Golden Gate Capital Completes Sale of Stonehill Environmental Partners

Golden Gate Capital, a San Francisco-based private equity firm, today announced the completion of its sale of Stonehill Environmental Partners (“Stonehill” or the “Company”), an energy infrastructure company. Financial terms of the transaction were not disclosed.

Launched in 2021 with a de-novo investment from Golden Gate Capital in partnership with Stonehill CEO Jay Parkinson, Stonehill is an environmental services business that enables energy customers to recycle and dispose of water safely, reliably, economically, and with minimal carbon emissions. Since Golden Gate Capital’s investment, the business has quadrupled earnings organically through growth of both new and existing contracts with premier energy counterparties. Golden Gate Capital, Mr. Parkinson, and the Stonehill team, including Tony Gutta, Vincent Lopez, Chris Stanton, and Paul Donavan, previously partnered together to establish Hillstone Environmental Partners, a provider of comprehensive water infrastructure solutions, which Golden Gate Capital sold to NGL Energy Partners LP (NYSE: NGL) for $600 million in October 2019.

“We are pleased to have completed another successful partnership with Jay and his talented team,” said Javier Puig, a Managing Director at Golden Gate Capital. “Over the past four years, Stonehill has firmly established itself as an industry-leading provider of environmentally friendly, efficient water solutions. In addition, Stonehill achieved strong financial results and impressive organic growth by leveraging a premier network of operating assets in the Midland Basin and executing long-term contracts with investment grade E&P companies.”

“Golden Gate Capital has been an invaluable partner and has made significant investments to help drive our organic growth,” said Mr. Parkinson. “I am thankful for Golden Gate Capital’s support and our outstanding relationship over the years, and am proud of the Stonehill team’s incredible work building the Company into what it is today.”

Houlihan Lokey and Deutsche Bank acted as financial advisors to Stonehill and Jones Day served as legal counsel.

About Golden Gate Capital

Golden Gate Capital is a San Francisco-based private equity firm focused on partnering with management teams to build exceptional consumer, industrials, technology, and financial services companies. Since its founding in 2000, the firm has managed approximately $20 billion in cumulative committed capital. For more information, visit www.goldengatecap.com.

About Stonehill

Stonehill Environmental Partners is an energy infrastructure company focused on designing, building, owning and operating fixed water pipeline, recycling and disposal assets. Stonehill also focuses on monetizing existing E&P owned water infrastructure assets so E&P companies can re-deploy capital to core drilling and completion activities. For more information, visit www.sh-ep.eco.

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