Marathon Capital Advises Amp Americas on Sale of its ampCNG Unit to American Natural Gas
Marathon Capital, LLC (“Marathon”) is pleased to announce the sale of Amp Americas’ ampCNG business unit to American Natural Gas (“ANG”) for $41 million. The acquisition of ampCNG’s 20 natural gas fueling stations expands ANG’s network reach to over 60 stations, making it one of the largest owners and operators of compressed natural gas (CNG) stations in the country.
Amp Americas has been a pioneer in the renewable transportation fuel industry since 2011, and put one of the first over-the-road CNG fleets into action. The 42-truck fleet has now run over 50 million miles. Marathon worked closely with the Amp Americas team to provide market outreach, valuation, structuring and due diligence on the transaction. ANG designs, builds, owns, operates, and maintains CNG stations. Sparkstone Capital Advisors worked as a co-advisor with Marathon Capital on the sale process.
“We are pleased to have been able to work with Amp Americas on this important transaction. Amp Americas has been a leader in the development of both the CNG and renewable natural gas markets in the US.” –Gary Greenblatt, Managing Director at Marathon Capital
About Marathon Capital
Marathon Capital is a leading financial advisory and investment banking firm focused on providing financial advice in the areas of M&A, capital raising of debt and equity, project finance, tax equity, financial restructuring, recapitalization, bankruptcy and workout situations in the energy sector. Marathon Capital is a four-time recipient of the “Best Renewable Asset M&A Adviser” Award, “Renewable Generating Project Finance Deal of the Year” Award (2016), first-time recipient of the “Best Asset M&A Adviser” (2017) and first-time recipient of the “M&A Adviser of the Year” (2019) in Power Finance & Risk’s Annual Power Finance Deals and Firms Awards.
About Amp Americas
Founded in 2011, Amp Americas is a pioneer in the renewable transportation fuel industry. The company builds and operates on-farm biogas projects, sources and markets RNG to supply fuel to some of the country’s largest fleet customers, and partners with dairy farmers across the country to bring more ultra-low CI gas to market. The company currently operates the two largest on-farm biogas projects in the country, which produce five million gallons of 100% renewable natural gas from dairy waste annually. Amp Americas received the first dairy waste-to-vehicle fuel pathway certified by California’s Air Resources Board (CARB) and was awarded a Carbon Intensity (CI) score of -254.94 gCO2e/MJ, the lowest ever issued by CARB. Visit www.ampamericas.com.