DLA Piper advises PBF Energy on acquisition of hydrogen production plants from Air Products

DLA Piper’s Global Capital Solutions team advised PBF Energy Inc. on its acquisition of two hydrogen production plants from Air Products West Coast Hydrogen LLC. The approximately US$350 million transaction, completed through PBF Energy subsidiary PBF Energy Company LLC, involves facilities located at its Torrance, California refinery.

PBF Energy is one of the largest independent petroleum refiners and suppliers of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States. The seller-financed transaction returns direct operational control of the hydrogen production facilities to the company, strengthening its control over critical refining infrastructure.

“This transaction required a creative, integrated approach to achieve PBF Energy’s strategic and financing objectives,” said Kfir Abutbul, the DLA Piper partner who led the deal team. “Our Capital Solutions team worked closely with PBF Energy to develop a flexible structure that addressed the complexities of the transaction and positioned the company to regain direct control of critical infrastructure.”

In addition to Abutbul (New York), the team included Of Counsel Brady Lambeth (Houston) and Associate Lauren Caterfino (New York).

DLA Piper’s Global Capital Solutions team helps investors and public, sponsor-owned and closely held companies navigate the flow of capital across funds, sponsors, balance sheets, and market cycles. The team advises on a wide range of transactions, including mid-market and large-cap deals, direct lending, hybrid capital, and opportunistic investments. Drawing on interdisciplinary experience in finance, private credit, restructuring, private equity, corporate, and M&A, the team delivers integrated advice across the capital structure to help clients manage risk, optimize returns, and execute complex transactions with confidence.

DLA Piper’s Energy lawyers represent sponsors, project companies, developers, financial institutions and other investors and participants in the renewable, power, oil and gas, nuclear, energy trading, climate change, and data center markets.