Tailwater-backed Producers Midstream II to acquire certain gathering and processing assets from Midcoast Energy.

Tailwater-backed Producers Midstream II, a provider of turnkey midstream solutions, agreed to acquire certain gathering and processing assets from Midcoast Energy, a full-service natural gas and natural gas liquid midstream business. Financial terms were not disclosed. "These high-quality and complementary assets expand our ability to provide best-in-class midstream infrastructure solutions, positioning our business to create substantial long-term value for our customers. We are excited to welcome the Midcoast team to the Producers organization and look forward to building upon Midcoast's strong foundation," Matt Flory, Producers Midstream CEO.