Compressed natural gas fuel systems maker Quantum Fuel Systems Technologies has been acquired by Douglas Acquisitions, a Northern California-based private equity firm.
The acquired company will operate under the Quantum Fuel Systems name and will continue to provide CNG technology. The acquisition will allow Quantum to grow its business operations and improve customer service, support and product offerings.
Earlier this year, Quantum filed for Chapter 11 bankruptcy and secured a $6 million debtor-in-possession financing commitment from Douglas Acquisitions. The acquisition expands Douglas’ portfolio of automotive investments, which includes KSR International, a manufacturer of products for automobiles, light trucks and ATVs.
Quantum manufactures products for over-the-road CNG heavy-duty vehicles, including its CNG storage system products like the Q-Cab back-of-cab storage modules and the Q-Rail storage modules that are installed horizontally on the truck’s rails.
Quantum is also commercializing its virtual pipeline trailer, a high-capacity transport trailer that makes use of the logistical efficiency of transporting CNG through the company’s Q-Lite CNG storage tanks at 5,000 p.s.i. The trailer is set to debut later in the year.