Superior Plus completes transformative acquisition of Certarus

On May 31, 2023, Superior Plus Corp. (“Superior”) completed its previously announced acquisition of all the outstanding common shares of Certarus Ltd. (“Certarus”), for a total transaction value in excess of C$1 billion, including the assumption of outstanding senior bank credit and leases.

An industry leader in delivering low carbon energy solutions, Certarus expands Superior’s low carbon energy offering to include compressed natural gas (“CNG”), renewable natural gas (“RNG”) and hydrogen while tapping into an emerging multibillion-dollar addressable customer base.

The transaction, announced December 22, 2022, was financed using a combination of common shares and cash paid to Certarus shareholders for total consideration of approximately C$851 million or C$12.15 per Certarus share. Approximately 48.6 million Superior common shares were issued directly to Certarus shareholders valued at C$498 million and C$353 million in cash was paid to Certarus shareholders, which was drawn from Superior’s expanded C$1.3 billion senior credit facilities. The long-term credit facilities were expanded with a new C$550 million senior secured credit facility with a three-year term, providing increased liquidity to continue to grow the combined company.

Further information can be found Business Wire’s website.

Certarus is a North American leader in providing on-road low carbon energy solutions through a fully integrated CNG, RNG and hydrogen platform.

Superior is a leading North American distributor of propane, compressed natural gas, renewable energy and related products and services, servicing approximately 936,500 customer locations in the U.S. and Canada.