PE-Backed Cardinal Midstream to be Acquired by Atlas Pipeline
December 05, 2012
Cardinal Midstream, a private equity-backed midstream energy company, has entered into a definitive agreement to be sold to Atlas Pipeline Partners (NYSE: APL) for $600 million. The deal is expected to close by the end of 2012. Cardinal Midstream provides gathering, transportation, processing and treatment services to natural gas producers. The assets being acquired include three cryogenic processing plants, 66 miles of associated gathering pipelines and 17 gas treatment facilities located in numerous hydrocarbon basins.