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Enviva pays US$175m for pellet Sampson plant

17.01.2017 − 

On 14 December 2016, US-American Enviva Partners completed the drop-down takeover of the 500,000-t pellet plant of Enviva Wilmington Holdings in Sampson County (North Carolina, USA). As a result of the plant takeover, annual capacity of pellet plants operated by Enviva Partners in the USA totals roughly 2.8m t.

The final purchase price was roughly US$175m and therefore within the price range already expected by Enviva Partners in mid-October 2016. On 17 October, the owner of the pellet plant, Enviva Wilmington Holdings, presented an offer of purchase which had been the subject of negotiations in subsequent weeks. Enviva Wilmington Holdings had been established in 2014 as a joint venture by Enviva Holdings and the financial-services provider John Hancock Life Insurance, and used during the course of the last two years to realise both the pellet plant in Sampson and a warehouse and transhipment terminal in the port of Wilmington.

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