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Announced

Cummins and NPROXX to form a joint venture.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Private

Pending

Single Bidder

Friendly

Joint Venture

hydrogen storage

Majority

United States

Storage Terminals

gas storage

Private Equity

Synopsis

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Cummins, a global technology and power solutions company, and NPROXX, a provider of hydrogen storage and transportation, agreed to form a joint venture for hydrogen storage tanks. Financial terms were not disclosed. "We are thrilled to combine Cummins’ expertise, innovation and commitment to customer success with NPROXX’s leading hydrogen storage technologies," Tom Linebarger, Cummins Chairman and CEO.

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