“SA-based private equity firm backs new midstream company with $400M”
Three former Sunoco Logistics LP executives have launched a new midstream company backed with $400 million in private equity from San Antonio-based EnCap Flatrock Midstream.
…Lotus’ founders “understand that midstream success begins with upstream success and have a long-term plan that is focused on creating value for their customers,” EnCap Flatrock Midstream Managing Partner Greg King said in a statement. “We look forward to supporting the company as it pursues its strategy.”
Lotus Midstream was advised by former Sunoco Logistics General Counsel Kathleen Shea-Ballay. Matthew Falcone with Vinson & Elkins LLP’s Houston office also provided legal counsel to Lotus Midstream. EnCap Flatrock Midstream was advised by Thompson & Knight LLP, with partner Sarah McLean leading that team from the firm’s Houston office.