Delphi Midstream Partners has completed the sale of Laser Northeast Gathering Company, its natural gas gathering business located in Pennsylvania and New York, and other gathering assets in Texas to Williams Partners LP. The purchase price included $329 million in cash and approximately 7.5 million Williams Partners' units. Delphi Midstream Partners is owned by American Securities LLC and management.

Matthew F. LeBaron, a managing director of American Securities, commented, "We are pleased to have completed the sale of Laser and Delphi's Texas assets to Williams Partners. We believe Williams Partners will be a great steward for Laser's business and its employees moving forward. American Securities, Tom Karam, CEO of Delphi Midstream Partners, and Laser's management team worked hard to build a world-class midstream company that will now benefit from the strength of Williams Partners' leadership."

Thomas F. Karam, founder and CEO of Delphi Midstream Partners, said, "Williams Partners is a terrific long-term home for Laser. As a result of the completion of this sale, we are confident that by integrating Williams Partners' expertise and Laser's local industry experience and knowledge, the combined company will have excellent opportunities for growth."

Tags: Delphi Midstream Partners