Ridgemont Equity Partners Acquires Interest in M3 Midstream LLC
August 5, 2010
Ridgemont Equity Partners (“Ridgemont”), a middle market private equity firm, today announced the closing of a growth capital investment in M3 Midstream LLC (“Momentum”), an independent midstream energy company that provides oil and gas producers with flexible, responsive and reliable midstream services. This transaction represents Ridgemont’s third financial backing of Momentum’s management team. Financial terms of the transaction were not disclosed.
Based in Houston, Texas, Momentum’s focus is principally on the development of large scale greenfield gathering and processing projects. Since 2005, the Momentum management team has developed greenfield projects in the Barnett Shale, the Piceance Basin, the Haynesville Shale and the Marcellus Shale and acquired gathering systems in Wyoming and East Texas.
Ridgemont initially financially backed Momentum’s management team in April of 2006 and Momentum sold its interests to DCP Midstream less than 18 months later. In mid-2007, Ridgemont backed Momentum’s management team for the second time in M2 Midstream LLC, which was sold to Enterprise Products Partners in April of 2010.
About M3 Midstream LLC
M4 Midstream is an independent midstream energy company that develops and operates significant greenfield oil and gas infrastructure for its producer customers.
About Ridgemont Equity Partners
Ridgemont Equity Partners is a Charlotte-based middle market buyout and growth equity investor. Since 1993, the principals of Ridgemont have invested over $5 billion. The firm focuses on equity investments up to $250 million and utilizes a proven, industry-focused investment approach and repeatable value creation strategies. Ridgemont’s most recent flagship fund, REP III, was formed in 2018 and has $1.65B of committed capital.