Parallel49 Equity acquires LNG supplier Kinetrex Energy

Canadian private equity firm Parallel49 Equity has acquired Kinetrex Energy, a supplier of liquefied natural gas (LNG) in the Midwestern United States. Terms weren't disclosed for the deal, which was done in partnership with the company's management. Established in 2013, Kinetrex operates two LNG production facilities in Indianapolis, Indiana, which allow the company to provide fueling solutions to the transportation, commercial, industrial, agricultural and power markets. It is Parallel49’s second platform investment since the firm’s launch in 2015, following a rebranding of Tricor Pacific Capital's fifth fund. Last year, Parallel49 invested in Questco LLC.

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