Long Ridge Energy Terminal Acquisition & Valuation

Long Ridge Energy Terminal was acquired by MARA Holdings for $1.5B in April 2026.

Long Ridge Energy Terminal acquisition price

$1.5B

Acquired by MARA Holdings · Apr 2026

Key investors in Long Ridge Energy Terminal

Long Ridge Energy Terminal Overview

About Long Ridge Energy Terminal

Long Ridge Energy Terminal is an Utica, Ohio-based infrastructure operator owned by Fortress Transportation and Infrastructure Investors. The facility features a 485-megawatt natural gas-fired power plant, natural gas liquids storage with 1.5 million barrels capacity, and transloading terminals for frac sand and NGLs via rail and truck. Commissioned in 2021, it supplies electricity to the PJM grid and supports Appalachian shale production with connectivity to Utica East Ohio Pipeline and CSX rail.


Founded

2017

HQ

United StatesPittsburgh, PA

Status

Acquired

Customer focus

B2B

Revenue model

Product sales

Valuation

$601M (Dec 2019)

Long Ridge Energy Terminal Acquisition

Long Ridge Energy Terminal was acquired by MARA Holdings for $1.5B on 29 April 2026.

MARA Holdings, Inc. (NASDAQ: MARA) has entered into a definitive agreement to acquire Long Ridge Energy & Power LLC and certain related assets from FTAI Infrastructure Inc. (NASDAQ: FIP) for a total transaction value of approximately $1.52 billion before closing adjustments. The deal eliminates $1.16 billion of Long Ridge debt upon closing, with FIP planning to use net proceeds to repay approximately $300 million of parent-level debt.

Long Ridge Energy Terminal acquisition details
AcquirerDateTypePrice
29 Apr 2026Strategic M&A$1.5B

Long Ridge Energy Terminal Valuation

Long Ridge Energy Terminal is currently valued at $601M, based on its secondary sale in December 2019.

The $150M round was led by GCM Grosvenor.

Long Ridge Energy Terminal valuation by funding round

Long Ridge Energy Terminal valuation by funding round
DateStageValuation
Dec 2019Secondary$601M

Long Ridge Energy Terminal Funding History

Long Ridge Energy Terminal has 1 recorded secondary share sale and no primary funding rounds.

Long Ridge Energy Terminal funding rounds

Long Ridge Energy Terminal funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Dec 2019SecondaryGCM Grosvenor (lead)$150M$601MLong Ridge Energy Terminal is the Appalachian Basin’s leading multimodal energy terminal located on 1,660 acres in Hannibal, Ohio, featuring a 485 MW combined cycle gas-fired power plant under construction, nearly 300 acres of available flat land, two barge docks on the Ohio River, a unit train capable loop track, and direct access to Ohio Route 7. On December 23, 2019, GCM Grosvenor, through its Labor Impact Fund, signed a definitive agreement to acquire a 49.9% equity interest in Long Ridge from Fortress Transportation and Infrastructure Investors (FTAI) for $150 million in cash plus an earn-out, implying a $300 million valuation for the asset. The investment supports the ongoing development and construction of the power plant, scheduled for completion by November 2021, with total project costs of $800 million. Prior to the transaction, in February 2019, FTAI executed long-term fixed-price power sale agreements covering ~94% of the plant’s capacity with investment-grade counterparties and secured $588 million in non-recourse financing, along with EPC and equipment agreements. The power plant leverages efficient turbine technology and low-cost natural gas to position it as one of the most economical in the region, earning Power Risk & Finance’s Conventional Power Deal of the Year Award for 2019. Construction utilized signatory contractors under the NABTU-approved National Construction Agreement.

Who has invested in Long Ridge Energy Terminal?

1 investor has backed Long Ridge Energy Terminal across its funding rounds, including GCM Grosvenor.

Lead investors include GCM Grosvenor.


Long Ridge Energy Terminal Investors

Investors in Long Ridge Energy Terminal by funding rounds participated
InvestorHQRoundsRoleFirst check

This data is available for Pro users. Sign up to see all 1 Long Ridge Energy Terminal investors.

Start Free Trial

Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.

Start Free Trial

Long Ridge Energy Terminal Competitors

Long Ridge Energy Terminal competitors include listed companies like Tsakos Energy Navigation, ACEN and Hunan Energy Group, and private ones like Órigo Energia, Energie Steiermark and Huasun Energy.

Public and private companies comparable to Long Ridge Energy Terminal
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Tsakos Energy NavigationGreeceGreecePublicly listed$799M$419M$1.6B3.9x
ACENPhilippinesPhilippinesPublicly listed$502M$145M$1.7B7.7x
Hunan Energy GroupChinaChinaPublicly listed$52M$25M$1.3B-
Órigo EnergiaBrazilSão PauloPrivate--$816M-
Energie SteiermarkAustriaGrazPrivate--$557M-
Huasun EnergyChinaHefeiPrivate--$1.5B-

Long Ridge Energy Terminal Public Comps

Long Ridge Energy Terminal is no longer listed, but its public comps include Econergy, Birlesim Grup Enerji, B.Grimm Power, Navigator Gas, Dorchester Minerals, Natural Resources, CropEnergies, Infortar, North Atlantic Energies and SK Gas.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Econergy$11M($64M)205.8x-(34.8x)-
Birlesim Grup Enerji$31M$15M50.6x-103.3x-
B.Grimm Power$1.7B$399M3.4x3.2x14.3x13.3x
Navigator Gas$587M$295M3.9x4.2x7.7x7.6x
Dorchester Minerals$153M$124M9.1x-11.2x-
Natural Resources$202M$159M7.1x-9.1x-
CropEnergies$5M($41M)270.8x1.1x(35.0x)12.2x
Infortar$2.1B$287M1.3x-9.3x-

This data is available for Pro users. Sign up to see all Long Ridge Energy Terminal competitors and their valuation data.

Start Free Trial

Common questions about Long Ridge Energy Terminal

When was Long Ridge Energy Terminal founded?Long Ridge Energy Terminal was founded in 2017.
Where is Long Ridge Energy Terminal headquartered?Long Ridge Energy Terminal is headquartered in Pittsburgh, PA, United States.
Is Long Ridge Energy Terminal publicly listed?No, Long Ridge Energy Terminal was acquired by MARA Holdings in April 2026.
Who acquired Long Ridge Energy Terminal?Long Ridge Energy Terminal was acquired by MARA Holdings in April 2026.
How much was Long Ridge Energy Terminal acquired for?Long Ridge Energy Terminal was acquired for $1.5B in April 2026.
What is Long Ridge Energy Terminal's valuation?Long Ridge Energy Terminal was last valued at $601M in its secondary sale in December 2019.
Who are Long Ridge Energy Terminal's investors?Long Ridge Energy Terminal's investors include GCM Grosvenor.
Which companies are comparable to Long Ridge Energy Terminal?Companies comparable to Long Ridge Energy Terminal include Tsakos Energy Navigation, ACEN, Hunan Energy Group, Órigo Energia, Energie Steiermark and Huasun Energy.

See companies similar to Long Ridge Energy Terminal

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial