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  • American City Business Journalslast month

    Cleveland Indians land KC businessman as minority owner

    One of the most powerful businessmen in Kansas City is investing part of his fortune in a Major League Baseball team. John Sherman built up Kansas City-based Inergy LP through numerous mergers before the company combined with Crestwood Holdings in 2013 , creating a $7 billion midstream energy partnership. Now, he's acquired an interest in the Cleveland Indians.

  • American City Business Journals5 months ago

    Con Edison buys $975M stake in Crestwood's East Coast assets

    Crestwood Equity Partners LP, which includes the assets of former Kansas City-based Inergy LP, sold a 50 percent stake in its natural gas pipeline and storage facility in southern New York and northern Pennsylvania to Consolidated Edison Inc. (Con Edison) for $975 million. Crestwood will transfer its gas pipeline and storage business to a new entity called Stagecoach Gas Services LLC, which is 50 percent owned by Con Edison.

  • American City Business Journals10 months ago

    Crestwood initiates $100M repurchasing plan to boost shares

    Crestwood Holdings Partners doesn't think its current share price fully reflects the fundamental value of company assets. To drive home its point, the company on Monday announced a $100 million repurchasing program for Crestwood Equity Partners LP, which houses the former Inergy LP assets. Crestwood Equity Partners (CEQP) owns and operates “midstream” energy assets, which are basically pipelines and storage facilities for oil and gas.