Global alternative investment firm HIG Capital has acquired a controlling stake in a waste-to-renewable natural gas company in the US.
HIG said its infrastructure arm has acquired the interest in Northern Biogas, a company specialising in the development and operation of renewable natural gas facilities. Financial details were undisclosed.
Based in Morgantown, West Virginia, Northern Biogas designs, builds, owns, operates, services, and maintains anaerobic digester and renewable natural gas facilities across the US.
Northern Biogas’ CEO, Chris Akers said: “We appreciate HIG’s confidence in our business plan and are excited to partner with HIG as we continue to execute on our development pipeline of dairy, landfill, and food waste RNG projects.
“We are solidly positioned to provide rapid, best-in-class service to our customers and partners, given our unique combination of development experience, in-house technical knowledge, and full-scale, proven construction and operation expertise, all of which are now supported by HIG, an outstanding financial partner.”
George Watts, managing director with HIG Infrastructure, said: “We are delighted to be partnering with this uniquely capable management team in a dynamic part of the renewables market. The commercial opportunity is immense, and we look forward to supporting the company and the team in its growth.”
Ed Pallesen, co-head of HIG Infrastructure, said: “We have a strong commitment to facilitating the transition to a clean energy economy, and Northern Biogas is an excellent example of our approach of investing in sustainable, critical infrastructure.
”This investment is a strong addition to our existing portfolio of middle market, value-add infrastructure companies.”
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