TPG Growth has completed its acquisition of Dallas-based, full-service midstream provider Discovery Midstream.

The acquisition is expected to position TPG Growth to execute its growth objectives successfully.

Established in 2015, Discovery Midstream provides oil and natural gas gathering and natural gas processing services in the southern portion of the Denver-Julesburg (DJ) Basin in Colorado.

According to TPG Growth, Discovery Midstream’s assets are strategically located in Adams and Weld counties and are backed by long-term contracts with important producers in the DJ Basin.

Currently, Discovery Midstream is constructing over 120 miles of pipeline along with a 60Mmcf/d natural gas processing plant which is likely to be commissioned in the third quarter. It is also planning to expand the capacity of the plant to 260Mmcf/d in 2018.

Discovery Midstream expects the transaction to help it get access to the experience and insights of TPG’s energy team which had partnered with energy companies like EnLink Midstream, Copano Energy, Northern Tier Energy and Jonah Energy in the past.

In mid June, Discovery Midstream had entered into a partnership with Old Ironsides Energy to target midstream infrastructure acquisition and greenfield development opportunities in North America.

Its new parent, TPG Growth is the middle market and growth equity platform of TPG, a global alternative asset company. Its deal to acquire Discovery Midstream for an undisclosed sum was made on June 27.

TPG has revealed that the current management team of Discovery Midstream will continue to run the midstream company and have invested an undisclosed sum along with TPG Growth for the acquisition.

TPG Growth targets investments in a wide range of industries and geographies through its $8.3bn of assets under management.