An affiliate of Alinda Capital Partners, an independent private investment firm specialising in infrastructure investments, has acquired all of the equity interests of NorTex Gas Storage Company, a wholly-owned subsidiary of Falcon Gas Storage Company.
The transaction value was USD505m, including the repayment of all third party indebtedness.
Falcon was acquired by Arcapita Bank and its affiliates in July 2005.
NorTex owns and operates two natural gas storage facilities in North Texas totalling 35 billion cubic feet of capacity. The NorTex facilities serve the rapidly growing demand market of the Dallas-Fort Worth metroplex, as well as natural gas production in the Barnett Shale.
“The NorTex facilities are strategically located between the Barnett Shale and the important Dallas/Fort Worth market. Storage facilities such as NorTex are essential infrastructure components in the US energy market where gas will play a key role for the foreseeable future,” says Chris Beale, managing partner of Alinda.
