Gopher Resource LLC of Eagan, Minn., announced its agreement to be acquired by Energy Capital Partners (ECP), a private equity firm based in New Jersey. The transaction is expected to be finalized on March 6, 2018, at which point Gopher Resource would join an existing collection of energy-related companies owned by ECP.
Jeffrey Jacobsen, CEO of Gopher Resource, said in a statement that he doesn’t expect any changes in the Gopher Resource personnel or daily operations.
“We’re very excited about the synergy of joining Energy Capital Partners. They understand our business and recognize its strong potential for growth,” said Jacobsen in a statement. “ECP has the ability to take Gopher Resource – the company and its employees – to the next level of success.”
The two companies have reportedly been in talks for some time, and Jacobsen cited in a statement Gopher Resource’s performance and growth in the battery industry as reasons for ECP’s interest.