Vertex Energy engages investment bank

Published by Poppy Clements, Assistant Editor
Hydrocarbon Engineering, Tuesday, 17 October 2023 08:00

Vertex Energy, a specialty refiner and marketer of high-quality refined products, has announced that it has formally named BofA Securities, Inc. (BofA) as Vertex’s strategic financial advisor to assist with the company's renewable fuels and sustainable products growth strategy.

During this engagement, the company expects to review various potential strategic transaction opportunities aimed at strengthening the balance sheet to support growth acceleration and asset development in line with the company's forward trajectory as an energy transition company. There can be no assurance that this process will result in any transaction. Vertex has not set a timetable for the completion of this process and does not intend to comment further unless or until the Board of Directors has approved a definitive course of action, or it is determined that other disclosure is necessary or appropriate.

Benjamin P. Cowart, President and CEO of Vertex, stated: “Scaling our renewable fuels and sustainable products strategy is a top priority for us. As such, we are tightening our focus on strategic initiatives and considering options that optimally support our long-term vision. We believe BofA has the right tools and expertise to help us transition into this next phase of development for the company."

Read the article online at: https://www.hydrocarbonengineering.com/clean-fuels/17102023/vertex-energy-engages-investment-bank/

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