An affiliate of Enterprise Products Partners has acquired Navitas Midstream Partners (Navotas) for USD3.25 billion in an all-cash deal.
Navitas is a portfolio company of funds managed by Warburg Pincus LLC, a leading global growth investor.
Founders R Bruce Northcutt, Bryan Neskora and Jim Wade previously built Copano Energy, LLC into a substantial enterprise at scale before its sale to Kinder Morgan.
Jefferies LLC served as financial advisor to Navitas in connection with the transaction, and Kirkland & Ellis served as legal advisor.
This transaction is expected to be completed in the first quarter of 2022, subject to customary regulatory approvals.
