Dallas-based private equity firm BP Energy Partners has purchased a controlling interest in the Canadian Cryopeak LNG Solutions.
The liquefied natural gas solutions company Cryopeak will become a portfolio company in BPEP’s second private equity fund, BP Natural Gas Opportunity Partners II.
In addition to the controlling interest acquisition, BPEP will also commit additional capital to Cryopeak to support its continued growth throughout North America.
Cryopeak is focused on providing industrial customers and utilities with access to natural gas in locations where natural gas pipeline services are unavailable, limited or unreliable.
The company provides LNG virtual pipeline services including LNG procurement, LNG transportation and LNG onsite equipment and support.