Traverse Midstream Acquisition, Valuation, Funding & Investors
Traverse Midstream was acquired by ePointZero for $2.3B in March 2026.
Traverse Midstream acquisition price
$2.3B
Acquired by ePointZero · Mar 2026
Cumulative funding Traverse Midstream raised
$545M
across 1 funding round
About Traverse Midstream
Traverse Midstream is an Edmond, Oklahoma-headquartered energy firm acquiring non-operated midstream assets in natural gas gathering, processing, and pipelines. Founded in 2014, the company partners with producers in the Permian and Anadarko basins to develop infrastructure supporting over 1 billion cubic feet daily. Its portfolio includes stakes in compression stations and long-haul lines across Texas and Oklahoma.
Founded
2014
HQ
Oklahoma City, OKWebsite
Status
Acquired
Customer focus
B2B
Revenue model
Usage-based
Valuation
$2.3B (acquired Mar 2026)
Traverse Midstream Acquisition
Traverse Midstream was acquired by ePointZero for $2.3B on 30 March 2026.
Before the acquisition Traverse Midstream had raised $545M across 1 funding round.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 30 Mar 2026 | Strategic M&A | $2.3B |
Traverse Midstream Funding History
Traverse Midstream has raised a total of $545M across 1 funding round.
Traverse Midstream funding rounds
| Date | Stage | Raised | Deal Summary |
|---|---|---|---|
| Sep 2014 | Undisclosed stage | $545M | Traverse Midstream Partners LLC was founded in June 2014 by The Energy & Minerals Group, focusing on midstream investments in key basins, including a 35% interest in the ETP-operated Rover Pipeline LLC and a 25% interest in the ETP-operated Ohio River System (ORS). In September 2017, Traverse closed a $1.285 billion senior secured term loan, upsized from $1.135 billion, with proceeds used to fund capital requirements for its Rover and ORS interests, retire existing debt, and for general corporate purposes. Rover was partially in service with expected completion in Q1 2018, while ORS had been operational for nearly two years, both serving as critical infrastructure for Utica and western Marcellus basins. Later financial activities included a 2023 refinancing with a new $1.28 billion term loan B and $50 million revolver to repay existing debt, extending maturities to 2028 and modifying excess cash flow sweeps. S&P Global Ratings affirmed a 'B+' rating, forecasting debt to EBITDA at about 6x through 2024, with adjusted EBITDA expected between $195 million and $215 million, supported by 90% take-or-pay contracts on Rover and ORS, plus incremental volume benefits. EBITDA interest coverage was projected at 1.75x-2.25x over 24 months. As of December 31, 2014, Traverse had $210 million outstanding under a $500 million Affiliate Credit Agreement. No details on a specific VC funding round around September 30, 2014, including post-money valuation, revenue, ARR, EBITDA, or valuation multiples near that date, appear in the sources. Debt metrics and later EBITDA forecasts are referenced but do not align with VC equity round requirements or the time period. |
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Start Free TrialTraverse Midstream Competitors
Traverse Midstream competitors include listed companies like NGL Energy Partners, Dorian LPG, Genesis Energy and Fluxys Belgium, and private ones like TANAP and Hyundai Oilbank.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| United States | Publicly listed | $3.2B | $336M | $2.1B | 1.8x | |
| United States | Publicly listed | $482M | $281M | $2.5B | 5.0x | |
| United States | Publicly listed | $1.6B | $537M | $1.9B | 3.3x | |
 Belgium | Publicly listed | $855M | $368M | $1.8B | 2.6x | |
 Ankara | Private | - | - | $4B | - | |
 Cheongju | Private | $18B | - | $8.8B | 0.5x |
Traverse Midstream Public Comps
Traverse Midstream is no longer listed, but its public comps include Oil Refineries, Arabian Drilling, Aker Solutions, Alpha Metallurgical, Headwater Exploration, Dongfang Electronics Co, MedcoEnergi, Bangchak Corporation, NGL Energy Partners and LandBridge.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $5.8B | $356M | 0.5x | - | 8.2x | - | |||
| $916M | $297M | 3.1x | 3.1x | 9.6x | 8.7x | |||
| $6.6B | $505M | 0.3x | 0.3x | 4.0x | 3.9x | |||
| $2.1B | $80M | 0.9x | 0.9x | 25.2x | 15.6x | |||
| $443M | $234M | 5.2x | 5.3x | 9.8x | 7.6x | |||
| $1.2B | $155M | 1.4x | 1.2x | 10.9x | 10.1x | |||
| $2.4B | $1.2B | 2.2x | 2.1x | 4.3x | 3.9x | |||
| $15B | $839M | 0.4x | 0.4x | 8.0x | 3.3x | |||
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Common questions about Traverse Midstream
| When was Traverse Midstream founded? | Traverse Midstream was founded in 2014. |
| Where is Traverse Midstream headquartered? | Traverse Midstream is headquartered in Oklahoma City, OK, United States. |
| Is Traverse Midstream publicly listed? | No, Traverse Midstream was acquired by ePointZero in March 2026. |
| Who acquired Traverse Midstream? | Traverse Midstream was acquired by ePointZero in March 2026. |
| How much was Traverse Midstream acquired for? | Traverse Midstream was acquired for $2.3B in March 2026. |
| How much funding has Traverse Midstream raised? | Traverse Midstream has raised $545M across 1 funding round. |
| What was Traverse Midstream's last funding round? | Traverse Midstream's last funding round was a $545M undisclosed-stage round in September 2014. |
| Which companies are comparable to Traverse Midstream? | Companies comparable to Traverse Midstream include NGL Energy Partners, Dorian LPG, Genesis Energy, Fluxys Belgium, TANAP and Hyundai Oilbank. |
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