© 2014 The Texas Lawbook.
By Natalie Posgate – (August 5) – Houston-based Zenith Energy has secured a line-of-equity investment of up to $600 million from the global private equity firm, Warburg Pincus.
The investment will allow Zenith, an international liquids and bulk terminaling company, to pursue opportunities to buy, build and operate terminals primarily in Latin America, Europe, and Africa, which include the storage and logistics for crude oil, refined products and petrochemicals.
Houston Locke Lord partners Ken Simon, Jaremi Chilton, Scott Davidson, Mike Peters and associate Eric Larson represent Zenith in the deal.
Houston corporate partner Adam Larson of V&E represents Warburg Pincus, and received assistance from corporate associates Adam Lyons and Wright Wommack, as well as Dallas partner David Peck for tax matters of the deal.
Locke Lord and V&E were across the table earlier this year for another Warburg Pincus investment. In June, V&E advised the private equity firm when it agreed to invest up to $500 million in Locke Lord’s client, The Woodlands-based pipeline company, Navitas Midstream Partners.
V&E also announced today that it advised Irving-based Pioneer Natural Resources on the sale of its Barnett Shale assets to an undisclosed buyer for $155 million.
In addition to building terminals, Zenith will also identify opportunities in logistics and distribution assets that support terminals, such as pipelines, truck racks and barges.
For more than two decades, Warburg Pincus has invested or committed more than $9.5 billion across more than 50 energy investments around the world.
© 2014 The Texas Lawbook. Content of The Texas Lawbook is controlled and protected by specific licensing agreements with our subscribers and under federal copyright laws. Any distribution of this content without the consent of The Texas Lawbook is prohibited.
If you see any inaccuracy in any article in The Texas Lawbook, please contact us. Our goal is content that is 100% true and accurate. Thank you.