Camelback Midstream Announces Commitment From ArcLight
SCOTTSDALE, Ariz., April 20, 2020 /PRNewswire/ -- Camelback Midstream Holdings announced today it has secured a capital commitment of $400 million from an ArcLight Capital Partners managed fund and the Camelback Midstream management team. Camelback Midstream is focused on the acquisition and organic development of midstream infrastructure, including gathering, transportation, storage and marketing. The Camelback Midstream team has deep experience in providing safe and reliable solutions that offer value-added connectivity and optionality to customers.
Camelback Midstream is led by its CEO, Brent McCune, and its management team comprised of Gary Wright, Todd Stanley, Tiffany Smith, Leonard Bloom and Rebecca Peterson, all of whom have a successful history of working together in the energy infrastructure industry. Prior to forming Camelback Midstream, the team worked together at Western Refining, and then continued with Andeavor following the Western-Andeavor merger. The Camelback Midstream management team has more than 110 years of combined energy industry experience, including the execution of $5 billion in M&A, $750 million in organic logistics projects and over $600 million of capital investments in large JV projects.
"We look forward to building Camelback Midstream with a focus on targeted regions where we see opportunity and have strong relationships and a history of success," said Camelback Midstream CEO Brent McCune. "We work closely with our customers to develop creative, practical solutions that meet their logistical and marketing needs. We are excited to have an experienced infrastructure investor like ArcLight as our partner as we evaluate potential acquisition and investment opportunities in this rapidly evolving midstream landscape."
"We are extremely pleased to be partnering with the Camelback Midstream team, particularly in today's market," said Dan Revers, ArcLight's founder and managing partner. "The management team includes recognized leaders in midstream infrastructure with a deep relationship network and outstanding reputations. We look forward to supporting the Camelback Midstream team as they pursue opportunities in what we believe will be a compelling acquisition environment for newly-formed, well-capitalized midstream companies."
About Camelback Midstream Holdings, LLC
Camelback Midstream is an independent energy infrastructure logistics company focused on the acquisition and organic development of midstream infrastructure and services necessary to transport, gather, store and market hydrocarbons from the wellhead to market. Camelback Midstream is backed by a $400 million capital commitment from ArcLight and the Camelback Midstream management team. The company is based in Scottsdale with an additional office in Houston. For more information please visit www.cbmid.com.
About ArcLight Capital Partners, LLC
ArcLight is one of the leading energy infrastructure firms. Founded in 2001, the firm helped pioneer an asset-based approach to investing in the energy sector. ArcLight has invested over $22 billion in over 100 transactions since inception. Based in Boston, the firm's investment team employs a hands-on value creation strategy that utilizes its in-house technical, operational, and commercial specialists as well as the firm's 1,500-person asset management affiliate. More information about ArcLight, and a complete list of ArcLight's portfolio companies, can be found at www.arclightcapital.com.
SOURCE ArcLight Capital Partners