ArcLight Commits $100 Million to JP Energy Partners
BOSTON, July 13, 2011 /PRNewswire/ -- An affiliate of ArcLight Capital Partners, LLC ("ArcLight") has made a $100 million equity commitment to JP Energy Partners, LP ("JPE"). JPE is a privately-held, Texas-based master limited partnership formed to initially focus on the acquisition and development of wholesale and retail propane distribution, storage and transportation assets in Texas, New Mexico, Arizona and Oklahoma. In addition, JPE is focused on using its commercial position to acquire and develop physical midstream assets, particularly those relating to the storage, transportation, and processing of natural gas liquids.
On June 27th, ArcLight made an initial investment under the commitment to fund the acquisition of several retail propane companies that complement JPE's existing assets. Following the initial investment, JPE's existing operations represent approximately 27 million gallons of annual propane sales, making JPE one of the largest propane retailers in the United States.
About ArcLight Capital Partners, LLC
ArcLight is one of the world's leading energy investment firms having invested over $8.5 billion of equity since its inception a decade ago. ArcLight has successfully sourced, managed and realized investments through multiple energy industry cycles. The Firm's investment team has extensive energy expertise, investing experience, industry relationships, and specialized asset level value creation capabilities. ArcLight is headquartered in Boston, Massachusetts with offices in New York City, Barcelona and Luxembourg. More information about ArcLight can be found at http://www.arclightcapital.com.
About JP Energy Partners, LP
JP Energy Partners was formed in 2010 to focus on opportunities to acquire and consolidate propane related businesses in the United States. JPE's principal business largely consists of the retail, marketing, sale and distribution of propane to residential, commercial and industrial customers. JPE currently owns retail propane operations under the name Pinnacle Propane in New Mexico, Oklahoma and Texas, as well as 18 community propane systems under the name Alliant Gas LLC throughout the Texas Hill Country. The ownership and management team of JP Energy Partners brings extensive experience and a history of success in the energy business and the real estate development business. More information about JPE and its subsidiaries can be found at http://www.jpenergypartners.com.
SOURCE ArcLight Capital Partners, LLC
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.