BioUrja Group has completed its acquisition of the operating businesses of Energy Alloys
HOUSTON, Dec. 2, 2020 /PRNewswire/ -- BioUrja Commodities, LLC, which is part of the BioUrja Group ("BioUrja") of Houston, TX, has completed its acquisition of the operating businesses and the trade name of Energy Alloys. The acquisition was limited to acquiring the equity in those Energy Alloys entities that were not debtors subject to the recent bankruptcy proceedings involving Energy Alloys, LLC and its debtor affiliates. The transaction did not include the shares of the debtor Energy Alloys entities, which are non-operational, or any other remaining assets held directly by debtor Energy Alloys entities.
The BioUrja Group currently owns Hamilton Metals, LLC, a global supplier of corrosion-resistant metal alloy products and tubular goods used for the energy exploration and production sector. With the acquisition of the operating Energy Alloys companies, the combined metals business will provide manufacturing services and supply corrosion resistant alloy products to oilfield services customers in the US, United Kingdom, Dubai, Mexico and Singapore. BioUrja Group intends to rebrand all of its metal alloy operations under the name of BioUrja Energy Alloys.
BioUrja was founded in 2006 by Amit Bhandari and is a leading energy and agricultural commodity trading and supply company, focusing on ethanol, refined products, electric power, metal tubing, grains and animal feed ingredients. The Group is among the largest privately held energy companies in the Houston area, with annual revenues averaging above $3 Billion. The BioUrja Group's financial strength and extensive experience as a global supplier of corrosion-resistant alloy products will provide the acquired Energy Alloys businesses with the tools and resources they need to continue providing a high level of service customized to the individual needs of each client.
Amit Bhandari, Chairman and CEO of BioUrja, stated that: "We are excited to have completed our acquisition of the operating businesses and the trade name of Energy Alloys, which will help us become a dominant player in the corrosion resistant alloy and tubular goods sector of the oil & gas exploration services market. We now can reach into new geographies and provide more services to our growing customer base. We are excited to be among the few growing companies in our sector and are proud of our ability to navigate through the recent troubled economic environment by expanding, rather than contracting. We are honored to have so many great new people join our organization from Energy Alloys."
About the BioUrja Group:
The BioUrja Group is an energy and agricultural commodity trading and supply group that includes BioUrja Trading, West Plains, Hamilton Metals, BioUrja Terminals & Land, and BioUrja Capital, among others. In 2019, the Group acquired Center Oil, and since 2017 has also acquired the former Dakota Plains frac sand & crude terminal in Newtown, North Dakota and the former Murphy Oil NGL terminal in Port Allen, Louisiana. The Group is exploring other acquisitions currently to expand its footprint in related industries.
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