Summit Midstream Partners, an LP focused on owning and operating midstream energy infrastructure, announced terms for its IPO on Thursday. The Dallas, TX-based company plans to raise $250 million by offering 12.5 million units at a price range of $19 to $21. At the midpoint of the proposed range, Summit Midstream Partners would command a fully diluted market value of $996 million.
Summit Midstream Partners, which was founded in 2009 and booked $138 million in sales for the 12 months ended 6/30/2012, plans to list on the NYSE under the symbol SMLP. Barclays, BofA Merrill Lynch, Goldman Sachs and Morgan Stanley are the joint bookrunners on the deal.
