Darby International Capital Exits NEOgás Investment

WASHINGTON, DC, March 26th, 2023 – On February 1st, 2023, Darby International Capital LLC ("Darby") successfully exited from NEOgás do Brasil (“NEOgás”, the “Company”) after the Company was acquired by Ultrapar Participações S.A. (“Ultrapar”) through its subsidiary Companhia Ultragaz S.A. (“Ultragaz”). 

 NEOgás, founded in 2000, is a pioneer in the transportation of compressed natural gas (CNG) in Brazil, currently supplying CNG to industrial clients and to the vehicle segment. The Company also developed and maintains customized projects in partnership with natural gas distributors. Darby’s investment in NEOgás in 2017 and 2018 provided critical support for its growth and positioning as a market leader.

"Darby’s understanding of NEOgás’ business and continuous support during the trying times of the lockdowns imposed by the Covid-19 pandemic were vital in allowing the Company to fully recover while enabling a successful outcome for all NEOgás stakeholders.” said Rick Frank, Darby’s CEO.  "Working closely with NEOgás management team to understand the Company´s needs allowed for a customized long term debt solution to provide liquidity and growth that contributed to this successful outcome” said Ricardo Roccia, Darby’s Managing Director & Head of Brazil.

Darby Private Debt Fund III’s exit of its portfolio position in NEOgás reinforces Darby’s long standing track record of providing private debt solutions to middle market companies throughout Latin America.  

About Darby International Capital LLC

Darby International Capital is a leading emerging markets private debt investor with a focus on Latin America and has offices in Washington, DC, Bogotá, Colombia, and São Paulo, Brazil. The firm was created after the team spun off from its previous firm, Darby Overseas Investments, Ltd. (a subsidiary of Franklin Resources, Inc.).

Darby International is not affiliated with Darby Overseas Investments, Ltd., Darby Overseas Partners, L.P., Franklin Resources, Inc. (NYSE: BEN) or any of their affiliates.

For more information, visit www.darbyinternational.com