Core capabilities of Next Wave include customized toll processing, manufacturing and logistics solutions for natural gas liquids, petrochemicals and gasoline blending components.
Next Wave executive chairman Patrick Diamond said: "The renaissance in North American hydrocarbon production has had a ripple effect on the energy industry, creating waves of opportunity further down the value chain."
Next Wave president and CEO Michael Bloesch said: "Next Wave will capitalize on these changing market dynamics to create value for our customers by optimizing their value chains and further developing markets for their products; thus, we are focused on building strong, collaborative and long-term relationships with our customers."
The investment is made by Energy Capital Partners and Next Wave senior management.
Next Wave will use the funding from Energy Capital to pursue greenfield development projects and potential acquisitions.
