“Winstead, T&K aid on Mettle’s $100M funding from Pearl, NGP”
Newly formed Mettle Midstream Partners said March 5 it raised $100 million in funding from Pearl Energy Investments and Natural Gas Partners, a unit of NGP.
Mike Freeman, a partner at Winstead in Dallas, advised Mettle while Holt Foster, a partner at Thompson & Knight in Dallas, assisted Pearl and NGP. Mettle aims to develop solutions that meet the growing demand for midstream infrastructure across North America. Those services would include natural gas gathering, processing, compression and treating; crude oil and condensate gathering and stabilization; produced-water gathering and disposal; and product marketing.
CEO Matthew Innamorati was previously a founding partner, CFO and head of corporate development at Tailwater Capital-backed Align Midstream Partners, which was sold to Enable Midstream last year for $300 million. President and chief commercial officer Drew Bredthauer previously spent 11 years at EnLink Midstream leading operations in various basins across the U.S.
Bill Quinn leads Pearl, which has $1.1 billion under management. Tony Weber is managing partner at NGP, which has attracted $17 billion in equity commitments.