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Pennybacker Completes Acquisition of Miami LNG Business, Appoints Daniel McLaughlin President and Chief Commercial Officer

Nov 21, 2024•8 months ago

Acquiring Company

Pennybacker Capital Management

Acquired Company

Pennybacker Capital Management

Description

Pennybacker Capital Management, LLC has successfully completed the acquisition of the small-scale Florida-based liquefied natural gas production and distribution business (Miami LNG business) from New Fortress Energy Inc. In addition, Daniel McLaughlin has been appointed as President and Chief Commercial Officer to lead the Miami LNG business, which is strategically positioned to support the energy transition in underserved markets and poised for significant growth.

Company Information

Company

Pennybacker Capital Management

About

The Miami LNG business is a strategically located small-scale liquefaction operation, equipped with one liquefaction train that produces up to approximately 8,300 MMBtu per day of LNG, optimized for truck and rail logistics to enable efficient and flexible distribution for its customers. It serves the hospitality, industrial, transportation, aerospace, and marine bunkering sectors principally in Florida and the Caribbean islands, providing on average an estimated 15-40% cost advantage over traditional fuels like diesel, making it a cost-effective, reliable, and cleaner energy source.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed

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