Clients

A Renewable Energy Company
Serving as the outsourced financial planning group

Overview

In late spring of 2008, a newΒ holding company (Holdco) was created from the merger of a motor oil re-refinery acquired from a major oil company, a lubricant blending company, and an independent automotive lubricant sales and marketing company. The owners of Holdco are committed to developing their new company into the premier independent lube oil re-refining, blending and marketing business in North America.

Challenge

From the outset, Holdco’s operations met or exceeded growth and profit expectations, and the rapid growth drove the need for credit expansion. Meanwhile, Holdco was frequently presented with opportunities to acquire re-refineries, blenders, and marketing assets. As a nascent company, Holdco lacked the necessary expertise to build its own financial planning and corporate development departments; it still required the expertise and resources of an organization with experience building financial models, liaising with banks and examining potential growth opportunities.

Republic Partners’ Solution

Holdco hired Republic Partners to develop financial models and projections for its businesses, create capital budgets, work with banks to ensure that its capital requirements are met, and assess organic development and acquisition opportunities. Over the past three years, Republic Partners has assisted Holdco with a number of undertakings, including an expansion of its credit facility, the acquisition of a West Coast re-refinery, negotiations with a major Spanish conglomerate to build a joint venture re-refinery on the East Coast, acquisition of an East Coast lubricants blender, formation of a JV to build a re-refinery on the West Coast, and examination of dozens of acquisition opportunities that ranged in value from $1 to $250 million. In 2011, Holdco reported record profits and the company is on track to become North America’s premier independent lube oil re-refining, blending and marketing business. Republic Partners continues to serve Holdco as an integral part of its finance team.

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