DALLAS – Troutman Pepper Locke advised Tailwater Capital LLC (Tailwater), a leading energy and infrastructure private equity firm, in connection with its private equity investment and acquisition of Pickton Gas Storage LLC (Pickton), a natural gas storage and infrastructure platform led by the former management team of NorTex Midstream Partners (NorTex). For more information, see the press release.
The transaction reflects the firm’s deep capabilities across M&A, private equity, and commercial transactions in the energy sector, bringing together a cross-disciplinary team to advise on deal structuring, regulatory matters, and commercial agreements integral to the investment.
The investment marks a continuation of Tailwater’s longstanding partnership with the Pickton management team, which previously operated NorTex, one of the largest natural gas storage hubs serving the Dallas-Fort Worth Metroplex. Under Tailwater’s ownership, NorTex expanded its natural gas deliverability capabilities and improved the reliability of the North Texas power grid by executing commercial agreements to directly connect and supply natural gas to some of the area’s largest power plants.
The Troutman Pepper Locke team that represented Tailwater included Kevin Peter, Henry Benton, Tammi Niven, Jason McCloskey, Sydney Layne, Ashley Lopez, Pat Beaton, John Arnold, Bill Swanstrom, Buddy Sanders, Jerry Higdon, and Case Towslee, drawing on the firm’s M&A, private equity, energy regulatory, and commercial transactions practices.
Troutman Pepper Locke’s market-leading energy practices advise clients on their most complex transactions across the U.S. and internationally. The firm regularly counsels private equity sponsors, portfolio companies, financial institutions, electric utilities, independent power producers, upstream and midstream natural gas companies, and other large corporations on acquisitions, investments, and commercial agreements spanning the full energy value chain – from upstream oil and gas to midstream infrastructure, electric power, and emerging technologies. Learn more at energylawinsights.com.
Troutman Pepper Locke
Troutman Pepper Locke helps clients solve complex legal challenges and achieve their business goals in an ever-changing global economy. With more than 1,600 attorneys in 30+ offices, the firm serves clients in all major industry sectors, with particular depth in energy, financial services, health care and life sciences, insurance and reinsurance, private equity, and real estate. Learn more at troutman.com.