Basalt Infrastructure Partners’ third flagship Basalt fund (Basalt III) has entered into a definitive agreement to acquire Xpress Natural Gas (XNG) for an undisclosed amount.
XNG is a fully integrated Compressed Natural Gas provider operating in the United States and Canada. The company provides reliable, low-carbon energy solutions to utility, commercial and industrial end-users.
This transaction will mark Basalt III’s third investment, after Habitat Solar and Full Fibre.
“We could not be more excited about joining the Basalt portfolio and gaining access to a world class team and resources,” said John Nahill, CEO of XNG. “XNG’s significant growth in the C&I, utility and virtual pipeline markets has only been constrained by its access to capital.”
Completion of the transaction remains subject to customary closing conditions.
