Navitas Midstream Partners Holdings recently announced the sale of 100 percent of its interests in Navitas Midstream Partners, to an affiliate of Enterprise Products Partners L.P. for $3.25 billion in an all-cash deal. Navitas is a portfolio company of funds managed by Warburg Pincus.
Founders R. Bruce Northcutt, Bryan Neskora and Jim Wade previously built Copano Energy into a substantial enterprise at scale before its sale to Kinder Morgan.
“We are excited to contribute our unique Midland Basin system to Enterprise, one of the premier midstream operators,” said R. Bruce Northcutt, CEO at Navitas. “We have succeeded in our goal of creating a unique company that provides critical infrastructure to meet the needs of our Midland Basin producers. We would like to thank our customers for trusting Navitas to develop a system that would meet the needs of their rapid volume growth, and we know they will be in good hands with a company the scale of Enterprise.”