CHRIS FOLMSBEE’s practice focuses on representing public and private businesses and private equity and infrastructure funds with investment transactions, primarily in the energy and infrastructure space, including experience representing clients with mergers, acquisitions, divestitures, debt and equity financings, and investments in distressed companies. His experience spans the energy sector (including upstream, midstream, and energy transition), the transportation sector, and more.
Partner
Chris Folmsbee
- Energy
- M&A
- Private Equity
Experience
- Representative Matters
Chris’ representative experience includes:
Transportation
- FTAI Infrastructure, Inc. in its US$1.05 billion acquisition of Wheeling Corporation and its railroad subsidiaries, Wheeling & Lake Erie Railway Company and Akron Barberton Cluster Railway Company.
- Pinsly Railroad, LLC (formerly Gulf & Atlantic Railways, LLC), a portfolio company of funds managed by Macquarie Asset Management, in connection with multiple acquisitions of shortline railroads across the U.S.
- Macquarie Infrastructure Partners in its acquisition of 100% of the equity interests of RailUSA, LLC, an independent U.S. holding company that operates the 430-mile Florida Gulf & Atlantic Railroad in Florida and the 228-mile Grenada Railroad in Mississippi and Tennessee.
- Fundamental Advisors in multiple acquisitions of fleets of rail cars and related portfolios of leases from The Greenbrier Companies.
- Fortress Transportation and Infrastructure Investors LLC in connection with its acquisition of Transtar, LLC, the holding company for six operating shortline railroads, from United States Steel Corporation for US$640 million.
- Fortress Transportation and Infrastructure Investors LLC in connection with its sale of the Central Maine & Quebec Railway to Canadian Pacific.
- Bertram Capital in connection with its sale of Spireon, Inc., a company that provides “connected vehicle” fleet management services.
Alternative Energy
- Invenergy Renewables Holdings LLC in its consortium with Caisse de dépôt et placement du Québec and funds managed by Blackstone Infrastructure Partners in its approximately US$1.5 billion acquisition of a 1,365-megawatt renewables portfolio from American Electric Power.
- Invenergy Renewables Holdings LLC, the largest private renewable energy company in North America, in connection with a US$1 billion follow-on equity investment from funds managed by Blackstone Infrastructure Partners.
- I Squared Capital in connection with the sale of the 60 MW Curtis Palmer hydroelectric portfolio to Innergex Renewable Energy Inc.
- Harrison Street in the formation of a US$250 million joint venture with Soltage, LLC to fund 450 MW of distributed solar and energy storage projects across the United States.
- Orion Renewable Energy Group LLC in connection with its sale of the Golden Hills Wind Farm, a 400 MW nameplate capacity wind facility in Oregon, to Avangrid Renewables, LLC.
- Swift Current Energy, a private renewable energy developer, in connection with a strategic investment from Buckeye Partners, L.P. and Nala Renewables.
- Denham Capital Management and its portfolio company, Serra Verde, in connection with an equity investment from funds managed by Vision Blue Resources and The Energy & Minerals Group. Serra Verde owns and operates a rare earths minerals mine in central Brazil.
- Swift Current Energy in connection with a joint venture with Enel Green Power North America to develop a 185 MW nameplate capacity wind farm in Illinois.
Oil and Gas
- Durango Midstream, a portfolio company of private equity funds managed by Morgan Stanley, in connection with the sale of its New Mexico Permian Basin gas gathering and processing business for US$765 million (combination of cash and stock in Kinetik (NYSE: KNTK)).
- Neste Corporation with a US$1 billion investment in its Martinez Renewables Fuels joint venture with Marathon Petroleum.
- OMERS Infrastructure Management Inc., the infrastructure investment manager for the Ontario Municipal Employees Retirement System, in an approximately US$1.4 billion acquisition of a 50% interest in BridgeTex Pipeline Company, LLC from Plains All American Pipeline, L.P. and Magellan Midstream Partners, L.P.
- Morgan Stanley Energy Partners in connection with its investment in Presidio Investment Holdings LLC (Presidio Petroleum) and an initial acquisition by Presidio Petroleum of oil and gas interests in the Anadarko Basin in Oklahoma and Texas.
- Stonepeak Infrastructure Partners in connection with a US$960 million equity financing for three joint ventures with Targa Resources Corp.that own interests in the Gulf Coast Express Pipeline, the Grand Prix NGL Pipeline, and a new fractionation train located in Mont Belvieu, Texas.
- Morgan Stanley Energy Partners in connection with its investment in Durango Investment Holdings LLC (Durango Midstream) and the acquisition by Durango Midstream of gathering and processing assets in New Mexico, Kansas, Oklahoma, and Texas.
- Morgan Stanley Energy Partners in connection with its investment in M.G. Bryan Equipment Company, a company that distributes and leases out industrial engines, pumps, generators, and oil field services equipment.
- EIV Capital, LLC in connection its investment in Fullstream Energy Holdings LLC, a company that provides midstream services in the Appalachian Basin, the SCOOP, and STACK plays in Oklahoma and the Permian Basin.
- EIV Capital, LLC in connection with its investment in Woodland Midstream II, LLC.
- BP America Production Company in the sale of its oil and natural gas properties in Cleveland and McClain Counties, Oklahoma (SWOOP area) to Lime Rock Resources.
- McKenzie Energy Partners LLC, a company that owns and operates produced water gathering and disposal systems in North Dakota, in connection with its sale to Gravity Oilfield Services Inc., a portfolio company of Clearlake Capital Group, L.P.
- Macquarie Group Limited in connection with its acquisition of Cargill Inc.’s global crude petroleum, natural gas, and power trading businesses.
- Denham Capital Management LP in connection with the sale by Greene’s Energy Group of Devin International to National Oilwell Varco, Inc.
- A privately owned oil and gas company in connection with a sale of a portion of their assets located in Louisiana for aggregate consideration of almost US$250 million comprised of both cash and equity issued by the purchaser.
Other Transactions
- A fund managed by Macquarie Asset Management in its agreement to acquire a 49% equity interest in Diamond Infrastructure Solutions (Diamond) from Dow Inc. for approximately US$3.0 billion. Diamond provides specialist infrastructure services to Dow and other industrial customers at five Dow manufacturing sites in Texas and Louisiana.
- Macquarie Asset Management in its acquisition of Coastal Waste & Recycling, Inc., a vertically integrated solid waste and recycling business with operations in Florida and Georgia.
- Coastal Waste & Recycling, Inc. in its acquisition of Southwest Waste, a leading independent waste-hauling and recycling company on Florida’s west coast.
- TSG Consumer Partners with their sale of Stumptown Coffee Roasters to Peet’s Coffee and Tea.
Capabilities
SERVICES AND INDUSTRIES
News & Insights
Credentials
Admissions & Certifications
- Texas
- Department of Veterans Affairs
Education
- University of Oklahoma College of Law, J.D., 2012 (with distinction)
- University of Oklahoma, B.A., 2009 (with distinction)