Sale of Confluence Energy Wood Pellet and Bioproducts Manufacturing Facility
Confluence manufactures wood pellets and related products for the residential and commercial/industrial heating markets, oil and gas markets, and has developed several eco-friendly product lines using a proprietary manufacturing processes for markets in the animal/pet, agricultural/horticultural and energy/environment sectors. Products include cat litter, animal bedding and soil amendments/additives.
The Company’s Walden, Colorado plant is located on a 100 acre site (15,000 square foot building). Current pellet capacity is estimated at 28,000 tons; however, many aspects of the plant were designed for much higher output levels. Management believes current capacity utilization is less than 50%. The plant began operations in 2008 and was constructed at an estimated construction cost in excess of $10 million.
The Company is seeking a buyer for all of the assets of its operating Walden, Colorado plant via a Section 363 bankruptcy sale. As more fully described in the amended Bid Procedures, the Bankruptcy Court has approved the following dates for the sale process:
August 1, 2019 – Submission of Letters of Intent to be Stalking Horse Bidder
August 6, 2019 – Selection of Stalking Horse Bidder
August 20, 2019 – Sign Asset Purchase Agreement with Stalking Horse Bidder
September 6, 2019 – Bid Deadline for Competing Bids
September 9, 2019 – Auction Held
September 13, 2019 – Sale Hearing Held
For additional information, parties with potential interest in participating in the sale process can contact
Bradley Woods & Co. Ltd.:
Daniel Zwelling (1)
Managing Director, Rivermill Advisors
Registered Representative, Bradley Woods & Co. Ltd.
4 Mechanic Street, Suite 211
Natick, MA 01760
(508) 720-0034
dan@rivermilladv.com
(1) Daniel Zwelling conducts investment banking related business (including this engagement) through his association with Bradley Woods & Co. Ltd.
Daniel Zwelling
Rivermill Advisors
+1 508-720-0034
email us here
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