Eversheds Sutherland is pleased to announce that it is representing client Castleton Commodities International LLC (CCI) in its sale of NorTex Midstream Partners (NorTex or the Company), a Houston-based natural gas storage and transportation company, to private equity firm Tailwater Capital (Tailwater).
Founded in 2007, NorTex provides revenue optimisation and asset reliability solutions for utilities and power generation facilities in North Texas through strategically located natural gas storage and transmission. The Company operates the largest portfolio of non-utility gas storage facilities in North Texas. NorTex’s asset base includes 36 Bcf of depleted reservoir working gas capacity, 83 total miles of natural gas transportation pipelines, as well as the Tolar Hub – the largest natural gas hub in North Texas. NorTex’s storage facilities have operated consistently for nearly 60 years, serving as critical infrastructure for the greater Dallas-Fort Worth market.
CCI is a global energy commodity merchant with integrated businesses focused on marketing, merchandising, and trading commodities, and the ownership, operation and development of commodities-related infrastructure and upstream assets.
Partner Ram C. Sunkara led the Eversheds Sutherland team in this transaction, with assistance from Partners M. Hill Jeffries, Meredith O’Leary, Lance J. Phillips, Amish M. Shah, Michael J. Voynich, Counsel Ronnie Dabbasi, Graham R. Green, Kyle E. Wamstad and Associates Katherine E. Dugat, Kyle J. Hayes, Michael M. Petrov, Alyssa N. Walker and Kathryn V. Wymer.
About Eversheds Sutherland
As a global top 10 law practice, Eversheds Sutherland provides legal services to a global client base ranging from small and mid-sized businesses to the largest multinationals, acting for 75 of the Fortune 100, 68 of the FTSE 100 and 113 of the Fortune 200.
With more than 3,000 lawyers, Eversheds Sutherland operates in 68 offices in 32 jurisdictions across Africa, Asia, Europe, the Middle East and the United States. In addition, a network of more than 200 related law firms, including formalised alliances in Latin America, Asia Pacific and Africa, provide support around the globe.
Eversheds Sutherland provides the full range of legal services, including corporate and M&A; dispute resolution and litigation; energy and infrastructure; finance; human capital and labour law; intellectual property; real estate and construction; and tax.
Eversheds Sutherland is a global legal practice and comprises two separate legal entities: Eversheds Sutherland (International) LLP (headquartered in the United Kingdom) and Eversheds Sutherland (US) LLP (headquartered in the United States), and their respective controlled, managed, affiliated and member firms. The use of the name Eversheds Sutherland is for description purposes only and does not imply that the member firms or their controlled, managed or affiliated entities are in a partnership or are part of a global LLP.