Sale of 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.