U.S. TPG to acquire stake in Goodnight Midstream for about $930 mln

U.S. private equity platform TPG Capital, a subsidiary of asset firm TPG, will purchase a majority stake in Goodnight Midstream, an oilfield water management infrastructure provider.

The stake, which will be acquired for approximately $930 million, is being bought from Tailwater Capital and other private investors.

Under the terms of the deal, expected to close in the second quarter, subject to customary closing conditions, TPG Capital and existing shareholders will commit an additional equity capital to support the continued growth of Goodnight.

With additional growth equity and proceeds from committed credit financing, Goodnight Midstream will have access to more than $300 million of capital to fund continued expansion.