I Squared Capital, alongside MPLX and Enbridge, has agreed to acquire a controlling interest in the Matterhorn Express Pipeline from Ridgemont Equity Partners and Devon Energy Corp, with plans to finalize the transaction by the second quarter of 2025.

Target Information

I Squared Capital has entered into a definitive agreement to acquire equity interests in the Matterhorn Express Pipeline, a strategic infrastructure asset. This acquisition involves notable stakeholders such as MPLX LP and Enbridge Inc., as well as current owners Ridgemont Equity Partners and Devon Energy Corp. Upon closing of the transaction, the ownership structure will be divided, with WhiteWater holding 65%, while MPLX and Enbridge will each retain a 10% stake. WhiteWater, which will continue to manage the operations of the pipeline, will receive equity backing from both FIC and I Squared.

Industry Overview

The Matterhorn Express Pipeline operates within the North American energy infrastructure sector, a robust and vital domain characterized by an increasing demand for efficient transportation of natural gas and other energy commodities. The U.S. pipeline industry has been experiencing substantial growth, driven by rising production levels in natural gas and renewables. This growth signifies the necessity for reliable transportation solutions to meet both domestic and export needs.

In recent years, the country has invested heavily in expanding its midstream capabilities, particularly in regions like the Permian Basin and the Haynesville Shale. With these developments, companies are focused on enhancing their op