Acquisition strengthens ARM’s natural gas market connectivity and links ARM supply portfolio with near-term demand
ARM Energy Holdings, LLC (“ARM”), a premier infrastructure and energy marketing services firm, today announced that it, along with certain of its affiliates and various financial partners and co-investors has acquired Monument Pipeline, LP (“Monument”), a Houston-based natural gas pipeline, from affiliates of NextEra Energy Partners, LP. Monument provides natural gas transportation and marketing services to end-users in the Houston area and will be operated by affiliates of ARM.
Monument is a natural gas transportation system with approximately 156 miles of pipeline originating at the Katy Hub, with connections to the Houston Ship Channel, La Porte and League City market areas. The pipeline also services several residential city gates in high-growth areas of the Greater Houston metroplex. Through Monument’s extensive existing footprint and growth potential, ARM will expand its marketing reach to a diverse group of additional end-users. ARM will continue to provide efficient and quality transportation services across Monument and other adjacent markets.
Zach Lee, Chief Executive Officer of ARM, said, “ARM has worked throughout its history to connect energy suppliers to demand centers and provide outstanding service and excellent results for our clients. Monument is a natural expansion of this mission, with strategic capabilities that enable our combined team to deliver enhanced services to meet our customers’ rising energy demand needs.”
Greenhill & Co. served as exclusive financial advisor, and Vinson & Elkins LLP and Eversheds Sutherland (US) LLP acted as legal advisors to the buyer for this transaction.
Source: Company Press Release