Basalt completes acquisition of Natural Gas Transmission Business from Third Coast Midstream
A fund managed by Basalt Infrastructure Partners II GP Limited has completed the acquisition of Third Coast Midstream LLC’s natural gas transmission business. The Houston-based business will be rebranded as Black Bear Transmission.
Black Bear Transmission includes 7 regulated natural gas pipelines with total capacity of over 1,600 MDth per day, stretching approximately 550 miles. The pipelines are connected to 8 major long-haul pipelines, ensuring reliable gas supply to customers across Louisiana, Alabama, Mississippi, Tennessee, and Arkansas.
The terms of the transaction are not being disclosed.
Barclays served as exclusive financial adviser to Basalt and Vinson & Elkins served as its legal adviser. RBC Capital Markets served as an exclusive financial advisor to the Third Coast and Orrick served as its legal adviser.
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