EPIC Announces the Sale of EPIC Olefins
EPIC Midstream Holdings has completed the sale of EPIC Olefins to Howard Energy Partners
HOUSTON–(BUSINESS WIRE)–EPIC Midstream Holdings, LP (“EPIC”) announced today that it has completed the sale of EPIC Olefins, LP and EPIC Olefins, GP LLC (together “EPIC Olefins”) to Howard Energy Partners on December 23rd, 2024.
“The transaction completes the successful development, operation and divestiture of critical midstream infrastructure along the Texas Gulf Coast. It showcases the EPIC team’s ability to build long-term partnerships with premier energy companies. We look forward to Howard Energy Partners further optimizing and developing EPIC Olefins,” said Brian Freed, Chief Executive Officer of EPIC.
EPIC Olefins is a 120 mile long, 12-inch diameter bi-directional ethylene pipeline connecting Gulf Coast Growth Ventures’ (“GCGV”) world-class ethane cracker in Gregory, Texas to ethylene storage in Markham, Texas. The ethylene pipeline has an initial design capacity of 7.8 million pounds per day with the ability to increase capacity to meet growing ethylene demand in south Texas.
For this transaction, TPH&Co., the energy business of Perella Weinberg, served as the financial advisor and Kirkland & Ellis LLP served as legal advisor to EPIC.
About EPIC Midstream Holdings, LP
EPIC Midstream Holdings, LP (“EPIC”) was formed in 2017 to build and operate midstream infrastructure from the Permian Basin and Eagle Ford play in Texas and New Mexico to petrochemical facilities, refineries and export docks along the Texas Gulf Coast. EPIC owns an interest and operates EPIC Crude, EPIC Y-Grade and Midstream Integrity Services. EPIC is a portfolio company of funds managed by the Private Equity Group of Ares Management. For more information, visit www.epicmid.com.
Contacts
EPIC Midstream Holdings, LP
Mike Garberding
Chief Financial Officer
(214) 766-4929
mike.garberding@epicmid.com
