December 2, 2025
Willkie is representing Stakeholder Midstream, LLC, a portfolio company of EnCap Flatrock Midstream, in its acquisition by Targa Resources Corp. (NYSE: TRGP) for $1.25 billion.
On December 1, Targa announced a definitive agreement under which a wholly owned subsidiary of Targa will acquire Stakeholder for $1.25 billion in cash. The acquisition enhances Targa’s sour gas treating capabilities and expands its natural gas gathering and processing footprint in the Permian Basin.
Stakeholder was formed in 2015 with an initial equity commitment from EnCap Flatrock Midstream, a venture capital firm that provides growth capital to proven management teams focused on midstream infrastructure opportunities across North America.
The Willkie team is led by partner Sarah McLean with associates John Hunt and Katherine Lubrano, and includes partners Robert Jacobson and Scott Thompson, counsel Britton Davis and Jonathan Konoff, and associates David Mohl and Kim Aquino.
On December 1, Targa announced a definitive agreement under which a wholly owned subsidiary of Targa will acquire Stakeholder for $1.25 billion in cash. The acquisition enhances Targa’s sour gas treating capabilities and expands its natural gas gathering and processing footprint in the Permian Basin.
Stakeholder was formed in 2015 with an initial equity commitment from EnCap Flatrock Midstream, a venture capital firm that provides growth capital to proven management teams focused on midstream infrastructure opportunities across North America.
The Willkie team is led by partner Sarah McLean with associates John Hunt and Katherine Lubrano, and includes partners Robert Jacobson and Scott Thompson, counsel Britton Davis and Jonathan Konoff, and associates David Mohl and Kim Aquino.
