BALTIMORE–(BUSINESS WIRE)–Origin
International Inc (“Origin”) has completed the acquisition of the
assets of AQ
Group BVBA (“AQ”), a leading full-service provider of mobile
degassing, flaring, scrubber and filtering services for rail, truck,
vessels and tanks.
This represents Origin’s third strategic acquisition and positions the
company as a leading environmental infrastructure and services platform
with an international footprint. In addition to the assets of AQ, Origin
owns and operates a nearly 50-acre liquid bulk storage terminal in
Baltimore, Maryland with rail, truck, vessel loading and unloading
infrastructure, and two of the largest used motor oil and lubricant
collection businesses in the Mid-Atlantic and U.S. Gulf Coast regions.
In aggregate, Origin is one of the largest used motor oil collectors in
the U.S.
The acquisition of AQ was funded through Origin’s cash on hand and a
loan facility from KBC Bank in Belgium.
“We believe AQ will significantly expand Origin’s suite of product and
service offerings as we expand our global environmental services
footprint while providing a solid base of cash flow. AQ also diversifies
the means by which Origin can recover hydrocarbons,” said Nicholas
Myerson, CEO of Origin.
“Origin’s acquisition of AQ demonstrates Origin’s commitment to growing
its environmental services platform and rolling out services worldwide.
We are excited to be part of the overall Origin growth trajectory,” said
Bruno Grimbers, Managing Director of AQ and selling shareholder.
McGrath North Mullin & Kratz, P.C., L.L.O. and Quorum acted as legal
advisors to Origin. Agio acted as legal advisor to the selling
shareholder.
About Origin International
Origin International seeks to acquire and consolidate strategically
located oil terminals, oil processing facilities, and storage assets
throughout North America, Europe and Asia. The firm’s acquisition
strategy focuses on waste oil recovery and recycling segments. For more
information about Origin, visit www.origin-international.us.
For more information on Origin’s largest shareholder, Element Group SA,
visit www.element-alpha.com.
About AQ
AQ is a dynamic hydrocarbon services and recovery company,
internationally active and specialized in degassing of vessels, barges
and shore tanks, railcars, containers, etc. The company can provide a
‘Vapor Return System’ during loading of vessels, barges or trucks as
well as a suite of mobile filtration services. Situated in the port of
Antwerp, AQ and its mobile units can react quickly and work efficiently
worldwide with its operations teams, trucks and mobile units available
on a 24/7 basis.
Contacts
Nicholas Myerson, CEO
Investor Relations and Business Development
[email protected]
