Infrastructure fund manager Ancala has acquired a portfolio of pipeline infrastructure on the US Gulf Coast from chemical firm Hexion.
Ancala has invested an unspecified sum to acquire the pipeline-connected sites and storage facilities for the production, storage and transportation of chemical intermediates.
Valentra, a newly formed company composed of associates from Hexion鈥檚 former operating division, will manage the portfolio of sites.
Ancala said it will work with Valentra to explore organic and acquisitive value-creation opportunities.
Lee Mellor, partner at Ancala, said: 鈥淰alentra鈥檚 assets play a critical role in supporting leading global chemicals companies in manufacturing chemicals that are essential to a diverse range of end markets.
鈥淭he portfolio鈥檚 infrastructure qualities, well-invested asset base and long-standing customer relationships make it a natural fit for Ancala鈥檚 strategy.鈥�
Alex Mihut, CEO of Valentra, said: 鈥淎s we move forward, our top priority remains clear: continuing to provide strong support to our existing customers and partners, ensuring stability, reliability and continuity through this transition.
鈥淲e are very pleased to be partnering with Ancala to build a platform for long-term growth 鈥� one that would allow us to expand our capabilities and bring even greater value to the markets we serve.鈥�
The latest transaction represents Ancala鈥檚 third investment in North America and follows the firm鈥檚 establishment of a New York office in 2024.
Ancala鈥檚 other investments in the region include the short-line rail platform Phoenix Rail and the Toronto-based decarbonised heating and cooling specialist Noventa.
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