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Black Bear Transmission Announces Acquisition of Natural Gas Transmission Assets from Third Coast Midstream

Vinson & Elkins advised Basalt in the announcement by its portfolio company Black Bear Transmission LLC that an affiliate has entered into a definitive agreement to acquire a portfolio of Natural Gas Transmission (NGT) assets from a subsidiary of Third Coast Midstream LLC.

The NGT assets are a natural extension to the Southeast United States natural gas transmission business that Basalt acquired from Third Coast Midstream in 2019, which resulted in the formation of Black Bear. This transaction marks Black Bear’s second bolt-on acquisition, having acquired the Ozark system from Enbridge in April 2020.

The V&E team was led by partner Mike Saslaw with assistance from counsel Elena Sauber and associate Alex Turner.

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