Global Infrastructure Partners Acquires Medallion Midstream

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Global Infrastructure Partners has closed on the previously announced acquisition of Medallion Gathering & Processing, LLC.  The company purchased Medallion from an affiliate of The Energy & Minerals Group, 51% owner, and an affiliate of Laredo Petroleum, Inc., 49% owner, for a cash purchase price of $1.825 billion plus additional cash consideration that is linked to Global Infrastructure Partners’ realized profits at exit.

All proceeds from the sale of Medallion, subject to customary post-closing adjustments, will be distributed 51% to The Energy & Minerals Group and 49% to Laredo Petroleum.

Under the terms of the acquisition, Medallion will retain its name and operate as a Global Infrastructure Partners’ portfolio company headquartered in Irving, Texas. Medallion’s leadership team will remain in their current roles and are investing alongside Global Infrastructure Partners in this transaction. Medallion Midstream 2, LLC, which includes crude oil and natural gas assets in the Delaware Basin, will continue to operate as a portfolio company of The Energy & Minerals Group.

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