Monday, July 18, 2011

Crestview: Crest Fallen USA

Mike Farrell reported Crestview Partners and MidOcean Partners, which own 42% of Insight Communications, could buy The Carlyle Group's 42% stake, given their right of first refusal.  MidOcean sports George Pataki. Which private equity underwriter (PEU) with a heavy hitter ex-politician will buy out Carlyle's stake?  Carlyle is renowned for its political connections.

White researching Crestview Partners, they recently added Western Company of Texas, a shale water play, to Select Energy Services.  Crestview's initial investment in SES came in May 2010.

The Standard Times ran a series on massive amounts of water and toxic chemicals used in shale drilling, via a technique known as fracking.  SweetH2O means sweet PEU profits.

Crestview's stake in the Barnett Shale overlaps Carlyle's.  How long before Crestview is sued for water that burns?

PEU's poision America's economic environment.  It's no surprise they foul life giving water.  Surely, the air is next.

CORRECTION 8-15-11:  The original version of this piece had Bob Rubin as a Senior Advisor for Crestview Patners.  That is incorrect.  Rubin is with Centerview Partners, not Crestview.  I apologize for this error.

Update 8-15-11:  Carlyle, MidOcean and Crestview sold Insight to Time Warner for $3 billion.