I Squared Capital Acquires Majority Interest in Whistler Pipeline
Summary
The Whistler Pipeline is a leading core energy infrastructure system connecting the Permian Basin’s growing natural gas supply to LNG, Mexico, and Gulf Coast demand. The Whistler pipeline offers the rare combination of strong free cash flow, high-quality contracts, and operating rights on highly strategic natural gas infrastructure. The management team, who retain a significant portion of equity in the business, has an established reputation for growing contracted cash flows through developing and operating greenfield projects and has identified several initiatives to accelerate further growth of the platform. The system is comprised of approximately 450 miles of 42-inch diameter pipeline that transports natural gas from the Waha area in the Permian Basin to Agua Dulce, Texas with connections on to Corpus Christi and the coast. First Infrastructure Capital, Ridgemont Equity Partners and WhiteWater were advised by Simpson Thacher & Bartlett, LLP as legal counsel and Barclays as financial advisor.