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Slide #46. Vertex Energy, Inc. — Substantially All of the Assets & Liabilities of Vertex Holdings
Vertex Energy, Inc. (NASDAQ:VTNR)
Substantially All of the Assets & Liabilities of Vertex Holdings
Vertex Energy, Inc. announced that it has signed a definitive unit purchase agreement, with Vertex Holdings, L.P. and B & S Cowart Family L.P. to purchase all of Holdings' assets and liabilities relating to the business of transporting, storing, processing and re-refining petroleum products, crudes and used lubricants. Under the Purchase Agreement Holdings agreed to contribute all of its assets and liabilities relating to the Business, including its wholly-owned operating subsidiaries Cedar Marine Terminals, L.P., Crossroad Carriers, L.P., Vertex Recovery L.P. and H&H Oil, L.P.; and B&S LP agreed to contribute the real-estate associated with H&H Oil's operations held in B&S LP to Vertex Acquisition Sub, LLC and the Company agreed to acquire 100% of the equity interest in Acquired Company.
Vertex Energy is an environmental services company that recycles industrial waste streams and off-specification commercial chemical products. Co. has three segments: Black Oil, which collects and purchases used motor oil directly from third-party generators, aggregates used motor oil, and sells used motor oil to its customers for use as a feedstock or replacement fuel for industrial burners; Refining and Marketing, which aggregates and manages the re-refinement of used motor oil and other petroleum by-products and sells the re-refined products to end customers; and Recovery, which includes a generator solutions company for the proper recovery and management of hydrocarbon streams.
Open the VTNR Page at The Online Investor »
Strong Buy (4.00 out of 4)
(ranked higher than approx. 73% of all stocks covered)
Based on Zacks ABR data;
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