Ara Partners unit in $875 million deal for power, ethanol assets
March 11 (Reuters) - Private markets firm Ara Partners said on Wednesday its energy unit will buy Gate City Power and Gate City Renewable Fuels portfolios from HF Capital while also picking up an interest in the JET retail network for a total of about $875 million.
The acquisition adds roughly 2.2 gigawatts (GW) of thermal-generation assets, 400 million gallons a year of ethanol production and about 970 fuel stations in Germany and Austria to Ara's portfolio.
The transaction will be financed with equity from funds and co-investment vehicles managed by Ara and its affiliates and is expected to close in early 2026.
Ara Partners is a global private markets firm focused on decarbonizing the industrial economy. It had about $6.6 billion in assets under management, as of September 30.
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