Kinetik to sell stake in GCX; Tim Short and Michael Hamilton launch Acadia

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Kinetik to sell stake in GCX; Tim Short and Michael Hamilton launch Acadia

Happy Wire Wednesday folks.

It’s Michael Schoeck, filling in for Chris Witkowsky.

I've been covering M&A in the energy sector for the last eight years, and today I'm sharing some developments across the booming energy transition market.

First up this morning, I published a scoop on Kinetik Holdings, a midstream energy company that’s seeking to divest a 16 percent equity stake in the Gulf Coast Express pipeline. PE firms are interested, sources told me.

I’ve also got a Deep Dive into the metals and mining sector, including a conversation with Jacqueline Murray, team leader of Resource Capital Funds’ private equity group, which is selling a key asset to a group led by Eldridge.

There’s a new firm on the scene. Tim Short and Michael Hamilton have launched Acadia Infrastructure Capital, a mid-market energy transition-focused equity investment platform. I exchanged some email with Short, and I’ll share his comment with subscribers to the Wire.

Beyond the energy sector, I’m sharing with subscribers look-ahead commentary on the international M&A front from investment bank RW Baird.

Let’s start off with the sale process.

For sale

Kinetik Holdings is selling a 16 percent equity stake in the Gulf Coast Express pipeline, sources familiar with the matter told me. Private equity firms are reportedly interested.

Upgrade to the premium version of the Wire to learn exclusive details on pricing metrics for the asset sale and the company's sell-side adviser.

RCF mines for value

Shifting to metals and minerals, there is a hot bed of investment activity. Resource Capital Funds, a Denver-based private equity firm focused on metals and mining, expects to soon close the sale of Ausenco, a Brisbane, Australia-based engineering and consulting services provider, to Eldridge and co-investors for $578 million (AUS$900 million).

I caught up with Jaqueline Murray, partner and investment team leader of RCF’s private equity group, to find out more.

Premium subscribers may read the interview.

Mid-market energy transition

And the last item for energy transition news today: Tim Short and Michael Hamilton have launched Acadia Infrastructure Capital, a mid market energy transition-focused equity investment platform. Short and Hamilton will lead the Acadia team which is focused on $50 million - $150 million investments.

Upgrade to a premium subscription to see what Short said about the new firm in an email exchange with me.

That’s it for me today. Keep your eyes peeled for the Thursday edition of the Wire, with PE Hub editor-in-chief MK Flynn at the helm.

Cheers,

Michael

Read the full wire commentary on PE Hub ...

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