Next Wave Energy Partners LP confirms that Energy Capital Partners (ECP), a private equity firm focused on investing in North America’s energy infrastructure, has made an investment in the company. ECP will provide Next Wave with up to $500 million in equity capital to focus on the development, operation, acquisition, and expansion of midstream and downstream petrochemical and fuels assets. ECP is joined by members of Next Wave’s senior management in the investment.
Next Wave’s core capabilities include customized toll processing, manufacturing, and logistics solutions for natural gas liquids, petrochemicals, and gasoline blending components. The company, which is focused on opportunities in the US and Canada, expects to utilize ECP’s funding to pursue greenfield development projects and potential acquisitions.
Next Wave is led by its four founders: Patrick Diamond, executive chairman; Michael Bloesch, president and CEO; Dan Fahey, vice president of engineering and technology; and Sean Diamond, vice president of operations and commercial. The Next Wave management team has nearly nine decades of collective energy industry experience with a focus on midstream, petrochemical, and fuels value chains.