Partners Group and OPTrust buy 50% of Superior Pipeline Company

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Swiss multi-asset manager Partners Group and a Canadian pension fund have partnered to buy a 50% stake in a US energy infrastructure company.

Partners Group, acting on behalf of its clients, said it has joined forces with OPTrust to buy the joint stake in Superior Pipeline Company from Unit Corporation. The deal values Superior at $600m.

Listed US energy firm Unit Corporation will continue to hold the remaining stake.

Founded in 1996 and based in Tulsa, Oklahoma, Superior currently owns and operates three natural gas treatment plants, 13 processing plants, 22 active gathering systems, and around 1,455 miles of pipeline across the US.

Following the investment, Partners Group and OPTrust, together with Unit, will work closely with Superior’s management team, led by founder and president Bob Parks, to grow its existing gathering systems and processing plants organically and to identify attractive acquisition targets to expand the platform.

Todd Bright, a partner and head of private infrastructure of Partners Group in the Americas, said: “We see compelling relative value in the US midstream segment, which is benefiting from the ongoing shale revolution. 

“The US has become a net exporter of natural gas for the first time in 60 years, and there is a fundamental need for infrastructure that facilitates the delivery of that gas to end users. Superior is a proven provider of that infrastructure.”

Gavin Ingram, the global head of infrastructure at OPTrust, said: “Superior’s strong management team, diversified asset base and attractive growth prospects make it an exciting investment opportunity.

“Superior is an excellent strategic fit within our existing portfolio of midstream investments, and we look forward to capitalizing on the growth opportunities ahead of us.”


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