Sunday, June 7, 2009

Carlyle Group's Price for Permian Tank $50 million

When The Carlyle Group and joint venture partner Riverstone Holdings purchased Permian Tank in December 2007, the private equity underwriter refused to share the buyout price. Local West Texas newspapers had little comment on the deal.

However, an attorney who worked on the deal revealed the purchase price. The lawyer stated this on their resume:

Associate, M&A/Private Equity and Securities (New York, NY) (Sept 2006-Nov 2007) Representations included:

Carlyle Group in $50 million acquisition of a manufacturer of oil and gas storage tanks

The attorney revealed what the Fourth Estate did not. Did this deal encumber another West Texas employer with burdensome debt? If so, don't expect to read about in a Scripps Howard paper.