Initial Public Offering
Baird served as a joint bookrunner on this offering
AboutCypress Energy Partners, L.P. (“Cypress” or the “Partnership”) (NYSE: CELP) recently completed an initial public offering of 4,312,500 common units at a price of $20.00 per unit, generating gross proceeds of $86.3 million. Cypress intends to use the net proceeds from the offering to reimburse Cypress Energy Holdings, LLC, which owns an approximate 68% interest in the Partnership, for certain capital expenditures incurred with respect to the assets being contributed to Cypress.
Cypress is a growth-oriented master limited partnership that provides saltwater disposal and other water and environmental services to U.S. onshore oil and natural gas producers and trucking companies in North Dakota and west Texas. The Partnership also provides independent pipeline inspection and integrity services to producers and pipeline companies throughout the U.S. and Canada. In both of these segments, Cypress works closely with its customers to help them comply with increasingly complex and strict environmental and safety rules and regulations and reduce their operating costs. Cypress is headquartered in Tulsa, Oklahoma.
For additional information about this transaction, please contact:
- January 2014
- Cypress Energy Partners, L.P.
- Target Location
- North America