TPG Adds Gas Services Co. Valerus For $500M

Law360, New York (November 3, 2009, 3:06 PM EST) -- Private equity firm TPG Capital has purchased a majority stake in natural gas services company Valerus Compression Services LLP for $500 million.

The deal, announced Monday, will add Houston-based Valerus' natural gas handling services — including natural gas compression, processing and treating — under TPG's expanding umbrella. TPG Capital is a unit of Texas Pacific Group.

It will also serve to help privately held Valerus restructure its existing debt and move forward with expansion plans. TPG's investment will go into Valerus' existing debt and equity structure,...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.