Tailwater to exit midstream company Align

Piper Sandler & Co. served as financial advisor to Align while Locke Lord served as legal counsel.

  • The transaction is Tailwater’s second exit for Align
  • In September 2017, Tailwater announced the sale of Align Midstream, LLC to Enable Midstream for $300 million
  • Tailwater raised more than $3.8 billion in committed capital since inception

Tailwater Capital has agreed to sell Dallas-based midstream company Align Midstream Partners II to M6 Midstream. No financial terms were disclosed.

M6 Midstream is a Houston-based midstream company.

“We are proud of the execution success demonstrated by the Align team over the last five years,” said Jason Downie, co-founder and managing partner at Tailwater, in a statement. “Their best-in-class commercial and operational capabilities and superior customer service allowed the company to develop critical midstream infrastructure that will feed downstream gas demand growth for years to come. This marks the second consecutive exit from Align and another strong return for our investors.”

The transaction is Tailwater’s second exit for Align. In September 2017, Tailwater announced the sale of Align Midstream, LLC to Enable Midstream for $300 million.

Piper Sandler & Co. served as financial advisor to Align in connection with the transaction. Locke Lord served as legal counsel.

Dallas-based Tailwater Capital is an energy and growth infrastructure private equity that has raised more than $3.8 billion in committed capital since inception.