Renegade Infrastructure LLC has secured inaugural fairness capital backing from its administration and Power Spectrum Companions VIII LP. The corporate stated in a media launch that the fairness backing comes after the divesture of Pinnacle Midstream II LLC’s Midland Basin midstream platform in July 2024 and Pinnacle Midstream I LLC’s western Delaware Basin midstream platform in November 2018.
The Pinnacle Midstream acquisition was co-led by Renegade’s founder and CEO, Drew Ward, the corporate stated in a media launch. Ward is an business veteran with a 17-year observe report of robust worth creation throughout a number of vitality firms, together with Crosstex Power, Kinder Morgan, Twin Eagle Useful resource Administration, and the Pinnacle Midstream franchises, Pinnacle stated.
“I’m excited to companion with Power Spectrum for the second consecutive time”, Ward stated. “Our management group has a powerful observe report of creating secure, well timed, and cost-effective midstream options in premier oil and fuel areas throughout the U.S., serving all commodities. With our deep experience and long-standing business relationships, we imagine in our potential to construct a profitable midstream firm that delivers distinctive service to our clients and drives worth for all our stakeholders”.
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Renegade additionally stated its govt group is strengthened by the addition of CFO Jason Tanous as a Associate. Tanous, a veteran of Pinnacle Midstream I & II LLC’s administration group, brings 18 years of business and govt monetary administration expertise, most not too long ago serving as CFO at Pinnacle I & II.
His background additionally consists of co-founding PSI Midstream, a non-public equity-backed midstream startup, the place he held vital monetary tasks.
Moreover, J. Greg Sargent, Founder and CEO of the Pinnacle Midstream franchises and Transtex Gasoline Treating, will function Senior Advisor to Renegade’s Board of Managers.
Mike Mayon, Power Spectrum Capital’s Managing Associate, stated, “The group’s creativity and solutions-oriented strategy are differentiators, and we imagine Renegade can proceed to construct on the robust observe report of its administration group”.
To contact the creator, e-mail andreson.n.paul@gmail.com
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