Company Recognized for Leadership in Industry and State
INDIANAPOLIS- The Midwest’s largest supplier of liquefied natural gas (LNG) earns a top honor from the Indiana chapter of the Association for Corporate Growth (ACG). Kinetrex Energy, previously owned by Citizens Energy Group, was purchased by Chicago-based Parallel49 Equity in December 2016. ACG seeks award recipients that achieve great things within Indiana’s economy and community.
Headquartered in Indianapolis, Kinetrex manufactures, markets, delivers and stores LNG. LNG is natural gas that been converted to liquid, making it easier to store and transport and ensuring it is a safe and reliable alternative to diesel, oil and propane. Both the City of Indianapolis and Citizens Energy Group rely on LNG as backup during the extreme cold when their supply pipelines cannot meet their need. Kinetrex operates LNG production facilities on the north and south sides of the city. Each plant has one billion cubic feet of storage capacity.
in addition to LNG, Kinetrex also markets traditional pipeline natural gas (PNG) and renewable natural gas (RNG) to commercial and industrial businesses in Indiana and surrounding states. In the last year, Kinetrex has become the largest provider of natural gas, by volume, to commercial and industrial customers in the Citizen Energy Group distribution system.
Deal of the Year award winners are chosen by ACG for the impact their deal has on the state or the company’s industry. Having an Indiana-focused mission and adding value to the state’s business community is paramount.
“As a growing company, we are honored to receive an award that recognizes our contributions not only to our city but our state,” said Aaron Johnson, CEO of Kinetrex Energy. “Our employees work and live in this community which is why we are excited about the tremendous benefits LNG offers both consumers and the environment. We are thrilled to be independently owned, private-equity backed and are excited about our future.”
Setting it apart from other applicants is Kinetrex’s leadership position in the LNG market. The capital investment expected by Parallel49 gives Kinetrex even greater potential to further that leadership and attract new commerce to the state. The Kinetrex team will accept the Deal of the Year award during the ACG’s annual dinner on April 20, 2017. Kinetrex was advised in its sale to Parallel49 by Periculum Capital Company, LLC, a leading Indianapolis-based investment and merchant banking firm.
About Kinetrex Energy
Kinetrex is the leading supplier of liquefied natural gas in the Midwest and operates two significant LNG production facilities located in Indianapolis. The company designs, markets and implements a portfolio of LNG, pipeline natural gas and renewable natural gas energy solutions for customers in the transportation, commercial, industrial, agricultural and power markets.