ARS Global has Secured Bridge Financing for the Purchase of Select Assets from Atlantic Coast Pipeline
ARS Global LLC (“ARS Global”)
ARS Global is a leading marketer and distributor of premium midstream assets. ARS Global purchases and resells or works on a consignment basis to resell high-quality midstream assets that become available as a result of project cancellations, scope changes, excess purchases or inventory reduction programs by midstream companies. ARS Global was formed in 2015 and is headquartered in Yukon, Oklahoma.
Hilco Global
Hilco Global is a privately held diversified financial services company and operates as a holding company comprised of over twenty specialized business units that work to help companies understand the value of their assets and then monetize that value. Hilco Global is based in Northbrook, Illinois and has 650 professionals operating on five continents.
Dominion Energy, Inc. (“Dominion”)
Dominion (NYSE: D) produces and distributes electricity and transmits natural gas to both residential and industrial customers. Over 7 million customers in 16 states energize their homes and businesses with electricity or natural gas from Dominion, headquartered in Richmond, Virginia. Dominion employs ~17,000 people and has an electric generating capacity of ~30,000 megawatts. Dominion is committed to sustainable, reliable, affordable and safe energy and to achieving net zero emissions from its power generation and gas infrastructure operations by 2050.
Duke Energy Corporation (“Duke”)
Duke (NYSE: DUK), headquartered in Charlotte, North Carolina, is one of the largest energy holding companies in the U.S. Duke employs ~30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Atlantic Coast Pipeline, LLC (“ACP”)
ACP, a joint venture between Dominion and Duke, was the developer and planned operator of the Atlantic Coast Pipeline, a natural gas pipeline slated to run ~600 miles from West Virginia, through Virginia, to eastern North Carolina. On July 5, 2020, Dominion and Duke announced the cancellation of the Atlantic Coast Pipeline.
PPHB, LP (“PPHB”)
PPHB is an independent investment banking firm providing financial advisory services to clients in the energy equipment, service and related industries: