CIM Group announced last week that it had fully acquired MAS CanAm, LLC’s renewable natural gas-development platform. As part of the transaction, the platform will be renamed Terreva Renewables.
MAS CanAm is an affiliate of MAS Energy, LLC, a developer, owner and operator of landfill gas-based renewable natural gas in the U.S. and Canada. CIM is a real estate and infrastructure owner, operator, lender and developer. Terms of the deal were not disclosed.
“CIM Group’s acquisition of Terreva represents a marquee transaction in the RNG sector that came about as a result of our long-standing commitment to and experience in renewable energy, and our strong, established relationship with MAS Energy,” Avi Shemesh, co-founder and principal at CIM Group, said in a statement.
“We continue to believe RNG is a crucial component of the global energy transition and are excited to contribute as a leader in decarbonization,” Terreva is expected to produce renewable natural gas by the end of this year and will be a large participant in the North American RNG sector, according to CIM.
Baker Botts LLP served as legal advisor to CIM Group in the transaction; MAS Energy was advised by Kirkland & Ellis LLP and Cantor Fitzgerald LP.
