Southcross Energy Partners, which provides natural gas gathering, processing and transportation in the southern US, filed on Friday with the SEC to raise up to $230 million in an initial public offering. The Dallas, TX-based company, formed in 2009, is backed by private equity firm Charlesbank Capital Partners. Sales increased 5% to $523 million in 2011, while net income declined 22% to $8 million. Southcross Energy Partners plans to list on the NYSE under the symbol SXE. Citi and Wells Fargo are the joint bookrunners on the deal.
