Antin Infrastructure Partners is acquiring a majority stake in GTL Leasing, a lessor of gaseous hydrogen transportation and storage equipment in North America.
Antin which is investing an unspecified amount on behalf the NextGen Fund I, said the deal is the sixth investment for its debut next-generation infrastructure fund. It also represents the fund’s second in North America and first in the hydrogen sector.
Founded in 2013, GTL is a lessor of high-pressure gaseous trailers and cylinders used mainly to transport and store hydrogen and other industrial gases.
Antin said its investment will help expand GTL’s platform, broaden its product portfolio and allow the company to pursue a pipeline of opportunities with customers.
Michael Koonce, GTL Leasing’s CEO and founder, said: “With Antin as our long-term strategic partner, we are well positioned to accelerate our market leading position in specialised hydrogen equipment leasing to include cryogenic hydrogen transport and storage, compressor/dispenser platforms for fuel cell electric vehicle growth and fuel cell generators.
“We will continue to deliver operational excellence and provide flexibility to our customers.”
Delisa Leighton, president of GTL Leasing, said: “This significant capital investment by Antin will allow us to meet our customers’ real time infrastructure needs including the many transit agencies transitioning their fleets to hydrogen-powered vehicles which are in need of storage, compression and fueling solutions.”
Nathalie Kosciusko-Morizet and Stephan Feilhauer, partners at Antiin’s next generation business, said GTL Leasing joins Antin’s platform in North America, which now includes seven investments across the manager’s flagship, mid-cap and next generation strategies.
“This acquisition aligns perfectly with our vision of driving sustainable energy solutions and the ‘grey to green’ transition in logistics,” the partners added.
The NextGen fund raised €1.2bn at its close in November last year. The fund’s previous investments include investing in electric vehicle charging platforms Powerdot and RAW Charging, committing to smart grid platforms SNRG and PearlX and investing in a tyre recycling joint venture with Enviro and Michelin.
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