Copperbeck Energy Partners LLC has announced an equity commitment from Tailwater Capital, an energy-focused private equity firm based in Dallas, Texas, US.
Copperbeck is focused on providing strategic midstream and downstream-adjacent infrastructure and services for refineries, petrochemical and industrial concerns.
Copperbeck’s Chief Executive Officer, Wes Martin, said: "We're excited to be partnering with the Tailwater team. Tailwater not only shares our vision of investing in midstream and downstream-adjacent assets and services, but also emphasises flexibility and creativity in pursuit of that goal. While the US energy renaissance has been ongoing for several years, we believe the demand pull created from the resurgence in supply is still in the early stages. With over US$150 billion in projects announced in the US alone, the environment is fundamentally strong and supports significant investment in businesses critical to the long-term success of those projects."
Edward Herring, Managing Partner at Tailwater Capital, added: "We believe Copperbeck's extensive industry experience and deep relationships developed within both traditional midstream and downstream-adjacent infrastructure provide a unique opportunity to find value and develop assets in an underserved segment of the broader energy complex. We're particularly excited about the fast start the team has gotten off to in terms of identifying and executing on the formation of the new Saconix joint venture."
Copperbeck also confirmed that it recently closed the purchase of a 62.5% interest in Saconix LLC from MRMC. Saconix combines MRMC's contribution of Martin Product Sales LLC's sulfuric acid business with the addition of a well-capitalised partner in Copperbeck to help drive growth through new equity investment.
Mr Martin said: "Having worked with the MRMC team for over 15 years, it's a privilege to be partnering with them once again through the Saconix joint venture. MRMC's broad expertise, commitment to service and quality people are hard to duplicate. We look forward to continued growth in our relationship with MRMC at the Saconix level and beyond."
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/18102017/copperbeck-energy-partners-receives-equity-commitment/