Golden Gate Capital Completes Sale of Stonehill Environmental Partners
Golden Gate Capital has completed the sale of Stonehill Environmental Partners, an energy infrastructure company specializing in water recycling and disposal services for energy customers. The company, launched in 2021 through a de-novo investment from Golden Gate Capital and CEO Jay Parkinson, has achieved significant growth, quadrupling earnings organically through new and existing contracts with premier energy counterparties.
This marks the second successful partnership between Golden Gate Capital and Parkinson's team, following their previous venture with Hillstone Environmental Partners, which was sold to NGL Energy Partners LP (NYSE: NGL) for $600 million in 2019. Stonehill has established itself as a leading provider of environmentally friendly water solutions, leveraging its operating assets in the Midland Basin and securing long-term contracts with investment grade E&P companies.
Golden Gate Capital ha completato la vendita di Stonehill Environmental Partners, un'azienda di infrastrutture energetiche specializzata nei servizi di riciclo e smaltimento dell'acqua per i clienti del settore energetico. Fondata nel 2021 attraverso un investimento de-novo da parte di Golden Gate Capital e del CEO Jay Parkinson, l'azienda ha registrato una crescita significativa, quadruplicando i guadagni in modo organico grazie a nuovi e preesistenti contratti con importanti controparti energetiche.
Questo segna la seconda partnership di successo tra Golden Gate Capital e il team di Parkinson, dopo la loro precedente avventura con Hillstone Environmental Partners, venduta a NGL Energy Partners LP (NYSE: NGL) per 600 milioni di dollari nel 2019. Stonehill si è affermata come fornitore leader di soluzioni idriche ecologiche, sfruttando i suoi asset operativi nel Midland Basin e assicurandosi contratti a lungo termine con aziende E&P di grado di investimento.
Golden Gate Capital ha completado la venta de Stonehill Environmental Partners, una empresa de infraestructura energética especializada en servicios de reciclaje y eliminación de agua para clientes del sector energético. La empresa, lanzada en 2021 a través de una inversión de novo de Golden Gate Capital y el CEO Jay Parkinson, ha logrado un crecimiento significativo, cuadruplicando las ganancias de manera orgánica a través de nuevos y existentes contratos con importantes contrapartes energéticas.
Esto marca la segunda asociación exitosa entre Golden Gate Capital y el equipo de Parkinson, después de su aventura anterior con Hillstone Environmental Partners, que fue vendida a NGL Energy Partners LP (NYSE: NGL) por 600 millones de dólares en 2019. Stonehill se ha establecido como un proveedor líder de soluciones de agua respetuosas con el medio ambiente, aprovechando sus activos operativos en el Midland Basin y asegurando contratos a largo plazo con empresas de E&P de grado de inversión.
골든 게이트 캐피탈은 에너지 고객을 위한 물 재활용 및 폐기 서비스에 특화된 에너지 인프라 회사인 스톤힐 환경 파트너스의 매각을 완료했습니다. 2021년 골든 게이트 캐피탈과 CEO 제이 파킨슨의 신규 투자로 설립된 이 회사는 주요 에너지 거래처와의 새로운 계약 및 기존 계약을 통해 유기적으로 수익을 4배로 늘리며 상당한 성장을 이뤘습니다.
이는 골든 게이트 캐피탈과 파킨슨 팀 간의 두 번째 성공적인 파트너십으로, 2019년 NGL 에너지 파트너스 LP (NYSE: NGL)에 6억 달러에 매각된 힐스톤 환경 파트너스와의 이전 벤처에 이어지는 것입니다. 스톤힐은 미드랜드 분지에서 운영 자산을 활용하고 투자 등급 E&P 회사와 장기 계약을 확보하여 환경 친화적인 물 솔루션의 선도적인 공급업체로 자리 잡았습니다.
Golden Gate Capital a finalisé la vente de Stonehill Environmental Partners, une entreprise d'infrastructure énergétique spécialisée dans le recyclage et l'élimination de l'eau pour les clients du secteur énergétique. Fondée en 2021 grâce à un investissement de novo de Golden Gate Capital et du PDG Jay Parkinson, l'entreprise a connu une croissance significative, quadruplant ses bénéfices de manière organique grâce à de nouveaux et anciens contrats avec des contreparties énergétiques de premier plan.
Ceci marque le deuxième partenariat réussi entre Golden Gate Capital et l'équipe de Parkinson, après leur précédente aventure avec Hillstone Environmental Partners, qui a été vendue à NGL Energy Partners LP (NYSE: NGL) pour 600 millions de dollars en 2019. Stonehill s'est imposée comme un fournisseur leader de solutions d'eau respectueuses de l'environnement, tirant parti de ses actifs opérationnels dans le Midland Basin et sécurisant des contrats à long terme avec des entreprises E&P de qualité investissement.
Golden Gate Capital hat den Verkauf von Stonehill Environmental Partners abgeschlossen, einem Unternehmen für Energieinfrastruktur, das auf Wasserrecycling und Entsorgungsdienste für Energieverbraucher spezialisiert ist. Das 2021 durch eine de-novo-Investition von Golden Gate Capital und CEO Jay Parkinson gegründete Unternehmen hat ein signifikantes Wachstum erzielt und die Einnahmen organisch vervierfacht, dank neuer und bestehender Verträge mit führenden Energiepartnern.
Dies markiert die zweite erfolgreiche Partnerschaft zwischen Golden Gate Capital und dem Team von Parkinson, nach ihrem vorherigen Unternehmen mit Hillstone Environmental Partners, das 2019 für 600 Millionen Dollar an NGL Energy Partners LP (NYSE: NGL) verkauft wurde. Stonehill hat sich als führender Anbieter von umweltfreundlichen Wasserlösungen etabliert, indem es seine Betriebsanlagen im Midland Basin nutzt und langfristige Verträge mit Unternehmen der E&P-Branche mit Investment-Grade sichert.
- Quadrupled earnings organically since 2021
- Secured long-term contracts with investment grade E&P companies
- Established strong operating assets network in Midland Basin
- None.
Launched in 2021 with a de-novo investment from Golden Gate Capital in partnership with Stonehill CEO Jay Parkinson, Stonehill is an environmental services business that enables energy customers to recycle and dispose of water safely, reliably, economically, and with minimal carbon emissions. Since Golden Gate Capital’s investment, the business has quadrupled earnings organically through growth of both new and existing contracts with premier energy counterparties. Golden Gate Capital, Mr. Parkinson, and the Stonehill team, including Tony Gutta, Vincent Lopez, Chris Stanton, and Paul Donavan, previously partnered together to establish Hillstone Environmental Partners, a provider of comprehensive water infrastructure solutions, which Golden Gate Capital sold to NGL Energy Partners LP (NYSE: NGL) for
“We are pleased to have completed another successful partnership with Jay and his talented team,” said Javier Puig, a Managing Director at Golden Gate Capital. “Over the past four years, Stonehill has firmly established itself as an industry-leading provider of environmentally friendly, efficient water solutions. In addition, Stonehill achieved strong financial results and impressive organic growth by leveraging a premier network of operating assets in the Midland Basin and executing long-term contracts with investment grade E&P companies.”
“Golden Gate Capital has been an invaluable partner and has made significant investments to help drive our organic growth,” said Mr. Parkinson. “I am thankful for Golden Gate Capital’s support and our outstanding relationship over the years, and am proud of the Stonehill team’s incredible work building the Company into what it is today.”
Houlihan Lokey and Deutsche Bank acted as financial advisors to Stonehill and Jones Day served as legal counsel.
About Golden Gate Capital
Golden Gate Capital is a
About Stonehill
Stonehill Environmental Partners is an energy infrastructure company focused on designing, building, owning and operating fixed water pipeline, recycling and disposal assets. Stonehill also focuses on monetizing existing E&P owned water infrastructure assets so E&P companies can re-deploy capital to core drilling and completion activities. For more information, visit www.sh-ep.eco.
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Golden Gate Capital
FGS Global
GoldenGate@FGSGlobal.com
Source: Golden Gate Capital
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