CSV Midstream Solutions and Northleaf Capital Partners (Northleaf) announced that they have entered into a strategic investment partnership.
Image: Northleaf Capital Partners acquires CSV Midstream Solutions. Photo courtesy of rawpixel from Pixabay.
With this partnership, infrastructure funds managed by Northleaf have acquired 100% of CSV Midstream, including the 100 MMcf/day Resthaven gas processing facility and the 60 MMcf/day Pipestone South compressor station.
In addition to this transaction, the parties also announced the purchase of Paramount Resources Ltd.’s Karr 6-18 facility. CSV Midstream will assume the ongoing operations and construction management of the Karr gas processing plant expansion, bringing the facility’s total capacity to 150 MMcf/d. With the addition of the Karr 6-18 facility, CSV Midstream’s platform is well-positioned to serve a broad spectrum of oil and gas operators in northwestern Alberta.
“We are thrilled to be entering into this strategic ownership relationship with Northleaf,” said Daniel Clarke, founder and CEO of CSV Midstream. “We are very fortunate to have their backing and gain access to their deep experience in energy infrastructure and their relationships with the broader investment community. The value of our partnership has been clearly demonstrated by the significant accomplishments that the CSV Midstream team has achieved in a short time frame with the support and guidance of Northleaf.”
Jared Waldron, Managing Director, Infrastructure at Northleaf, added: “Direct investments in high-quality contracted energy assets, in partnership with world-class management teams like the one at CSV Midstream, are a core component of Northleaf’s strategy and offer our investors significant potential for stable, long-term returns. CSV Midstream’s assets represent a particularly attractive investment opportunity due to the quality of the underlying resource in the areas in which we are operating.”
Source: Company Press Release