Superior Plus To Acquire Certarus, Adding A High Organic Growth Low Carbon Cng, Rng And Hydrogen Distribution Platform To Superior’S Existing Energy Distribution Business
Acquiring Company
Superior Plus
Acquired Company
Certarus
TorontoCalgaryEnergyOil And GasRenewable EnergyEnergyOil And GasRenewable EnergyDescription
Superior Plus Corp. (“Superior”) (TSX: SPB) and Certarus Ltd. (“Certarus”) are pleased to announce that the companies have entered into a definitive arrangement agreement (the “Arrangement Agreement”) for Superior to acquire Certarus, a leading North American low carbon energy solutions provider (the “Acquisition”) for a total acquisition value of $1.05 billion, representing 8.5x 2022E EBITDA. Under the terms of the Acquisition, Superior will acquire all the outstanding common shares of Certarus, representing an equity value of $853 million and assume Certarus’ outstanding senior bank credit and leases with a total value of $196 million. The Certarus shareholders will receive $353 million in cash and $500 million of Superior common shares priced at $10.25 per share, representing approximately 17% pro forma ownership. The transaction has been unanimously approved by the Board of Directors of both Superior and Certarus and is expected to close in the first quarter of 2023, subject to customary closing conditions.
Quick answer
Superior Plus is acquiring Certarus, announced December 22, 2022. Superior Plus is based in Toronto, Ontario, Canada.
- How much did Superior Plus pay for Certarus?
- The deal value was not disclosed.
- What does Superior Plus do?
- Superior is a leading North American distributor of propane, compressed natural gas, renewable energy and related products and services, servicing approximately 770,000 customer locations in the U.S. and Canada.
- Where are Superior Plus and Certarus based?
- Superior Plus is based in Toronto, Ontario, Canada. Certarus is based in Calgary, Alberta, Canada.
- Who are the decision-makers at Superior Plus?
- Fundz holds 1 contact at Superior Plus. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
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Frequently asked
Who acquired Certarus?
Certarus was acquired by Superior Plus, based in Toronto. The deal was reported on December 22, 2022. Superior is a leading North American distributor of propane, compressed natural gas, renewable energy and related products and services, servicing approximately 770,000 customer locations in the U.S. and Canada. Superior Plus is privately held and operates in Energy.
When did Superior Plus acquire Certarus?
Superior Plus's acquisition of Certarus was reported on December 22, 2022. Superior Plus Corp. (“Superior”) (TSX: SPB) and Certarus Ltd. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Certarus do?
Certarus is the North American leader in providing on-road low carbon energy solutions through a fully integrated CNG, renewable natural gas and hydrogen platform. It is privately held, operating in Energy, and is based in Calgary.
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