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Vertex Energy Wraps Up Vertex Holdings Deal; Boosts Credit Facility

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September 13, 2012

Vertex Energy Inc. (OTCQB:VTNR) has closed the acquisition of substantially all of the assets and liabilities of Vertex Holdings and entered into a credit agreement with Bank of America N.A. to finance the transaction.

Pursuant to the credit agreement, the lender provided the company $8.5 million in the form of a term loan and agreed to provide the company an additional $10 million revolving credit facility.

For the fiscal year ended December 31, 2011, Vertex Holdings generated revenue and EBITDA of approximately $31 million and $6 million, respectively. For the ...

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