Alberta Investment Management Corporation has acquired a stake in Howard Energy Partners from Astatine Investment Partners, according to a press release.
AIMCo will now hold a total ownership stake of 87% in HEP, the release states. The company acquired an initial 28% stake in 2017
HEP management and other minority investors will continue to hold a 13% ownership interest in the company.
TPH&Co., the energy business of Perella Weinberg Partners, served as financial advisor and Kirkland & Ellis served as legal advisor to AIMCo on the transaction.
Last year the Port of Corpus Christi Authority and HEP) executed an MOU to convert Howard’s Javelina refinery services facility at the port into a blue hydrogen production facility.
