Deal Description: Tivoli Midstream LLC (“Tivoli”), recently announced the closing of an acquisition of strategic terminal and infrastructure assets located in the Gulf Coast of Texas in Brazoria County (the “Chocolate Bayou Assets”) from affiliates of Ascend Performance Materials, LLC (“Ascend”). The Chocolate Bayou Assets are anchored by a long-term partnership with Ascend, with ~2.5 million barrels of storage capacity available for third-party customers.

Tivoli is led by industry veterans with over 70 years of combined experience leading midstream and infrastructure organizations globally, including considerable experience in the Gulf Coast. To fund the Ascend transaction, Tivoli entered into an equity financing arrangement with certain funds managed by Intrepid Investment Management, LLC, the investing arm of Intrepid Financial Partners, L.L.C. (“Intrepid”).

Tivoli’s press release can be found here.

Baker Botts acted as legal advisor to Tivoli in connection with its equity financing arrangement with Intrepid.

Baker Botts Lawyers/Offices Involved:

Corporate: Jonathan Platt (Partner, Dallas), Rob Cowan (Associate, Austin).

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