InfraVia acquires small-scale LNG player Molgas

French private equity firm InfraVia Capital Partners has acquired European small-scale LNG player Molgas Energy.

The equity company completed the acquisition via its InfraVia European Fund IV, it said on Tuesday without revealing the financial details of the transaction.

However, law firm Ashurst said last month it advised InfraVia on the move valuing the deal at about 120 million euros ($141 million).

The move included buying a 43.3 percent Molgas stake from HAL- controlled Dutch company Broadview.

Madrid-based Molgas provides integrated LNG infrastructure solutions to more than 100 off-grid industrial customers.

It owns and operates LNG filling stations for heavy-duty trucks and provides bunkering infrastructure and services to shipping companies.

The company mainly operates in Spain, Portugal, and France but also throughout Europe with presence in Italy, Belgium and the UK.

With this deal, the company is looking to further expand its business.

Molgas has about 260 employees and sales in 2019 amounted to 105.7 million euros.

“In the current energy transition context, LNG represents an attractive alternative to traditional oil-based fuels consumed in the industry and the transportation markets, both from economical and environmental standpoints,” Infravia said in its statement.

InfraVia’s chief executive Vincent Levita said the “use of LNG by off-grid customers is mature in Spain and Portugal but only emerging in the rest of Europe.”

“We look forward to working as a long-term partner with the Molgas team to develop the company across Europe,” Levita added.

Most Popular

LNG shipping rates continue to decrease

Spot LNG freight shipping rates in both basins continued to decrease this week, while European prices increased compared to last week.

GTT secured orders for nine LNG carriers in Q1

French LNG containment giant GTT received orders for nine liquefied natural gas carriers in the first quarter, while its revenue rose 31.6 percent compared to the same period last year.

US LNG exports climb to 34 cargoes

US liquefied natural gas (LNG) plants shipped 34 cargoes during the week ending April 16. According to the Energy Information Administration, pipeline deliveries to the LNG terminals increased compared to the prior week.

More News Like This

Molgas in Zeebrugge bio-LNG move

European small-scale LNG player Molgas has kicked off a truck-to-ship bio-LNG bunkering in the Belgian port of Zeebrugge.

Molgas wraps up its first UK LNG bunkering op

The Madrid-based group completed the maiden truck-to-ship LNG bunkering operation in Troon, Scotland, on Thursday. Molgas bunkered LNG to the...

Molgas launches first LNG station in Greece

Greece’s Blue Grid, a part of Madrid-based small-scale LNG player Molgas, has launched what it says is Greece's first...

Blue Grid starts LNG supplies to first industrial customer in Greece

Greece's Blue Grid, a part of Madrid-based small-scale LNG player Molgas, has started supplying liquefied natural gas to compatriot...