Simpson Thacher Represents J.P. Morgan in Financing TPG's $500 Million Investment in Valerus
11.05.09
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Simpson Thacher is representing J.P. Morgan in connection with the $500 million investment and acquisition of a majority stake in Valerus Compression Services LP (“Valerus”) by TPG Capital. TPG Capital intends to finance the acquisition with a combination of equity and debt, and has received a commitment from J.P. Morgan to complete an asset-based (ABL) revolving credit facility for Valerus. The acquisition and related financing is expected to close by December 31, 2009. Valerus is a privately held provider of natural gas handling services, including natural gas compression, processing and treating, based in Texas.
The Simpson Thacher team advising J.P. Morgan in connection with this transaction includes Alan Brenner and Jose Grajales (Credit), Gary Sellers, Rohith Parasuraman and Kate Renaud (Securities), Tim Mulvihill (Environmental) and Amie Broder (Tax).