Trilantic Capital Partners Sells Majority Stake in TLP Energy
NEW YORK, Dec. 17, 2012
NEW YORK, Dec. 17, 2012 /PRNewswire/ --Trilantic Capital Partners
("Trilantic"), a global private equity firm, today announced that it has
completed the sale of the assets of TLP Energy ("TLP"), an Oklahoma City-based
oil and gas producer, to NFR Energy ("NFR") for approximately $655 million,
subject to customary closing adjustments. NFR will acquire the upstream and
midstream assets of TLP, including approximately 64,000 net acres of mineral
leasehold and production of approximately 6,500 barrels of oil equivalent per
TLP Energy was formed in August 2011 by its CEO, David Le Norman, with funding
by Trilantic Capital Partners. TLP's assets consist primarily of oil and gas
production and leases in the Texas Panhandle and Oklahoma. The company
targets several hydrocarbon reservoirs, including the Cleveland Sands and the
Granite Wash plays.
"I am very proud of my team for the outstanding results they have delivered in
such a short time frame," added TLP CEO David Le Norman. "This exit
represents another value creation opportunity for our shareholders, and we are
appreciative of the support Trilantic provided during our partnership over the
past year and a half."
"We would like to thank David Le Norman and the team at TLP Energy for their
hard work and dedication to the success of this investment over the last 16
months," said Christopher Manning, Partner at Trilantic Capital Partners.
"Because of this dedication, we have been able to quickly achieve the growth
that we had envisioned for TLP."
TLP Energy is the latest in a series of recent and pending exits for Trilantic
including Fortitech, Istanbul Doors Group, Mediclinic International, Microstar
Logistics and SRAM.
Trilantic Capital Partners is a private equity firm focused on control and
significant minority investments in North America and Europe with primary
investment focus in the consumer, energy, financial and business services
sectors. Trilantic was formed in 2009 by the former principals of Lehman
Brothers Merchant Banking, where they created a strong track record of
investing in and building successful growth businesses. Trilantic currently
manages four institutional private equity funds with aggregate capital
commitments of $5.0 billion.
The firm and its principals have committed in excess of $1.5 billion across
the energy and natural resources sector, with investments in oil and gas
exploration and production, midstream, oilfield services, coal mining and
mining equipment, and energy merchants. Trilantic and its principals have
managed significant investments in leading companies including Antero
Resources, Enduring Resources, Pacific Energy Partners, Peabody Energy, and
Velvet Energy, among others. For more information, visit
About TLP Energy
TLP Energy LLC, based in Oklahoma City, OK, is backed by Trilantic Capital
Partners, other co-investors and management to pursue upstream oil and gas
opportunities in the Anadarko Basin. TLP's management team is led by CEO
David Le Norman.
SOURCE Trilantic Capital Partners
Contact: Amanda Oey, Prosek Partners, +1-212-279-3115 ext 275,
email@example.com, or Caroline Harris, Prosek Partners, +1-212-279-3115 ext 222,
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