Tallgrass Energy LP files for a $315 million IPO
Tallgrass Energy Partners, an LP formed by Tallgrass Development to own, operate, acquire and develop midstream energy assets, filed on Thursday with the SEC to raise up to $315 million in an initial public offering. Tallgrass Development acquired an initial portfolio of assets having an enterprise value of $3.3 billion from Kinder Morgan in November 2012.
The Overland Park, Kansas-based company, which was formed in 2013 and booked $256 million in sales for the 12 months ended 12/31/2012, plans to list on the NYSE under the symbol TEP. Tallgrass Energy Partners, LP initially filed confidentially on 2/11/2013. Barclays and Citi are the joint bookrunners on the deal. No pricing terms were disclosed.