The Andersons, Inc. to Acquire Harvestone Low Carbon Partners for $915 Million

The Andersons, Inc. agreed to acquire Harvestone Low Carbon Partners from Energy Capital Partners for $915 million. HLCP operates three low-carbon ethanol production facilities in North Dakota and Indiana. The Andersons expects to fund the deal with about $300 million from its revolving credit facility and $615 million in new long-term debt, with financing commitments from U.S. Bank and Farm Credit Mid-America. The company projects pro forma long-term debt-to-EBITDA will remain below its 2.5x target.