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IIF Acquires Enstor Gas from ArcLight | Business & Finance

HOUSTON–(Enterprise WIRE)–May well 11, 2022–

Enstor Fuel (“Enstor”), the biggest privately owned gas storage company in the U.S., right now declared that the company and its normal fuel midstream property have been obtained by the Infrastructure Investments Fund (“IIF”), an investment auto advised by J.P. Morgan Financial commitment Management Inc., from an affiliate of ArcLight Money Companions, LLC (“ArcLight”). Conditions of the transaction ended up not disclosed.

“Today’s transaction is a tribute to the toughness of our assets in the U.S. gasoline storage current market, our employees’ powerful track file of safe, successful functions and their commitment to the communities in which we work,” Enstor CEO Paul Bieniawski mentioned. “It is due to the fact of their tricky perform that Enstor is the major U.S. natural gasoline storage enterprise.”

Matthew LeBlanc, Main Financial commitment Officer for IIF, stated, “We are excited to do the job with Enstor, an field-main strategic system uniquely positioned to deliver risk-free, trusted organic gasoline storage products and services in strategic places throughout the U.S. We look ahead to partnering with the Enstor leadership team and personnel to construct on the company’s observe record of achievements for the benefit of its consumers and communities.”

“Together with management, ArcLight developed Enstor into a foremost all-natural gasoline storage franchise through a series of asset acquisitions and business and engineering optimization activities beginning in 2018. With today’s sale, the following chapter of option begins for Enstor, and we wish the team and IIF excellent accomplishment,” mentioned Dan Revers, ArcLight’s Handling Partner.

Enstor will proceed to regulate and run its pure gasoline storage facilities in Alabama, Mississippi, Texas and New Mexico. The Enstor headquarters will continue to be in Houston and the Enstor govt workforce will keep on to regulate the firm.

RBC Funds Markets served as economic advisor and Milbank LLP served as authorized advisor to IIF. Jefferies LLC served as money advisor and Orrick Herrington & Sutcliffe LLP served as lawful advisor to ArcLight.

Enstor is the largest privately owned purely natural gas storage corporation in the United States. Headquartered in Houston, the corporation owns and operates six active underground natural gas storage facilities in 4 states with more than 110 Bcf in doing work gasoline potential. Enstor has approximately 179 miles of transmission pipelines and 39 interconnects to key transmission pipelines. For much more information and facts, remember to visit www.enstorinc.com.

The Infrastructure Investments Fund (IIF) is an about $24 billion private expense automobile focused on investing in significant infrastructure belongings. IIF is accountable for investing and increasing the retirement resources of additional than 60 million people. Headquartered in New York with more places of work in London, and recommended by a focused infrastructure financial investment group within just J.P. Morgan Expenditure Management Inc., IIF is a extensive-term owner of organizations that supply crucial services, these kinds of as renewable power, water, organic gasoline and electric utilities, and transportation infrastructure, all of which are vital to the economic wellness and efficiency of the communities in which it operates.

IIF’s relatives of corporations serves over 10 million consumers and employs over 10,000 people from neighborhood communities. Giving nearby crucial products and services – with employees, consumers and communities that usually overlap – needs IIF’s companies to be effectively-governed, have a potent culture and be stewards of the ecosystem in purchase to satisfy the terms of its social license to work. IIF’s 20 portfolio businesses are located generally in the United States, Europe, Canada and Australia.

ArcLight is a leading private equity firm concentrated on energy, infrastructure and strength changeover with a effective prolonged-expression observe report. Started in 2001, the agency aided pioneer an asset-primarily based solution to investing throughout the electricity, renewables, infrastructure and broader strength benefit chain. Considering that then, ArcLight has invested roughly $26 billion in 116 transactions, such as more than $10 billion of equity funds into the electrification phase, which contains electricity, transmission, renewable infrastructure and strength changeover investments. Through its substantial infrastructure portfolio, ArcLight is targeted on furnishing decarbonizing vitality solutions with a sturdy ESG emphasis. Based mostly in Boston, the firm’s financial investment team employs a value-additional investment tactic that benefits from its dedicated in-property technical, operational, and industrial professionals and associates, as nicely as the firm’s about 1,500-individual asset administration affiliate. Extra information and facts about ArcLight can be found at www.arclight.com.


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PUB: 05/11/2022 06:52 PM/DISC: 05/11/2022 06:52 PM

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