Alden is a miner and processor of specialty coal marketed primarily to silicon metals manufacturers, while Gatliff owns a coal preparation facility that processes Alden’s coal.
NGP Capital sold the interests for cash proceeds totaling $73.2m and a contingent cash earn-out payment of up to $6.8m payable within three years.
The company said that the contingent payment is dependent upon Alden’s ability to achieve certain production and operating margin levels during the next three years.
NGP Capital is a closed-end, non-diversified management investment company, and it principally invests in energy related private companies.
