Kinder Morgan, Inc. completed the acquisition of LNG Indy, LLC from Parallel49 Equity (Fund V), LP, managed by Parallel49 Equity, ULC for approximately $320 million.
August 19, 2021
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Kinder Morgan, Inc. (NYSE:KMI) agreed to acquire LNG Indy, LLC from Parallel49 Equity (Fund V), LP, managed by Parallel49 Equity, ULC for $310 million on July 16, 2021. Key members of Kinder Morgan, Inc. management team will be joining KMI as part of the acquisition to pursue new projects that expand their successful RNG platform. After deal close, Aaron Johnson will continue with KMI as president of Renewable Natural Gas and will report to Arenivas. The transaction is subject to regulatory approval under Hart-Scott-Rodino and federal regulatory approval. The transaction is expected to close in the third quarter of 2021. Kinder Morgan, Inc expects the investment to be accretive to its shareholders as the three RNG facilities become operational over the next 18 months, with the purchase price and additional development capital expenditures representing less than six times expected 2023 EBITDA. J.P. Morgan Securities LLC acted as financial advisor to LNG Indy, LLC. Brian Richards, Ziemowit T. Smulkowski, Eric R. Dahlia and Michael S. Wise of Paul Hastings LLP acted as legal advisor to LNG Indy, LLC and Parallel49 Equity. Catherine Callaway James, Adam Forman, Eric McCord, Jordan Mintz and Jeff Utay of King & Spalding LLP acted as legal advisor for Kinder Morgan.
Kinder Morgan, Inc. (NYSE:KMI) completed the acquisition of LNG Indy, LLC from Parallel49 Equity (Fund V), LP, managed by Parallel49 Equity, ULC for approximately $320 million on August 20, 2021. The company will continue operations as Kinetrex Energy, a Kinder Morgan company.
Kinder Morgan, Inc. specializes in transporting and storing oil and gas. Net sales (including intragroup) break down by activity as follows:
- transport, processing and storage of natural gas (70.2%);
- transport of refined oil products (13.5%): gasoline, diesel, liquefied natural gas (LNG), etc.;
- transshipment and storage of petroleum products, dry and liquid bulk services (10.3%): fuel, coal, petroleum coke, cement, alumina, salt, chemical products, etc.;
- transport and sale of carbon dioxide (6%). The group also develops crude oil production activity in the Permian Basin in West Texas.
The United States accounts for 99.2% of net sales.
Kinder Morgan, Inc. completed the acquisition of LNG Indy, LLC from Parallel49 Equity (Fund V), LP, managed by Parallel49 Equity, ULC for approximately $320 million.
KINDER MORGAN, INC. 
