June 14, 2019 – Richmond, VA – Sparkstone Capital Advisors, LLC (“Sparkstone”) is pleased to announce the sale of the ampCNG business unit from AMP Americas, LLC (“AMP Americas”) to American Natural Gas (“ANG”) for $41 million. ampCNG owned 20 ultra-fast-fill compressed natural gas (“CNG”) fueling stations in the Midwest, Southeast, and Texas. Sparkstone advised AMP Americas and its shareholders in the transaction, working with Marathon Capital as a co-advisor.
AMP Americas has been a pioneer in the renewable transportation fuel industry since 2011, and put one of the first over-the-road CNG fleets into action. It also builds, owns, and operates on-farm anaerobic digestion projects, producing valuable renewable natural gas (“RNG”) for sale into transportation fuel markets. AMP Americas received the first dairy waste-to-vehicle fuel pathway certified by California’s Air Resources Board, and was awarded a Carbon Intensity (“CI”) score of -254.94 gCO2e/MJ, the lowest ever issued at the time. With the sale of ampCNG, AMP Americas intends to focus on developing new RNG production facilities going forward.
ANG designs, builds, owns, operates, and maintains CNG stations. The ampCNG acquisition expands ANG’s network to over 60 stations, making it one of the largest owners and operators of CNG stations in the country.
Sparkstone is a financial advisory firm focused on mergers, acquisitions, and capital raising in the energy and industrial sectors. It is a division of Frontier Solutions, LLC which is a member of FINRA/SIPC. Sparkstone was founded in 2018 by three partners with decades of collective energy M&A experience. The firm’s goal is to provide independent and unbiased client service, execute transactions efficiently with senior-level bankers, and develop meaningful long-term relationships. More information can be found at www.sparkstonecap.com