ArcLight Announces Sale from the Thorntons Convenience and Mobility Platform

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Jul 13, 2021, 09:00 ET

BOSTON, July 13, 2021 /PRNewswire/ -- ArcLight Capital Partners, LLC ("ArcLight") announced today that an affiliate has entered into an agreement to sell its interest in Thorntons LLC ("Thorntons"), a prominent convenience and mobility company with over 200 convenience stores in the Midwest and Florida, to its joint venture partner bp. The two parties are targeting closing the transaction no later than the fourth quarter of 2021. Kirkland & Ellis LLP served as ArcLight's legal counsel on the transaction.

"ArcLight is pleased to have contributed to Thorntons' success in recent years. This transaction exemplifies ArcLight's ability to play a critical, facilitating role as large energy strategics and incumbents rapidly transition into the future of energy," said George Yong, Managing Director at ArcLight. "We strongly believe that convenience and mobility will be central to accelerating decarbonization and look forward to leading future investments in the space."

About ArcLight

ArcLight is one of the leading energy infrastructure firms. Founded in 2001, the firm helped pioneer an asset-based approach to investing in the energy sector. ArcLight has invested approximately $25 billion in 112 transactions since inception. Based in Boston, the firm's investment team employs a hands-on value creation strategy that utilizes its in-house technical, operational, and commercial specialists, as well as the firm's ~1,500- person asset management affiliate. More information about ArcLight, and a complete list of ArcLight's portfolio companies, can be found at www.arclight.com.

SOURCE ArcLight Capital Partners