M&A · Energy · Drilling Oil & Gas Wells
Crestwood Equity Partners LP to acquire Oasis Midstream Partners LP
Announced Oct 26, 2021 · Closed Feb 1, 2022
Deal value$1.80BEV $1.80B
Premium8.7%To unaffected price
EV / Adj. EBITDA8.1x4.9x EV / Revenue
ConsiderationAll cash
Transaction
- Acquirer
- Crestwood Equity Partners LP (CEQP)
- Target
- Oasis Midstream Partners LP
- Buyer type
- Strategic
- Offer price per share
- —
- Enterprise value
- $1.80B
- Status
- Closed Feb 1, 2022
Deal protections
- Break fee (target pays)
- $40.0M · 2.2%
- Reverse fee (buyer pays)
- —
- Go-shop
- —
- Financing
- —
Advisors
- To the acquirer
- JPMorgan, Intrepid Partners
- To the target
- Morgan Stanley, Tudor, Pickering, Holt
Sector context · Energy
- Comparable deals
- 20 in the prior 24 months
- Premium
- 8.7% vs. 32.3% sector median
- EV / Adj. EBITDA
- 8.1x vs. 13.6x sector median
- Break fee
- 2.2% vs. 2.5% sector median
Timeline
- AnnouncedOct 26, 2021
- Proxy filedDec 30, 2021
- Definitive proxyDec 30, 2021
- Shareholder voteJan 29, 2022
- ClosedFeb 1, 2022