Crestwood Equity to acquire the remaining stake in the joint venture with First Reserve for $268m.

Crestwood Equity, an asset manager, agreed to acquire the remaining stake in the joint venture with First Reserve, a global private equity investment firm, for $268m. “Crestwood has established a track record of solid execution, disciplined capital allocation and a commitment to embracing a best-in-class MLP sustainability program. Today’s announcements are the next logical steps in our strategy to drive peer leading governance and set the stage for future growth by simplifying our organizational structure, increasing our public float and liquidity, and enhancing our financial flexibility as we strive to generate long-term value for our unitholders,” Robert G. Phillips, Crestwood Equity Chairman, President and CEO.