PE-backed Azure hires new CFO

Azure Midstream Energy, backed by Energy Spectrum Capital and Tenaska Capital, has appointed Eric Kalamaras as its first CFO.

Azure Midstream Energy, a private equity-backed midstream natural gas company, has hired Eric T. Kalamaras as its new chief financial officer, the Houston-based company said in a statement.

Kalamaras joins Azure from Valerus Energy Holdings where he most recently served as senior vice president and chief financial officer, directing the financial strategy of the $1 billion company that provides oilfield infrastructure and oil and gas handling solutions globally.

“Eric is an industry all-star with proven experience bringing energy companies to the next level and helping deliver impressive returns to investors,” said Azure president and chief executive IJ “Chip” Berthelot.

Kalamaras has extensive transactional and capital raising experience having placed over $30 billion of debt and equity capital in numerous structures for mergers and acquisitions, corporate restructurings, leveraged recapitalisations, and initial public/private offerings for debt and equity, according to the statement.

Launched in January 2013, Azure Midstream is a natural gas gathering and processing company. Its primary partner and investor is private equity firm Energy Spectrum Capital, which focuses exclusively on the energy sector.

However, in November 2013, Azure completed its acquisition of TGGT Holdings, a joint venture midstream company operating in east Texas and north Louisiana from UK natural gas company BG Group and Dallas-based EXCO Resources for $910 million.

Tenaska Capital Management, a private equity firm focused on investments in the power and energy sectors in North America, contributed cash and the East Texas Gathering System to the transaction, acquiring an ownership interest in Azure.