Lane42 Investment Partners has acquired Aqua Terra Permian, an energy infrastructure company in the Permian Basin, in partnership with Karis Midstream Partners. The buyers said the investment is intended to support the continued growth and expansion of Aqua Terra Permian’s essential midstream infrastructure services.
Aqua Terra Permian provides gathering, transportation, and saltwater disposal services for exploration and production customers with core acreage positions in the Permian Basin. The company operates a network that includes gathering and transportation assets as well as saltwater disposal wells, and it is supported by long-term contracts with investment-grade counterparties, according to the announcement.
The platform will be led by the Karis team, with Odely Sakazi and David Melton serving as CEO and COO, respectively. Lane42 said the transaction strengthens Aqua Terra Permian’s balance sheet and provides capital to support long-term growth while maintaining service levels for customers.
Support: Vinson & Elkins served as legal counsel, and Houlihan Lokey acted as exclusive financial advisor to Lane42. Stephens served as exclusive financial advisor to Karis Midstream Partners, while Kirkland & Ellis served as legal counsel to Aqua Terra Permian.
KEY QUOTES:
“The acquisition of Aqua Terra Permian in partnership with Karis demonstrates Lane42’s ability to deliver tailored capital solutions to great businesses with strong management teams. The transaction strengthens Aqua Terra Permian’s balance sheet and provides substantial capital necessary to support the Company’s long-term growth and continued exceptional service to its customers.”
David Bernfeld, Partner, Lane42 Investment Partners
“In Lane42, David Melton and I have found a partner that shares our vision for building a scaled, water-focused midstream company. We are excited to grow alongside our customers and to continue to deliver the high level of service they have come to expect from the Aqua Terra Permian team.”
Odely Sakazi, CEO, Karis Midstream Partners
