Energy Transportation Deals Keep Moving

Kohlberg Kravis Roberts and the National Pension Service of Korea have acquired a 23.44% stake in Colonial Pipeline from Chevron. Colonial is an interstate carrier that owns and operates a 5,519 mile petroleum products pipeline system stretching from the Gulf Coast to the Eastern seaboard. The company is also currently backed by Koch Capital Investments, ConocoPhillips Pipe Line, Shell Pipeline and Industry Funds Management.

57 PE investors have invested in 75 companies in the Energy Transportation industry since the beginning of 2007, according to the PitchBook Platform. Deal activity was abuzz in the industry during 2007 with 31 deals but dropped to only 15 deals for 2008 before recovering with 24 deals in 2009. 2010 YTD has witnessed 15 deals completed so far, the same amount logged by this time last year, putting this year on track to match 2009's final deal count. Almost half of the companies targeted by these deals, 48%, are headquartered in Texas. Oklahoma is the next most popular HQ location, being home to 9 companies, or 12%. Of all the PE investors who backed these companies, the most active include Energy Spectrum Capital (5 deals), Natural Gas Partners (5) and ArcLight Capital Partners (4).