A fund managed by Basalt Infrastructure Partners II has acquired Houston-based Third Coast Midstream’s natural gas transmission business for an undisclosed amount. Following the transaction, the business will be rebranded as Black Bear Transmission.
The acquisition represents Basalt’s ninth investment in its second flagship fund.
“This investment represents a rare opportunity to invest in a portfolio of demand-driven, regulated ‘last-mile’ natural gas pipelines serving utilities and other key end-user customers in the Southeast United States,” said David Greenblatt, partner of Basalt Infrastructure Partners, the exclusive investment adviser to the Basalt funds. “The business is strategically positioned to capture continued industrial growth in the region.”
Black Bear Transmission comprises seven regulated natural gas pipelines with a total capacity of more than 1,600 million dekatherms per day, spanning 550 miles. The pipelines are connected to e
