Industry Veteran Launches Ironwood III With Substantial Equity Commitment From Kayne Anderson Energy Infrastructure Fund
Ironwood III Also Acquires Strategic Crude Oil Gathering System Located in the Eagle Ford Shale, Positioning for Long-Term Growth
SAN ANTONIO–(BUSINESS WIRE)–Ironwood Midstream Energy Partners III, LLC (Ironwood III) today announced it has secured a substantial equity commitment from Kayne Anderson Energy Infrastructure Fund, Inc. (KYN). Led by industry veteran Mike Williams, Ironwood III has a long-term operating strategy, focused on the acquisition, development, and operation of top-tier midstream assets in the most economic and desirable oil and gas producing regions in the United States.
In conjunction with the equity commitment, Ironwood III has acquired a crude oil gathering system strategically located across Atascosa, Frio, La Salle, and McMullen counties in the Eagle Ford Shale. The new asset footprint includes over 50 miles of crude oil gathering pipelines with long-term, fee-based agreements for almost 50,000 dedicated acres. The system also includes two storage terminals with a combined capacity of over 18,000 barrels.
Ironwood Leadership Team
Ironwood III’s leadership team is comprised of seasoned industry veterans with a wealth of experience in developing, managing, and operating midstream businesses across their entire lifecycle. The team includes Chief Executive Officer Mike Williams, President and Chief Commercial Officer Justin Johnson, Chief Financial Officer Eric Paulson, and Chief Operating Officer Geron Hendrickson-Javois. Each of these leaders have played integral roles in previous iterations of Ironwood, contributing to the company’s continued evolution and success.
CEO & President Perspective
“With our deep operational expertise, strong industry relationships, and the support of a strong financial partner like KYN, we are uniquely positioned for sustainable, long-term growth,” said Mike Williams, CEO of Ironwood III.
Justin Johnson, President of Ironwood III added, “We are excited about this strategic acquisition in the Eagle Ford, which positions Ironwood III in a region where we have extensive knowledge, experience, and a proven track record of success.”
KYN Perspective
“We are excited to partner with the Ironwood III team and work alongside an industry veteran like Mike,” said Jim Baker, President and CEO of KYN. “This team has earned a strong reputation in the energy industry, and KYN, with its size and long-term capital base, is well positioned to help the Ironwood team execute its strategy” concluded Mr. Baker.
Ron Logan, Executive Vice President of KYN added, “We share a similar vision with the Ironwood team and look forward to partnering with them to create a sizable midstream platform. This is a highly talented group of industry veterans with a track record of successfully developing midstream infrastructure projects.”
Advisors
Ironwood III was advised by Haynes & Boone. Winston & Strawn acted as legal counsel to KYN.
About Ironwood Midstream III:
Headquartered in San Antonio, Ironwood III is an independent energy company specializing in the development, acquisition, and management of oil and natural gas midstream infrastructure across North America. Led by a team of experienced industry professionals, the company is backed by Kayne Anderson Energy Infrastructure Fund. For more information, visit www.ironwoodmidstream.com.
About KYN
Kayne Anderson Energy Infrastructure Fund, Inc. (KYN) is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940, as amended, whose common stock is traded on the NYSE under the ticker symbol “KYN.” KYN’s investment objective is to provide a high after-tax total return with an emphasis on making cash distributions to stockholders. KYN intends to achieve this objective by investing at least 80% of its total assets in securities of Energy Infrastructure Companies. KA Fund Advisors, LLC is a subsidiary of Kayne Anderson Capital Advisors, L.P., and serves as KYN’s investment adviser. For more information, visit www.kaynefunds.com/kyn.
About Kayne Anderson
Kayne Anderson Capital Advisors, L.P. (Kayne Anderson) is a leading alternative investment management firm focused on real estate, credit, infrastructure and energy. With a team defined by an entrepreneurial and resilient culture, Kayne Anderson’s investment philosophy is to pursue cash flow-oriented niche strategies where knowledge and sourcing advantages enable us to deliver above average, risk-adjusted investment returns. Kayne Anderson manages over $36 billion in assets (as of December 31, 2024) for institutional investors, family offices, high net worth, and retail clients and employs over 350 professionals in five core offices across the United States. For more information, visit www.kayneanderson.com.
Contacts
Ironwood III Media Contact:
Meredith Hargrove Howard
Redbird Communications Group
