FTI Capital Advisors Advises Phoenix Park Gas Processors Limited on the Purchase of Twin Eagle’s Marketing Assets
WASHINGTON, March 4, 2020 — FTI Consulting, Inc. (NYSE: FCN) today announced that its wholly-owned investment banking subsidiary, FTI Capital Advisors, LLC (“FTICA”) has acted as investment banker and financial advisor to Phoenix Park Gas Processors Limited (“Phoenix Park” or the “Company”) in the purchase of Twin Eagle Liquids Marketing LLC’s (“Twin Eagle”) natural gas liquids marketing assets (“Twin Eagle NGLs”).
FTICA worked closely with Phoenix Park to identify opportunities to expand into the U.S. natural gas liquids (“NGL”) market. After evaluating a field of potential acquisition targets, FTICA assisted Phoenix Park in presenting an offer to the parent company of Twin Eagle NGLs. FTICA professionals structured the transaction, facilitated the due diligence process and coordinated the negotiations and closing of the transaction. Twin Eagle NGLs will become part of Phoenix Park Energy Marketing LLC, a new subsidiary of Phoenix Park that will be engaged in the business of marketing, trading and transportation of NGLs via rail in North America.
“We are very excited as a company to be extending our footprint abroad to North America,” said Dominic Rampersad, President of Phoenix Park. “Expanding our access to natural gas will allow us to continue to serve our existing customers and new markets. This acquisition marks the first step in our long-term growth strategy of acquiring NGL assets abroad and establishing Phoenix Park as an international leader in NGLs.”
Commenting on the transaction, Shane Campbell, a Managing Director at FTI Capital Advisors, LLC said, “We are very pleased to support Phoenix Park’s first acquisition and growth objectives. We are excited about the opportunity to see the Company extend its platform to North America with the addition of Twin Eagle NGLs’ business portfolio and human capital.”
Phoenix Park is a subsidiary of The National Gas Company of Trinidad and Tobago Limited and is one of the largest gas processors in Latin America and the Caribbean. The Company’s core business is natural gas processing, NGL aggregation, fractionating and marketing. Phoenix Park provides natural gas and NGL products to its customers in the Caribbean and Central America from its downstream processing facilities in Trinidad. The Company also processes petroleum products that are marketed internationally.
Twin Eagle is a diversified midstream company based in Houston that offers multiple services to producers and end-users, including residential, agricultural, commercial and industrial customers. Twin Eagle NGLs offers its NGL services throughout North America, gathering, transporting and marketing NGLs as close to the wellhead as possible. Twin Eagle NGLs is a leader in transportation, storage and marketing of NGLs, with the ability to transport and market to and from refiners, gas processors, propane wholesalers, proprietary terminals and other merchant users.
The transaction represents the first step in Phoenix Park’s long-term strategy to establish a footprint in North America and gain further access to natural gas liquids to distribute domestically and internationally.
About FTI Capital Advisors, LLC
FTI Capital Advisors is a boutique middle market investment bank which specializes in M&A, capital raising, valuation and opinions, and special situations mandates across targeted industry sectors – including deep credentials in the energy sector, as well as in the telecom, media, real estate and industrial sectors. Backed by the power of FTI Consulting’s worldwide network of professionals, FTICA combines deep industry expertise with investment banking and transaction execution experience to deliver value enhancing outcomes for our clients.
FTICA is registered with FINRA in the United States and engages in securities transactions pursuant to that registration. In non-US securities transactions, FTICA may be required to work with securities dealers registered in other countries. FTI Capital Advisors, LLC (member FINRA/SIPC) is the wholly owned investment banking subsidiary of FTI Consulting, Inc. (NYSE: FCN).
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Source: FTI Consulting, Inc.