DENVER (November 18, 2022)– Holland & Knight advised Neste in its acquisition of Crimson Renewable Energy Holdings' used cooking oil (UCO) collection and aggregation business. The transaction, announced November 17, includes shares in SeQuential Environmental Services, LLC and Pure, LLC, as well as a UCO processing plant in Salem, Oregon.
Through the transaction, Neste is acquiring a leading UCO collection and recycling business on the U.S. West Coast, covering the collection, logistics and storage of UCO in California, Oregon and Washington. Together with Neste's previous acquisitions of Mahoney Environmental and Agri Trading in the U.S., IH Demeter in the Netherlands and Walco Foods in Ireland, the transaction continues to enhance Neste's global raw materials sourcing platform and supports its aim to serve customers with renewable products.
Finland-based Neste is the world's leading producer of renewable diesel and sustainable aviation fuel produced from waste and residue raw materials.
Holland & Knight Partner Seth Belzley led the firm's representation of Neste. He was assisted by Partners Christine Gay, Linda Allderdice, Eric Rubin, Ashley Phillips, Marne Sussman, Jameson Rice, Douglas Praw, Daniel Barsky and Brandon Bloom, and Associates Alex Weaver, Brandon Palacio, Stephen Pennartz, Melanie Chaewsky, Emily Warfield, Avery Rux and Jessica Kirk.