Integrys Energy Group, Inc., a diversified holding company with utility operations, has acquired two operating businesses involved in the compressed natural gas (CNG) fueling business, Pinnacle CNG Systems and Trillium USA, previously owned by Wagner & Brown, Ltd. The transaction allows Integrys Energy Group to enter the CNG fueling marketplace, bring demonstrated capability to customers and enable market growth.
Integrys Chairman, President and Chief Executive Officer Charlie Schrock, said, “Together, Integrys Energy Group, Trillium and Pinnacle have the natural gas industry, CNG engineering, manufacturing and operating services expertise unmatched in the industry.”
The acquisition allows Integrys to take advantage of the broad-based capability at all stages of the CNG value chain of Pinnacle and Trillium, from refueling equipment design and manufacturing, station design, engineering and construction, and ongoing operation and maintenance services:
- Trillium’s core services extend from CNG fueling facility design through equipment selection and procurement and facility construction and design to CNG station service and maintenance. It owns and/or operates 20 fueling stations in multiple states.
- Pinnacle also owns and operates approximately 20 CNG fueling stations. Pinnacle has compression packaging expertise, including design, fabrication, construction and operation of complete CNG fueling stations.
The transaction consideration was all cash, with Integrys Energy Group acquiring all the outstanding common stock and membership interest of Pinnacle and Trillium. Pinnacle and Trillium will be subsidiaries of Integrys Transportation Fuels, LLC, which will hold Integrys’ CNG business activities. The subsidiaries are marketing under the existing names in current markets.
(This article compiled using information from an Integrys Energy Group press release)