Tallgrass Energy Partners, an LP formed by Tallgrass Development to own, operate, acquire and develop midstream energy assets, filed on Thursday with the SEC to raise up to $315 million in an initial public offering. Tallgrass Development acquired an initial portfolio of assets having an enterprise value of $3.3 billion from Kinder Morgan in November 2012.
The Overland Park, Kansas-based company, which was formed in 2013 and booked $256 million in sales for the 12 months ended 12/31/2012, plans to list on the NYSE under the symbol TEP. Tallgrass Energy Partners, LP initially filed confidentially on 2/11/2013. Barclays and Citi are the joint bookrunners on the deal. No pricing terms were disclosed.
