Weil Advised Antin Infrastructure Partners on the Sale of Kellas Midstream to BlackRock and GIC

Weil advised Antin Infrastructure Partners on the sale of Kellas Midstream to a consortium of BlackRock, a leading institutional investor, and GIC, Singapore’s sovereign wealth fund. The transaction closed on January 30, 2020.

Kellas Midstream transports gas from the Central and Southern North Sea to the U.K., where it is then processed on behalf of major North Sea gas producers. Antin initially acquired a 63% stake in CATS from BG (now Shell) in 2014, later acquiring a 36% stake from BP in 2015. Having fully carved out the business and established a standalone entity, Kellas Midstream grew substantially both via organic growth with connection to new major gas fields such as Stella, Caley & Shaw, Culzean and Vorlich, and by expansion in the U.K. Southern North Sea with the ETS acquisition and the HGS development. Weil also acted on the refinancing of Kellas, the acquisition of ETS and the financing of HGS.

I have acted for Antin in respect of Kellas since the initial acquisition of a stake in CATS from BG in 2014,” commented James MacArthur, lead partner on the transaction. “It is fantastic to have been part of the growth of this business over the last five years and now to have been involved in Antin’s exit as Kellas embarks on the next stage of its growth plan. Antin’s involvement in the North Sea has heralded an unprecedented period of private equity investment in the region.

Corporate partner James MacArthur led the team and worked alongside Private Equity associates Thomas Fisher, Lennard Ong, Richard Wright and Bonian Wu. The Weil team also included Banking & Finance partner Paul Hibbert and associate Emma Serginson; Antitrust associate Neil Rigby; Tax partner Oliver Walker and associate Ellie Marques.