercial, operational and financial success,” said Sean Klimczak, Global Head of Infrastructure at Blackstone. “This transaction represents a rare opportunity to invest in a large-scale U.S. midstream infrastructure platform that connects high-production supply basins to key markets and is underpinned by long-term contracts. We are excited to partner with and to support the established Tallgrass management team over the long term as they execute on their robust backlog of attractive growth projects.”
Closing of the transaction remains subject to customary closing conditions and is expected within the first quarter of 2019.
Transaction Advisors
Baker Botts L.L.P. acted as legal advisor to Tallgrass. Citi acted as the financial advisor and Vinson & Elkins acted as the legal advisor to Blackstone on the transaction. Sidley Austin LLP acted as the legal advisor to GIC.
About Tallgrass Energy
Tallgrass Energy, LP (NYSE: TGE) is a growth-oriented midstream energy infrastructure company operating across 11 states with transportation, storage, terminal, water, gathering and processing assets that serve some of the nation’s most prolific crude oil and natural gas basins.
To learn more, please visit www.tallgrassenergy.com.
About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies in which we invest, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with $457 billion in assets under management, include investment vehicles focused on infrastructure, private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on twitter @Blackstone.
About GIC
GIC is a leading global investment firm with well over US$100 billion in assets under management. Established in 1981 to secure the financial future of Singapore, the firm manages Singapore’s foreign reserves. With its disciplined long-term value approach, GIC is uniquely positioned to invest in both the public and private markets, including equities, fixed income, real estate, private equity and infrastructure. In infrastructure, GIC’s primary strategy is to invest directly in operating infrastructure assets with a high degree of cash flow visibility and which provide a hedge against inflation. These include mature, low to moderate-risk assets in developed markets, complemented by investments with higher growth potential in emerging markets. Headquartered in Singapore, GIC employs over 1,500 people across 10 offices in key financial cities worldwide. For more information about GIC, please visit www.gic.com.sg.
Cautionary Note Concerning Forward-Looking Statements
Disclosures in this press release contain forward-looking statements. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that management expects, believes or anticipates will or may occur in the future are forward-looking statements, including whether the proposed transaction will occur in the first quarter of 2019 or at all. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Tallgrass or Blackstone, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements, and other important factors that could cause actual results to differ materially from those projected, including those set forth in reports filed by Tallgrass or Blackstone with the Securities and Exchange Commission. Any forward-looking statement applies only as of the date on which such statement is made and neither Tallgrass nor Blackstone intend to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
Contact
Tallgrass Energy:
Investor and Financial Inquiries
Nate Lien, 913-928-6012
investor.relations@tallgrassenergylp.com
or
Media and Trade Inquiries
Phyllis Hammond, 303-763-3568
phyllis.hammond@tallgrassenergylp.com
Blackstone:
Paula Chirhart
Public Affairs, Blackstone
+1-212-583-5011
paula.chirhart@blackstone.com
