Antin Infrastructure Partners Acquires Majority Stake in GTL Leasing, Advancing Hydrogen Industry in North America
Key Ideas
  • Antin Infrastructure Partners has agreed to acquire a majority stake in GTL Leasing, the leading lessor of gaseous hydrogen transportation and storage equipment in North America.
  • GTL Leasing, founded in 2013, is set to expand its product portfolio and pursue opportunities in the hydrogen industry, benefiting from increasing demand for low-carbon H2.
  • The investment by Antin will enable GTL Leasing to offer cryogenic hydrogen transport and storage, compressor/dispenser platforms for fuel cell electric vehicles, and fuel cell generators.
  • The acquisition aligns with Antin's vision of driving sustainable energy solutions and the 'grey to green' transition in logistics, further expanding its platform in North America.
Antin Infrastructure Partners has announced the acquisition of a majority stake in GTL Leasing, a prominent lessor of gaseous hydrogen transportation and storage equipment in North America. This marks GTL's sixth investment for NextGen Fund I and its first in the hydrogen industry. GTL, founded in 2013 by Michael Koonce, operates as a technology-agnostic lessor with a substantial fleet of high-pressure gaseous trailers and cylinders primarily used for hydrogen and other industrial gases. The investment from Antin will facilitate the expansion of GTL's platform, broadening its product offerings to include cryogenic hydrogen transport and storage, fuel cell electric vehicle infrastructure, and fuel cell generators. GTL stands to benefit from the growing demand for low-carbon hydrogen in zero-emission logistics and material handling markets in North America. The management team, led by Michael Koonce, will continue to leverage its operational expertise and industry relationships. Both Michael Koonce and Delisa Leighton, President of GTL Leasing, expressed enthusiasm about the partnership with Antin, highlighting the potential to accelerate GTL's market position in hydrogen equipment leasing. Antin's experience in the transport and energy sectors is expected to bring valuable knowledge and collaboration opportunities to GTL. The transaction, facilitated by Armistead Street Capital Partners and legal counsels Moscone Emblidge & Rubens LLP for GTL Leasing and Orrick, Herrington & Sutcliffe LLP for Antin, is set to close within the next month. Antin Infrastructure Partners, a private equity firm with a focus on infrastructure investments, aims to drive sustainable energy solutions and promote the transition to green logistics through its investments.
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