Vertex Energy to acquire used oil re-refining assets

|About: Vertex Energy, Inc. (VTNR)|By:, SA News Editor

Vertex Energy (VTNR) agrees to acquire assets related to the re-refining and processing of used motor oil and the distribution of fuel oils and base lubricating oils from Omega Holdings for $30.75M in cash, 2M common shares and the assumption of ~$9.7M in capital leases and other liabilities.

VTNR says it will have a combined re-refining capacity of ~110M gallons of used motor oil upon completion of the deal, which is expected to be accretive immediately.