Tailwater Capital LLC has invested $100 million in Dallas-based Producers Midstream LP, a newly formed company that will provide midstream infrastructure solutions to upstream operators across various basins. Locke Lord LLP advised Tailwater on this transaction while Mack Matheson & Marchesoni PLLC and Stephens Inc advised Producers Midstream LP.
DALLAS, Oct. 4, 2016 /PRNewswire/ — Tailwater Capital LLC (“Tailwater”), an energy-focused private equity firm based in Dallas, announced an initial equity commitment of $100 million to Producers Midstream LP (“Producers” or the “Company”), a newly-formed portfolio company that will provide creative midstream infrastructure solutions to upstream operators across various basins. The Company has a broad geographic scope, but will initially focus on greenfield and strategic acquisition opportunities in Texas, Oklahoma, and New Mexico.
Producers Midstream is led by Chief Executive Officer, Jim Bryant. Mr. Bryant has more than 50 years of experience in the oil and gas business, specifically in the engineering, development and management of midstream facilities. He has a proven track record of successfully growing businesses across industry cycles and was a co-founder of several midstream companies including Endevco, Inc., Regency Gas Services, LLC and Cardinal Midstream, LLC.
Mr. Bryant has partnered with a veteran management team including CFO Hudson White, VP of Business Development and Commercial Matt Flory, VP of Engineering and Operations James Hegar, and VP of Business Development and Commercial Chad Choate. Collectively, the management team brings more than 75 years of combined experience in the midstream sector through their roles at Energy Transfer Partners, Regency Energy Partners, PVR Partners, Valerus Field Solutions and various others.
“We are thrilled to partner with the Tailwater team on this endeavor. Many of the management team members, including myself, have known the Partners at Tailwater for a long time. Tailwater brings a thoughtful and creative approach to oil and gas private equity that will serve Producers Midstream well,” said CEO Jim Bryant.
Jason Downie, Managing Partner at Tailwater Capital, said: “The Producers team has a remarkable track record of providing comprehensive, ‘win-win’ solutions to the midstream industry. Jim and the rest of management have a unique opportunity to leverage their experience and relationships to be successful in this endeavor. We are very excited to partner with such an outstanding group of industry leaders.”
Tailwater Capital was advised by Locke Lord LLP on this transaction and Producers Midstream LP was advised by Mack Matheson & Marchesoni PLLC and Stephens Inc.
About Producers Midstream LP
Headquartered in Dallas, Texas, Producers is a newly-formed portfolio company that will focus primarily on greenfield and strategic acquisition opportunities in high growth basins across the United States.
About Tailwater Capital LLC
Dallas-based Tailwater Capital is a highly specialized, growth-oriented energy private equity firm with a well-established track record, having executed more than 35 energy transactions representing over $11 billion in transaction value. Tailwater currently manages over $1.6 billion in equity capital, over $700 million of which is available for new investments. Tailwater is focused on acquiring and growing midstream assets as well as participating in non-operated upstream opportunities in select basins. For more information, please visit www.tailwatercapital.com.