Ocean Park served as financial advisor to Atlantic Biodiesel on sale to Verbio

July 18, 2019 |

In Canada, Atlantic Biodiesel Corporation recently closed on the sale of its Canadian biodiesel plant to VERBIO Diesel Canada Corporation. Ocean Park acted as exclusive financial advisor to Atlantic Biodiesel on the transaction.

The purchaser is a wholly owned subsidiary of leading German bioenergy producer VERBIO Vereinigte BioEnergie AG (“VERBIO”). VERBIO first announced that it had entered into a purchase agreement with Atlantic Biodiesel in May, and expected the transaction to close by mid-year.

Financial terms of the transaction were not disclosed. The assets include a 45 million gallon per year biodiesel plant, making it the second-largest operating biodiesel plant in Canada. Located near Welland, Ontario, Canada, the plant sits on approximately 16 acres of land, featuring a tank farm for feedstock, chemicals, and finished product storage. The Desmet Ballestra-design plant can also produce 4 MGPY of high-grade glycerin.

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