Vinson & Elkins advised Sapphire Gas Solutions LLC, a Conroe, Texas-based natural gas solutions provider, in the acquisition of CLEANCOR Holdings LLC (“CLEANCOR”), from SEACOR Holdings Inc. CLEANCOR is a California-based service provider of compressed natural gas, liquefied natural gas, renewable natural gas, and hydrogen solutions for industrial, commercial, transportation, and pipeline infrastructure customers across the United States.
Vinson & Elkins advised a consortium of investors led by Swiss Life Asset Management AG, a Swiss asset manager with over 160 years’ experience and €266 billion in assets under management, and including EDF Invest, the investment arm of the French-based EDF Group, in the acquisition of a large minority interest in DataBank, a portfolio company of DigitalBridge Group, Inc.
Recognized as PFI’s “Transport Deal of the Year,” Vinson & Elkins advised sponsor Aleática, an IFM Investors portfolio company, in the issuance of a project bond and bank debt for the financing of the Autopista Río Magdalena 2 highway project, part of the 4G infrastructure program in Colombia.
Vinson & Elkins advised its longstanding client Helios Towers plc (“Helios Towers”, the “Group”), the FTSE 250 independent telecommunications infrastructure company, in connection with agreements with Airtel Africa Group companies (“Airtel Africa”) to acquire its passive infrastructure operating companies in Madagascar and Malawi and its entry into exclusive memorandum of understanding arrangements for the potential acquisition of its passive infrastructure assets in Chad and Gabon, all subject to required regulatory approvals. These are all new markets for Helios Towers and will involve long-term service contracts for an initial period of 12 years providing $1.1 billion of future contracted revenue.
Vinson & Elkins advised affiliates of Ridgewood Energy Corporation on their investment in the King’s Quay Floating Production System (“FPS”) to be located in the Gulf of Mexico. The FPS is more than 90 percent built and is scheduled to go into service in mid-2022. The FPS is designed to process 80 thousand barrels of oil per day and 100 million cubic feet of natural gas per day, and will handle the anticipated production from the Khaleesi / Mormont and Samurai fields. The FPS is owned by affiliates of ArcLight Capital Partners and Ridgewood Energy Corporation, which also manages an interest held by ILX Holdings III.
Vinson & Elkins advised global investment firm KKR in connection with First Sentier Investors’ (FSI) sale of its 40% holding in Caruna Oy (Caruna), Finland’s largest electricity distribution company, to KKR and Ontario Teachers’ Pension Plan Board (OTPP), which now hold 20% each. Keva has sold its 12.5% holding to AMF. The transactions have received all necessary regulatory approvals.
Vinson & Elkins advised Hygo Energy Transition Ltd. (“Hygo”) in connection with a definitive agreement for New Fortress Energy Inc. to acquire Hygo, a 50-50 joint venture between Golar LNG Limited and Stonepeak Infrastructure Fund II Cayman (G) Ltd., a fund managed by Stonepeak Infrastructure Partners and Golar LNG Partners, LP. The transaction is valued at a $3.1 billion enterprise value and a $2.18 billion equity value.
Vinson & Elkins advised Encore Dredging Partners, LLC (“EDP”), a newly-formed premier specialty dredging and marine infrastructure services firm, in its acquisition of Inland Dredging Company, LLC for an undisclosed purchase price. EDP completed the transaction with the support of its financial sponsor, Austin-based AV Capital, and third-party financing.
Vinson & Elkins advised Takkion Holdings LLC, a portfolio company of funds managed by affiliates of Apollo Global Management, Inc. and premier multimodal logistics and transportation provider for energy transition infrastructure, in connection with its acquisition of Sioux Falls, SD-based Renew Energy, Inc. and its subsidiaries.
Vinson & Elkins advised funds managed by affiliates of Apollo Global Management, Inc. in connection with the formation of a joint venture with Altius Minerals Corporation’s subsidiary, Altius Renewable Royalties (“Altius”), to accelerate the growth of Great Bay Renewables, the US-based operating subsidiary of Altius and a leading provider of renewable energy development capital in North America.
Vinson & Elkins LLP announced today that Kaam Sahely, head of the firm’s Renewable and Sustainable Energy and Infrastructure practices, will relocate to Austin, Texas, enhancing the group’s capabilities to serve clients in one of the nation’s clean technology centers.
Vinson & Elkins advised Crestview Partners in connection with its investment in Upwell Water, a San Francisco-based, water-focused specialty finance company.