CapeOmega was acquired by Partners Group for $1.4bn

CapeOmega, a Bergen, Norway-based midstream infrastructure company, announced that it was acquired by the Swiss private equity group, Partners Group.

The company is being 100% acquired from private equity investor HitecVision in a transaction that values CapeOmega at around EUR 1.2 billion. In 2014, HitecVision funded the establishment of CapeOmega as a start-up E&P company focusing on late life production and decommissioning on the Norwegian Continental Shelf (NCS).

CapeOmega provides essential infrastructure for transporting natural gas produced on the Norwegian Continental Shelf and holds significant stakes in some of Norway's key midstream infrastructure: Gassled, the world's largest offshore gas transmission system; Nyhamna, one of three key gas processing plants in Norway; and Polarled, a 480km pipeline that runs from the Aasta Hansteen field to Nyhamna.

CapeOmega's midstream investments benefit from high barriers to entry with no competing infrastructure and no pipe-to-pipe competition.