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On the Record · Vertex Energy

Vertex Energy acquisitions, on the record

The businesses Vertex Energy bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.

Deals its annual reports describe

BusinessDealWhenValue
Omega Refining assets
Word for word“In May 2014, we acquired certain of the assets of Omega Refining, LLC ("Omega Refining"), Bango Refining NV, LLC ("Bango Refining") and Omega Holdings Company LLC ("Omega Holdings" and collectively with Omega Refining and Bango Refining, "Omega" or the "sellers") related to (1) the operation of oil re-refineries and, in connection therewith, purchasing used lubricating oils and re-refining such oils into processed oils and other products for the distribution, supply and sale to end-customers and (2) the provision of related products and support services.” 10-K for 2021
acquisitionIn May 2014—
Bango Refining operations
Word for word“The Bango Refining operations were sold in January 2016.” 10-K for 2021
divestitureJanuary 2016—
Myrtle Grove Refinery (MG SPV) interest sold to Tensile-MG
Word for word“At the closing of the MG Share Purchase (on the MG Closing Date), Vertex Operating sold 1,000 of the Class B Units to Tensile-MG in consideration of the payment to it of $1 million by Tensile-MG, and Tensile-MG purchased an additional 3,000 Class B Units directly from MG SPV for $3 million (less Tensile's fees and expenses incurred in connection with the transaction, totaling $850,000).” 10-K for 2021
divestiture—$1 million
Heartland SPV interest sold to Tensile-Heartland
Word for word“Pursuant to the Heartland Share Purchase, Vertex Operating sold Tensile-Heartland the 13,500 Class A Units and 13,500 Class A-1 Preferred Units of Heartland SPV in consideration for $13.5 million.” 10-K for 2021
divestiture—$13.5 million
Mobile refinery from Shell (Equilon Enterprises LLC d/b/a Shell Oil Products US, Shell Oil Company and Shell Chemical LP)
Word for word“The initial base purchase price for the assets is $75 million.” 10-K for 2021
agreed acquisition—The initial base purchase price for the assets is $75 million.
UMO Business (Marrero and Heartland used oil refineries, H&H and Heartland UMO collections business, East Texas recycling facility, Baytown lease rights) to Safety-Kleen Systems, Inc.
Word for word“The initial base purchase price for the assets was $140 million, which is subject to customary adjustments to account for working capital, taxes and assumed liabilities.” 10-K for 2021
agreed divestiture—The initial base purchase price for the assets was $140 million
Myrtle Grove SPV 15% noncontrolling interest (MG SPV) from Tensile-MG
Word for word“As a result, the Company acquired 100% of MG SPV, which in turn owns the Company's Belle Chasse, Louisiana, re-refining complex.” 10-K for 2022
acquisition——
Heartland Assets and Operations (HPRM LLC) sold to GFL Environmental Services USA, Inc.
Word for word“On February 1, 2023, HPRM LLC ("HPRM"), which is indirectly wholly-owned by the Company, entered into a Sale and Purchase Agreement (the "Sale Agreement") with GFL Environmental Services USA, Inc.” 10-K for 2022
agreed divestitureOn February 1, 2023—
Crystal Energy, LLC
Word for word“Upon the closing of the acquisition, Crystal Energy became a wholly-owned subsidiary of Vertex Operating.” 10-K for 2023
acquisition——
15% noncontrolling interest of Vertex Refining Myrtle Grove LLC
Word for word“As a result, the Company acquired 100% of MG SPV, which in turn owns the Company’s Belle Chasse, Louisiana, re-refining complex.” 10-K for 2023
acquisition——
As filedReported in the company's financial data (XBRL), each linked to its filing
Fiscal year endedCash paid for acquisitions (net of cash acquired)Cash received from selling businesses
2019-12-31$0—
2020-12-31$1.8 million—
2021-12-31−$2,000$0
2022-12-31$227.5 million$0
2023-12-31$7.8 million$92 million

Deal filings since 2016

Read from Vertex Energy’s annual reports (10-K for 2023, 10-K for 2022, 10-K for 2021) and the financial data it files with the SEC, as of 2024-03-07. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.