Enterprise Products Partners’ $3.25 Billion Acquisition of Navitas Midstream

Locke Lord advised Enterprise Products Partners L.P. on the deal, while Kirkland & Ellis advised Navitas Midstream Partners Holdings.

Enterprise Products Partners L.P. signed a definitive agreement to purchase 100% of the interests in Navitas Midstream Partners, LLC, from an affiliate of Warburg Pincus for $3.25 billion.

Navitas Midstream provides natural gas gathering, treating and processing services in the core of the Midland Basin of the Permian, which includes approximately 1,750 miles of pipelines and over 1 billion cubic feet per day of cryogenic natural gas processing capacity with the completion of the Leiker plant, which is expected in the first quarter of 2022. The transaction is expected to close in the first quarter of 2022, subject to customary regulatory approvals.

 

The Locke Lord team led by Joe Perillo (Picture), Rachel Fitzgerald and Terry Radney. Additional assistance was provided by Mark Backofen (Dallas) and John Arnold, Jerry Higdon, Sara Longtain, Ed Razim, Buddy Sanders, Max Stubbs, Hunter Summerford, Chris Verducci, Akilah Craig, Emma Doineau, Michelle Gutierrez-Begin, Matt McKenna, Andrew Nelson, Case Towslee and Kenton Wilson (all of Houston).

The Kirkland team was led by corporate partners Adam Larson, Jhett Nelson and Randy Santa Ana and included corporate associates Tess Dennis, Oscar Leija, Alexiz Magro-Malo and Hyrum Clarke; real assets partner Chad Smith and associate Isaac Bate; capital markets partners Julian Seiguer and Jennifer Wu and associate Rebecca Chang; executive compensation partner Rob Fowler and associate Carly Rhodes; labor and employment partners Madeline Klebanov and R.D. Kohut and associate Kayla Davis; employee benefits of counsel Jack Bernstein and associate Chris Chase; real estate partner Roberto Miceli; environmental transactions partners Paul Tanaka and Ty’Meka Reeves-Sobers; tax partners Mark Dundon and Joe Tobias; and antitrust partners Ian John and Chuck Boyars and associate Chris Brassfield.

Involved fees earner: Isaac Bate – Kirkland & Ellis; Jack Bernstein – Kirkland & Ellis; Chuck Boyars – Kirkland & Ellis; Chris Brassfield – Kirkland & Ellis; Rebecca Chang – Kirkland & Ellis; Chris Chase – Kirkland & Ellis; Hyrum Clarke – Kirkland & Ellis; Kayla Davis – Kirkland & Ellis; Tess Elizabeth Dennis – Kirkland & Ellis; Mark Dundon – Kirkland & Ellis; Robert Fowler – Kirkland & Ellis; Ian John – Kirkland & Ellis; Madeline Klebanov – Kirkland & Ellis; R.D. Kohut – Kirkland & Ellis; Adam Larson – Kirkland & Ellis; Oscar Leija – Kirkland & Ellis; Alexiz Magro-Malo – Kirkland & Ellis; Roberto Miceli – Kirkland & Ellis; Jhett Nelson – Kirkland & Ellis; Ty’Meka Reeves-Sobers – Kirkland & Ellis; Carly Rhodes – Kirkland & Ellis; Randy Santa Ana – Kirkland & Ellis; Julian Seiguer – Kirkland & Ellis; Chad Smith – Kirkland & Ellis; Paul Tanaka – Kirkland & Ellis; Joe Tobias – Kirkland & Ellis; Jennifer Wu – Kirkland & Ellis; John Arnold – Locke Lord; Mark Backofen – Locke Lord; Akilah Craig – Locke Lord; Emma Doineau – Locke Lord; Rachel Fitzgerald – Locke Lord; Michelle Gutierrez-Begin – Locke Lord; Gerald Higdon – Locke Lord; Sara Longtain – Locke Lord; Matthew McKenna – Locke Lord; Andrew Nelson – Locke Lord; Joe Perillo – Locke Lord; Terry Radney – Locke Lord; Edward Razim III – Locke Lord; Buddy Sanders – Locke Lord; Max Stubbs – Locke Lord; Hunter Summerford – Locke Lord; Case Towslee – Locke Lord; Chris Verducci – Locke Lord; Kenton Wilson – Locke Lord;

Law Firms: Kirkland & Ellis; Locke Lord;

Clients: Enterprise Products Partners LP; Navitas Midstream;

Martina Bellini

Author: Martina Bellini