Avista Oil Ag Acquires the Majority of Universal Environmental Services, LLC
Peachtree City, GA – With immediate effect AVISTA OIL AG (“AVISTA”) of Uetze, Germany, buys the membership units in Universal Environmental Services, LLC (“UES”) from MidMark Capital and Navigator Partners. The parties did not disclose the specifics of the transaction.
The result is that UES has become a majority-owned subsidiary of AVISTA. The transaction consolidates AVISTA’s ownership of UES and AVISTA becomes the controlling partner of UES. The McPherson Companies, Inc. of Birmingham, Alabama, which merged its used oil collection business with UES on September 30, 2011, will remain an equity partner in UES.
Bernd Merle, CEO of AVISTA, said “that this is a very important step for AVISTA to strengthen the presence in the important and growing US market. The first project with our subsidiary UES will be the investment in a 30 million gallon used oil re-refinery in Peachtree City, Georgia.”
“We appreciate MidMark and Navigator’s willingness to sell their interests in UES,” said Juan Fritschy, CEO of UES. “This transaction simplifies our organization and aligns our stakeholders’ interests. We can now concentrate our attention on upgrading our collection network and completing our new re-refinery. Construction is underway and we are optimistic about our German parent company’s ability to support us in completing the project as scheduled.”
About Universal Environmental Services
Headquartered in Peachtree City, GA, Universal Environmental Services is a leading collector and processor of used oil from car dealerships, service stations and other industrial customers in the Ohio valley and the southeastern United States. With a fleet of 70 trucks, 5 processing plants and 14 satellite facilities, a storage capacity of 2.6M gallons of used oil and an additional 2.5M gallon tank at the port of Savannah, UES has the capability to collect and process used lubricants all the way from Ohio to Florida.
About AVISTA OIL Group
AVISTA OIL Group is the leading used oil recycling company in Europe. With a successful closed loop business, Avista uses a leading-edge re-refining technology, and operates two used oil re-refineries in Europe: Dansk Olie Genbrug A/S (“DOG”) located in Kalundborg, Denmark, and Mineralöl-Raffinerie Dollbergen GmbH (“MRD”), located in Dollbergen, Germany. AVISTA brings more than 60 years of operational experience to UES, with a value chain of collecting and re-refining used oils and oily liquids, and producing high-quality base oils and lubricants. Compared to producing base oils out of virgin oil, re-refining used oils with AVISTA’s technology produces significantly less CO2 emissions. Just recently, AVISTA introduced its green lubricant line, “AVIeco” (spelling and capitalization correct?), to serve environmentally conscious users.
Contact details UES:
Mr. Juan Fritschy, CEO
411 Dividend Drive
Peachtree City, GA 30269
Direct: +1 (770) 357 0183
Contact details AVISTA:
Mr. Bernd Merle, CEO & Chairman of the Board
31311 Uetze-Dollbergen, Germany
Direct: +49 (5177) 85 600