Amherst Partners, LLC (“Amherst”) is pleased to announce the sale of the Fremont Community Digester (“Fremont”) to Generate Fremont Digester, LLC.
Amherst’s Restructuring Advisory Group acted as courtappointed receiver and exclusive financial advisor in connection with the transaction.
About Fremont Community Digester
Fremont Community Digester is a stateoftheart biodigester plant located in Fremont, Michigan. Fremont uses an anaerobic digestion process to convert organic waste from food processing plants into biogas, which is used to generate electricity that is sold under contract to a large, local utility company. The organic material that remains following the digestion process is used as fertilizer. An attractive source of clean energy production, Fremont benefits from multiple revenue streams, including (i) food processing companies paying to dispose of their organic waste, and (ii) electricity sales to a local utility.
About the Engagement
Fremont Community Digester opened in 2012 to widespread praise as the first large facility in Michigan to take organic waste from food processing companies and turn it into renewable energy. After a brief period of operation, the facility closed in 2015. Later that same year, Amherst was appointed receiver by the Newaygo County Circuit Court. Amherst developed a plan to secure and maintain the facility, and began the process of selling the asset. After contacting numerous domestic and global buyer candidates, Amherst was able to identify a buyer that focuses specifically on renewableenergy businesses and possesses the financial resources necessary to invest in the renovations that will allow Fremont to reopen and resume operations.
Salto Systems is a global leader in the development and manufacture of leading-edge electronic access control solutions, particularly in sectors where security is critical.
The combined entity is able to increase its service offering to its clients through the national network of Staffing Associates and local recruitment capabilities of Holland Contracting in Poland and Romania.
Fernando Cabos, Partner at IMAP Albia Capital Spain, insists that the priority is to ensure that companies carry on, otherwise businesses will be lost. Faced with an economy suffused with soft loans and furlough schemes, he encourages business to chart new routes and execute them.
