Hexagon Composites ASA completed its acquisition of Agility Fuel Solutions Holdings Inc. on Jan. 4.
In 2016, Hexagon’s and Agility Fuel Systems’ medium- and heavy-duty compressed natural gas automotive businesses merged to create Agility Fuel Solutions, resulting in Hexagon’s owning 50% of Agility. In November 2018, Hexagon signed an agreement to acquire the remaining 50% of the company in a deal that valued Agility’s equity at $250 million on a 100% basis. The companies said they would further promote the adoption of natural gas, biogas, hydrogen, propane and electrification.
By Betsy Lillian, NGT News