M&A Deal Summary

Basalt Infrastructure Partners Acquires Xpress Natural Gas

On February 1, 2021, infrastructure investor Basalt Infrastructure Partners acquired oil/gas exploration company Xpress Natural Gas

Acquisition Highlights
  • This is Basalt Infrastructure Partners’ 1st transaction in the Oil/Gas Exploration sector.
  • This is Basalt Infrastructure Partners’ 3rd transaction in the United States.
  • This is Basalt Infrastructure Partners’ 1st transaction in Massachusetts.

M&A Deal Summary
Date 2021-02-01
Target Xpress Natural Gas
Sector Oil/Gas Exploration
Buyer(s) Basalt Infrastructure Partners
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) RBC Capital Markets (Financial)
Wilmer Cutler Pickering Hale and Dorr (Legal)

Target

Xpress Natural Gas

Andover, Massachusetts, United States
Xpress Natural Gas is a fully integrated compressed natural gas (“CNG”) provider. The Company provides reliable, low-carbon energy solutions to utility, commercial and industrial end-users. Xpress Natural Gas was founded in 2011 and is based in Andover, Massachusetts.

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Buyer(S) 1

Buyer

Basalt Infrastructure Partners

Investor Investor Investor Investor Investor

Category Infrastructure
Founded 2011
PE ASSETS 2.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Basalt Infrastructure Partners is an infrastucture investor focused on opportunities across North America and Europe. The Firm's principal areas of interest include utilities, energy, and transportation. Basalt prefers assets with significant barriers to entry, sustainable long-term cash-flows, and high operating margins. In addition to acquiring operational assets, the Basalt will also consider late stage construction projects. Basalt Infrastructure Partners was founded in 2011 and is headquartered in London.

DEAL STATS #
Overall 8 of 17
Sector (Oil/Gas Exploration) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 3 of 5
State (Massachusetts) 1 of 1
Country (United States) 3 of 7
Year (2021) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-08 Full Fibre

Exeter, United Kingdom

FullFibre is an owner and operator of fibre networks in England. The Company seeks to continue its rollout and provide fibre to the premises (“FTTP”) to small and medium sized market towns primarily in the south-west and west of England, expanding its existing presence in the region. Full Fibre was founded in 2017 and is based in Exeter, United KIngdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-10 Digital Infrastructure

Newton-le-Willows, United Kingdom

Digital Infrastructure is a provider of telecommunication infrastructure owner, supporting businesses and homes across the UK and internationally by keeping their networks connected to the world through FTTP services. Digital Infrastructure is based in Newton-le-Willows, United Kingdom.

Buy -
Mergr

Product

Company

Legal