Northgate provides $15 mln to NatGas

Northgate Capital has invested $15 million in NatGas. Based in Mexico, NatGas is an operator of natural gas stations.


Northgate Capital, the global private equity fund manager, has completed an investment in Natgas Queretaro, S.A.P.I. de C.V. (“NatGas” or “The Company”), initially for 15 million dollars. NatGas is a leading natural gas stations operator in Mexico. Northgate’s investment will provide the Company the resources to boost its expansion plan, which includes the opening of at least 25 new service stations in the next four years.

NatGas was founded in 2012 by Josue Hernandez after identifying significant potential of using natural gas in public transportation, a market segment in which fuel prices represent the main operating cost. The Company has developed a complete solution for its clients that includes service stations, car conversion shops and securing financing support. The Company currently operates five service stations in Queretaro, Celaya and Aguascalientes.

“We are very excited of this partnership, as we believe Northgate Capital will provide the company the support and strength required to continue growing aggressively in the years to come. We are eager to work closely with Northgate Capital to expand our geographic footprint covering regions that are experiencing rapid economic growth and have a strong potential user base,” commented Josue Hernandez, founder and CEO of NatGas.

“The natural gas vehicle (“NGV”) market in Mexico provides great opportunities for expansion. The country’s low market penetration, growing pipeline network and natural gas price difference versus gasoline result in very attractive conditions for investment,” said Guillermo Carmona, Principal at Northgate Capital. “We are very pleased about our partnership with Natgas and look forward to develop a successful growth story.”

“We are excited to provide NatGas the resources and institutional backing to accelerate its growth in this particular niche of the energy industry,” said Alejandro Medina, a Principal at Northgate Capital. “Company’s experienced management team and business model provide significant scalability potential. We look forward to work with the Company to create a market leader in the natural gas for vehicles industry.”

About NatGas
Founded in 2012, NatGas is the leading natural gas stations operator in Mexico. The Company has developed an integrated solution, which includes service stations, car conversion shops and securing financing support. The company operates five service stations with an expansion plan of developing a regional footprint of over 25 stations in the coming years. For more information, please visit:

About Northgate Capital
Founded in 2000, Northgate Capital is a leading global private equity fund manager with offices in San Francisco, London and Mexico, and more than US$5 billion in committed capital. Northgate has built a platform of over 40 professionals across Europe, North America and Latin America. For more information, please visit