Funds managed by private investment firm Apollo have acquired a majority interest in Freedom CNG (Freedom), an owner and operator of compressed natural gas (CNG) and renewable natural gas (RNG) fuelling infrastructure in Texas.
Founded in 2012, Freedom operates a fast-growing network of high capacity fuelling stations in strategic, highly trafficked locations in the Houston Metro area, providing RNG to customers including leading logistics and transportation companies, refuse companies, municipalities, school districts and other high-volume fuel users in support of their decarbonisation objectives.
Over the past five years, Apollo-managed funds have deployed approximately $40bn into energy transition and sustainability-related investments, supporting companies and projects across clean energy and infrastructure, including offshore and onshore wind, solar, storage, renewable fuels, electric vehicles as well as a wide range of technologies to facilitate decarbonisation.
Raymond James & Associates, Inc. served as financial advisor and Crady Jewett McCulley & Houren LLP and Baker Botts LLP acted as legal counsel to Freedom. Vinson & Elkins LLP acted as legal counsel to the Apollo Funds.
