Ruddy Gregory Advises Vertex Energy on Two Successful Deals - 26 July 2021
Ruddy Gregory is pleased to announce that it has recently advised refining company Vertex Energy (NASDAQ: VTNR) on two major transactions.
In May, the firm advised Vertex Energy in its acquisition of a Mobile refinery in Alabama from Royal Dutch Shell for $75M. This acquisition is regarded to be the largest and most significant transaction completed by Vertex, thus allowing Vertex to become a leading regional supplier of both renewable and conventional products.
The Firm was then selected to advise Vertex Energy in its sale of certain assets to Clean Harbor. The assets are related to Vertex's used motor oil collection and re-refinery business. The sale is for $140M in cash. Contained within the assets of this sale, Clean Harbors' Safety-Kleen subsidiary would obtain the 69M gal/year Marrero used oil refinery located in Louisiana and the 20M gal/year Heartland used oil refinery located in Ohio.