SPH - Suburban Propane partners with Equilibrium Capital for $190M RNG assets deal

• Suburban Propane ( NYSE: SPH ) said Wednesday its unit bought a platform of renewable natural gas assets from Equilibrium Capital for $190 million.
• The acquisition is expected to be accretive to Suburban's distributable cash flow in fiscal 2024.
• In addition to the purchase of two operational biogas facilities, the parties have formed a partnership for working on additional RNG projects.
• The parties have agreed to establish a development company to invest about $155.0 million of future RNG projects, of which Suburban Renewables will own about 70%, and Equilibrium will own the remainder.

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