KKR To Invest C$250 Mln In Torq Energy Logistics - Quick Facts

(RTTNews) - Private equity firm Kohlberg Kravis Roberts & Co. L.P. (KKR) announced that Torq Energy Logistics, Ltd. or "Torq", an affiliate of Torq Transloading Inc., and KKR have entered into a definitive agreement, pursuant to which KKR has committed to invest a total of C$250 million to fund Torq's capital program and acquisition strategy.

Founded in 2011, Torq is a private company that provides transportation solutions for producers seeking to transport crude oil by rail car in Western Canada. Torq operates six transloading terminals and provides a fully-integrated crude handling and transportation service from the wellsite to the rail car.

The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to close in January 2014.

Upon close, three members of KKR's Energy & Infrastructure business, Raj Agrawal, Brandon Freiman, and Frank Spelman will join the Board of Directors.

The investment is being made by KKR North American Fund XI and other funds and accounts managed by KKR.