Infrastructure fund manager Ancala has acquired a portfolio of pipeline infrastructure on the US Gulf Coast from chemical firm Hexion.
Ancala has invested an unspecified sum to acquire the pipeline-connected sites and storage facilities for the production, storage and transportation of chemical intermediates.
Valentra, a newly formed company composed of associates from Hexion’s former operating division, will manage the portfolio of sites.
Ancala said it will work with Valentra to explore organic and acquisitive value-creation opportunities.
Lee Mellor, partner at Ancala, said: “Valentra’s assets play a critical role in supporting leading global chemicals companies in manufacturing chemicals that are essential to a diverse range of end markets.
“The portfolio’s infrastructure qualities, well-invested asset base and long-standing customer relationships make it a natural fit for Ancala’s strategy.”
Alex Mihut, CEO of Valentra, said: “As we move forward, our top priority remains clear: continuing to provide strong support to our existing customers and partners, ensuring stability, reliability and continuity through this transition.
“We are very pleased to be partnering with Ancala to build a platform for long-term growth – one that would allow us to expand our capabilities and bring even greater value to the markets we serve.”
The latest transaction represents Ancala’s third investment in North America and follows the firm’s establishment of a New York office in 2024.
Ancala’s other investments in the region include the short-line rail platform Phoenix Rail and the Toronto-based decarbonised heating and cooling specialist Noventa.
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