American Midstream Partners and JP Energy have successfully completed their previously announced merger.
Following the meeting of JP Energy unitholders, where a majority of them voted in favour of the agreement, American Midstream is now a large, more diversified midstream business operating in leading North American Basin.
The merged partnership will benefit from significantly improved scale and financial flexibility to invest in growth projects, third-party acquisitions and potential drop downs from affiliates of ArcLight Capital Partners.
Lynn Bourdon, president and CEO of American Midstream, says: ‘Through this merger, American Midstream will emerge as a stronger company with higher growth, new business opportunities and a stronger financial position.
‘This merger allows us to expand our service offerings from the well-head to the end user market. The combined company will have an enhanced growth strategy by offering customers a more comprehensive and competitive suite of services that enables us to capture incremental fee opportunities that strengthen margins and maximise returns to our unitholders.’