Tailwater Capital Acquires Majority Stake in Central Midstream to Drive Gulf Coast, Utica Expansion

Tailwater Capital has acquired a majority stake in Central Midstream Partners, expanding its presence in natural gas liquids transportation and storage across the Gulf Coast and Utica regions.

(P&GJ) — Tailwater Capital LLC has acquired a majority interest in Central Midstream Partners, LLC, a liquids transportation, storage, and terminal operator with assets across the Gulf Coast and Utica region, the Dallas-based private equity firm announced Thursday.

The deal strengthens Tailwater’s portfolio of natural gas demand-pull infrastructure and positions Central Midstream for accelerated growth, backed by fresh capital from Tailwater Fund V. Financial terms were not disclosed.

“Central Midstream represents an expansion of Tailwater's investments in natural gas demand-pull infrastructure,” said Drew Winston, Managing Director at Tailwater Capital. “The Jordan family has built a remarkable business, and we are excited to support George and his team on the next phase of growth.”

Founded more than 50 years ago, Central Midstream operates a network of over 100 miles of pipeline, 350,000 barrels of storage capacity, and a multi-modal terminal in Ohio connecting Utica condensate production to waterborne and rail markets.

“For more than 50 years, our family has focused on safely and reliably serving customers across the Gulf Coast and Utica regions,” said George Jordan, Central Midstream CEO. “Partnering with Tailwater marks an important milestone for our business. Their deep sector expertise and commitment to long-term value creation will allow us to accelerate growth opportunities at scale.”

Jordan will continue to lead the company as CEO following the transaction. Legal counsel for the deal included Gibson, Dunn & Crutcher LLP for Central Midstream and Troutman Pepper Locke LLP for Tailwater.