Ocean Park Advisors advises on sale of biodiesel plant to Tenaska

By Ocean Park Advisors | March 31, 2015

Tenaska, a leading independent energy company, announced that it has acquired the assets of Clinton County Bio Energy in Clinton, Iowa, from a local group of investors. Ocean Park Advisors acted as exclusive financial advisor to CCBE on the sale transaction.

“We are delighted with the successful closing and look forward to Tenaska continuing to serve the local and regional economy,” said Robert Holesinger of the CCBE ownership group. “The OPA team was instrumental in managing the sales process and soliciting interest from various parties. We are also proud that CCBE was the first company to develop in the Lincolnway Air & Rail Park.”

Financial terms of the transaction were not disclosed. The assets include a 10 MMgy biodiesel refinery in Clinton, Iowa, that produces B100 quality biodiesel meeting ASTM D6751 specifications. The plant recently installed a resin-based pretreatment system that allows the use of higher free fatty acid feedstock such as corn oil.

Mark Fisler, Ocean Park managing director, commented, “This sale marks the 18th successful biofuels transaction for Ocean Park Advisors, which firmly positions the firm as a leader in renewable fuels and chemicals investment banking.”      

Located on the Mississippi river, the CCBE plant is situated to support the needs of distributors in both Iowa and Illinois. CCBE has committed to producing superior quality B100 that meets or exceeds ASTM D-6751 specifications and more than 97 percent pure glycerin. 

Omaha, Nebraska-based Tenaska is one of the leading independent power producers in the U.S., with regional offices in Dallas, Denver, Pittsburgh and Calgary and Vancouver, Canada. Forbes magazine consistently ranks Tenaska among the largest privately held U.S. companies. Tenaska and its affiliates have developed and constructed approximately 9,000 megawatts (MW) of natural gas-fueled and renewable power generation, and manage operations for approximately 11,000 MW of power generation consisting of 15 power plants. Tenaska affiliates also market natural gas, electric power, biofuels and related commodities and natural gas fuels, and provide energy risk management services. Tenaska is involved in asset acquisition, natural gas fuel supply and transportation systems, and electric transmission development

Ocean Park Advisors is a corporate finance advisory firm that advises on mergers and acquisitions, financings and restructurings with extensive experience in the biofuels and cleantech industries. Ocean Park Advisors operates a branch office of Stonnington Group LLC, a member of FINRA and SIPC. 


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