PE Deals

Apollo snaps up gas company CATEC

CATEC was founded in 2014.

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  • Over the last five years, Apollo has deployed over $23 billion into energy transition and sustainability-related investments
  • TerraNova Capital served as financial advisor to CATEC on the deal
  • Baker Botts L.L.P. acted as legal counsel to CATEC while Vinson & Elkins LLP acted as legal counsel to Apollo

Apollo has acquired a majority stake in Houston-based Composite Advanced Technologies Inc, a provider of compressed natural gas, renewable natural gas and hydrogen transportation and storage solutions. No financial terms were disclosed.

CATEC was founded in 2014.

On the deal, Apollo Partner Scott Browning said in a statement, “CATEC’s proprietary manufacturing capabilities are critical to supporting the growing market demand to reduce carbon emissions in ‘hard-to-decarbonize’ industries. The CATEC team has built an impressive business, which we believe can scale to become a one-stop-shop platform for serving the equipment needs of the compressed gas value chain through various expansion initiatives.”

Over the last five years, Apollo has deployed over $23 billion into energy transition and sustainability-related investments.

TerraNova Capital served as financial advisor to CATEC on the deal. Baker Botts L.L.P. acted as legal counsel to CATEC while Vinson & Elkins LLP acted as legal counsel to Apollo.