The West Firm BLOG

West Firm Completes $15 Million Post-Acquisition Financing for American Natural Gas, LLC

On May 12th, The West Firm successfully completed a post-acquisition financing transaction for its client, American Natural Gas, LLC, (“ANG”), with loans totaling $15 million.  ANG is a local company headquartered in Saratoga Springs, NY.  This transaction came on the heels of two (2) acquisitions handled by The West Firm for ANG in December of 2016.  On December 16th, ANG acquired Questar Fueling Company (“Questar”), a subsidiary of Dominion Questar Corporation.  Questar owned and operated ten (10) natural gas fueling stations in Arizona, California, Kansas, Texas and Utah, with one (1) additional station in development in California.  Then, on December 20th, ANG followed its Questar acquisition by acquiring Constellation CNG, LLC (“Constellation”), a subsidiary of Constellation NewEnergy, Inc.  Constellation, itself, owned and operated seven (7) natural gas fueling stations in Indiana and Ohio, with one (1) additional station in development in Pennsylvania.  These acquisitions were completed with an additional equity raise, also closed simultaneously by the Firm.  As a result of these transactions, ANG is a major player in the natural gas fueling station industry.  ANG now has a total of 36 stations, with an additional four (4) stations in development, located in 15 states.  Gregory Mountain, a partner in The West Firm who is experienced with energy transaction issues, handled all aspects of this rapid expansion effort.