H.I.G. Capital Actualité
1271 Avenue of the Americas
New York, NY 10020
Northern Biogas, an H.I.G. Infrastructure Portfolio Company, Accelerates Growth with Acquisition of Three Additional Dairy Renewable Natural Gas Projects
NEW YORK – February 6, 2023 – H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $54 billion of equity capital under management, is pleased to announce that its portfolio company, Northern Biogas, LLC (“Northern Biogas” or the “Company”), has acquired three additional dairy renewable natural gas (“RNG”) projects, significantly expanding its RNG production capacity.
Northern Biogas is a leading waste-to-RNG company, specializing in the development, construction, and operation of domestic RNG facilities. These facilities provide sustainable, clean energy derived from organic waste, which is used to displace the consumption of fossil fuels.
Following H.I.G.’s original investment in September 2022, the acquisition of these three facilities marks an acceleration of the Company’s rapidly expanding RNG project development pipeline. These acquired dairy RNG facilities are in close proximity to Northern Biogas’ existing footprint, creating attractive operational and commercial synergies, and are expected to begin commercial service by the first quarter of 2024.
Northern Biogas CEO, Chris Akers said, “We appreciate H.I.G.’s partnership, their continued commitment to our business plan, and the shared desire to scale our market position through the acquisition of these three new dairy RNG projects. Since partnering with H.I.G. in September 2022, we have more than doubled the number of RNG projects under construction, and rapidly expanded our RNG project development pipeline across the waste-to-renewable natural gas market. We look forward to utilizing our technical, commercial, and operational expertise to continue to expand our existing dairy RNG footprint and further develop our landfill and food waste RNG projects.”
George Watts, Managing Director with H.I.G. Infrastructure, added, "We are pleased to support Northern Biogas’ strategic initiatives with our professional resources and capital. Today’s announcement further establishes Northern Biogas’ presence in the rapidly growing RNG sector. Supporting the transition to a low-carbon economy remains a key pillar of H.I.G.’s investment philosophy, and our investment in Northern Biogas reaffirms our commitment to clean, renewable energy."
About Northern Biogas
Based in Morgantown, WV, Northern Biogas is a waste-to-renewable natural gas company that designs, builds, owns, operates, services, and maintains anaerobic digesters and renewable natural gas facilities across the U.S. Northern Biogas has decades of experience successfully developing and operating creative, sustainable clean energy solutions for its farm and industry partners. For more information, please visit www.northernbiogas.com.
About H.I.G. Capital
H.I.G. is a leading global alternative assets investment firm with $54 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:
- H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.
- H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
- H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
- H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.