Vertex Energy Emerges From Chapter 11 as Privately-Held Company

Vertex Energy has completed its financial restructuring and emerged from chapter 11 as a privately-held company.

• It will operate under the ownership of certain of Vertex’s lenders, including funds managed by BlackRock Financial Management, Highbridge Capital Management, Whitebox Advisors and CrowdOut Capital
• Mark Smith was appointed as new CEO
  • Previously was CEO of Philadelphia Energy Solutions and the President of Western Refining
• New board of five directors
• Houlihan Lokey was financial adviser

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