Goodwin Procter represented Agility Fuel Systems, a leader in natural gas fuel system solutions for commercial vehicles, in its announced agreement to merge with Hexagon Composites’ CNG Automotive Products Division to form Agility Fuel Solutions. The new entity will be owned equally by Hexagon Composites and Agility’s current investors. The transaction is expected to close in the third quarter of 2016.
Agility Fuel Solutions will have production sites in the United States, Norway and Brazil, with technical centers located in Lincoln, Nebraska and Kelowna, British Columbia. It will also manufacture cylinders for use in its systems, as well as for direct sale with offices in the United States, Canada, Latin America, Norway, India and Southeast Asia.
Agility Fuel Systems, headquartered in Santa Ana, California, is the leading developer and manufacturer of natural gas fuel systems for medium- and heavy-duty vehicles in North America. Agility’s highly engineered, proprietary natural gas fuel systems store, manage and deliver natural gas to the engine and enable the safe and effective use of natural gas as a vehicle fuel for local, regional and long-haul applications.
Hexagon Composites is a publicly listed company headquartered in Aalesund, Norway. It operates one of the world’s most advanced facilities for designing, testing and manufacturing all-composite cylinders for gas applications. It is a leading global supplier in the industry and sets the standard for excellence in efficiency, safety and durability.
The Goodwin team was led by partners Josh Klatzkin and Adam Small and associates Betsy Burke, Caleb Piron (Corporate); and counsel Kirby Lewis (Antitrust); partners Bill Whitledge and David Patton (Tax); partner Joel Lehrer (IP); and counsel Sarah Bock (Executive Compensation).
For more details on the transaction, please read the press release.