Private equity firm TPG Capital
agreed to acquire a majority stake in water
services provider Goodnight Midstream
from PE firm Tailwater Capital
and private investors for $930
million. TPG also committed
more than $300 million for Goodnight’s
continued expansion through additional
growth equity and proceeds from
committed debt financing.
The deal launches TPG into the water
handling segment, which has grown with
fracking. Goodnight Midstream operates
in the Permian Basin, Bakken and Eagle
Ford and claims long-term contracts with
some of the most active producers in
these regions.
The acquisition opens......
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