Houston Company To Acquire KC Firm Inergy In $7 Billion Deal

Inergy, a Kansas City-based gas pipeline operator, has agreed to a $7 billion merger with Houston-based Crestwood Midstream Partners. Crestwood Holdings, an affiliated company, will take over Inergy and Inergy Midstream.

Pending shareholder and regulator approval, the merger will result in a company, to be named later, that will provide pipeline and other services to many of the biggest oil and gas drilling operations in North America. Headquarters of the company will be located in Houston, with additional executive offices in Kansas City and Fort Worth.

Robert Phillips, Crestwood’s chairman and chief executive, will head the new company. John Sherman, Inergy’s chairman and CEO, and Brooks Sherman, president of Inergy, will stop down from day-to-day management but maintain their investments in the partnership.

Read more from the Kansas City Star


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