Bridgepoint's ECP to sell Harvestone to Andersons for $915m
Energy Capital Partners (ECP), the infrastructure investment platform owned by Bridgepoint Group, has agreed to sell US low-carbon ethanol producer Harvestone Low Carbon Partners to agricultural group Andersons for $915m, according to a report by The Wall Street Journal. The transaction will expand Andersons' renewable fuels platform by more than 40%, adding approximately 215 million gallons of…
Infrastructure investment firm Bridgepoint Group's Energy Capital Partners (ECP) has reached an agreement to sell US low-carbon ethanol producer Harvestone Low Carbon Partners to agricultural company Andersons for $915 million, according to The Wall Street Journal.
This transaction will significantly bolster Andersons' renewable fuels platform, increasing its size by more than 40%, and adding roughly 215 million gallons of annual ethanol production capacity. Harvestone Low Carbon Partners currently operates three ethanol production facilities located in North Dakota and Indiana, which collectively bring the combined group's annual production capacity to approximately 730 million gallons.
To finance the acquisition, Andersons plans to utilize $300 million in borrowings from its existing revolving credit facility, along with approximately $615 million in additional long-term debt. The deal is anticipated to conclude in late 2026 or early 2027. This sale marks an exit for ECP from a US renewable fuels investment, as infrastructure investors continue to evaluate potential portfolio realizations amidst growing demand for lower-carbon energy and agricultural processing assets.
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- Bridgepoint’s ECP to sell Harvestone to Andersons for $915m privateequitywire.co.uk
