Northleaf Capital Partners acquires CSV Midstream Solutions Corp.

Date Closed

August 01, 2019

Lead Office

Calgary

On June 28, 2019, Northleaf Capital Partners ("Northleaf") announced that it has entered into a strategic partnership with CSV Midstream Solutions Corp. ("CSV"), through which Northleaf will acquire 100% of CSV, including CSV's Resthaven gas processing facility and Pipestone South compressor station. The deal comes alongside CSV's acquisition of the Karr 6-18 natural gas facility from Paramount Resources, a liquids-focused energy firm based in Alberta, in a C$470 million deal. CSV will pay C$330 million in cash plus C$140 million in capital improvements. The acquisition comes as part of Northleaf’s strategy for seeking opportunities of stable, long-term returns, which is offered by the quality of the underlying resources of CSV Midstream’s assets.

Northleaf is Canada's largest independent global private markets fund manager with more than US$12 billion in venture capital, private equity, private credit and infrastructure commitments under management.

CSV is a Calgary-based company that  offers complete midstream solutions and innovative business models for natural gas and natural gas liquids processing. 

McCarthy Tétrault LLP is advising National Bank of Canada, as administrative agent, and a syndicate of lenders to a subsidiary of Northleaf, with a team led by Joe Palin that included Kerri Howard, William Lee (Business) and David Meier (Financial Services).

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