KKR and SemGroup completed the acquisition of Meritage Midstream from Riverstone for C$600m.

KKR and SemGroup completed the acquisition of Meritage Midstream, an oil & gas producer, from Riverstone for C$600m. Meritage was acquired by SemCAMS Midstream, a Canadian midstream infrastructure platform, recently formed by KKR and SemGroup. “This transaction captures an attractive valuation for our SemCAMS business and accelerates our Canadian strategy in one of North America's premier energy basins. The acquisition of Meritage enables SemCAMS Midstream to expand and optimize its portfolio of assets, broaden its service offerings and create a more attractive Canadian growth platform. In addition, it delivers on our commitment to strengthen our balance sheet. We are pleased to partner with KKR, an industry-leading investor with extensive experience in the energy sector,” Carlin G. Conner, SemGroup Chief Executive Officer.