[Context: On November 13, EIV Capital announced backing Canes Midstream to acquire, construct, own and operate assets in the US. Further details, advisors and related links are below.]
Canes Midstream LLC Secures Equity Commitment From EIV Capital
DALLAS, Texas, Nov. 13, 2019 (GLOBE NEWSWIRE) — Canes Midstream LLC (“Canes”), a growth-oriented energy infrastructure company focused on acquiring and developing oil and gas midstream infrastructure, today announced an equity commitment by EIV Capital (“EIV”), a private equity firm focused on the energy industry, and Canes’ management. The investment will allow Canes to acquire, construct, own and operate midstream assets in the United States.
Canes is based in Dallas, Texas and is led by Scott Brown and Chad Choate. The executive team has a combined 50 years of diverse oil and gas midstream experience covering management, commercial, operations, engineering, marketing, construction and origination for both M&A and greenfield development activity. The executive team has acquired and/or developed greenfield midstream assets including: gas gathering, compression, processing and treating, crude oil and NGL gathering and transmission and water gathering and disposal for both private equity-backed and publicly traded midstream companies. Canes offers a full suite of midstream services to upstream, midstream and downstream customers including producers, end-users, processors, pipeline operators and refiners. Canes works closely with customers to provide tailored service offerings that meet their specific needs and to deliver reliable, safe, easy to understand, on time and best-in-class solutions so they can focus on their core business.
Scott Brown, CEO of Canes, said: “We are excited to partner with EIV as we develop midstream solutions throughout the United States. Chad and I have devoted our combined 50-year careers to the midstream space and strongly believe there will be increasing opportunities to partner with producers and continue to build midstream assets for our customers.”
Greg Davis, Partner at EIV, said: “We are pleased to partner with Canes as it acquires, develops, operates and commercializes oil and gas midstream infrastructure assets. The Canes team brings a robust background that spans numerous basins and commodities, positioning the team well to partner with producers looking for midstream solutions.”
About Canes Midstream LLC
Formed in 2019, Canes Midstream LLC is a full-service midstream company providing a full suite of midstream service solutions customized to meet its customers’ specific requirements. By leveraging its relationships, market knowledge, commercial track record and operations and construction experience Canes provides creative, reliable and safe midstream solutions to its customers.
About EIV Capital, LLC
Founded in 2009, EIV Capital is a Houston-based private equity firm specializing in providing growth equity to the North American energy industry. EIV Capital focuses on midstream and related service businesses with an emphasis on energy infrastructure and businesses involved in the processing, transportation, storage, or conversion of oil, natural gas, renewable fuels and refined products. The firm’s management has extensive experience leading and investing in successful companies across the energy value chain.