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  1. Parallel49 Equity Completes Sale of Kinetrex Energy

    LAKE FOREST, Ill., August 24, 2021-Parallel49 Equity today announced the successful closing of the sale of Indianapolis-based Kinetrex Energy to Kinder Morgan, Inc. (NYSE – KMI) for $310 million.  Parallel49’s Fund V acquired Kinetrex in December 2016.  The Transaction represents firm’s largest ever multiple of invested capital on single investment.

    Kinetrex is leading supplier of liquefied natural gas in the Midwest and a rapidly growing player in producing and supplyng renewable natural gas (RNG) under long-term contracts to transportation service providers.  Under Parallel49 ownership, Kinetrex completed a significant expansion into landfill-based RNG production, transforming Kinetrex into a leading alternative energy company and helping its customers achieve carbon negative mandates as well as their environmental, social and governance objectives.