Origin International Inc (“Origin”) has completed the acquisition of the assets of AQ Group BVBA (“AQ”), a leading full-service provider of mobile degassing, flaring, scrubber and filtering services for rail, truck, vessels and tanks.
"Origin’s acquisition of AQ demonstrates Origin’s commitment to growing its environmental services platform and rolling out services worldwide. We are excited to be part of the overall Origin growth trajectory"
This represents Origin’s third strategic acquisition and positions the company as a leading environmental infrastructure and services platform with an international footprint. In addition to the assets of AQ, Origin owns and operates a nearly 50-acre liquid bulk storage terminal in Baltimore, Maryland with rail, truck, vessel loading and unloading infrastructure, and two of the largest used motor oil and lubricant collection businesses in the Mid-Atlantic and U.S. Gulf Coast regions. In aggregate, Origin is one of the largest used motor oil collectors in the U.S.
The acquisition of AQ was funded through Origin’s cash on hand and a loan facility from KBC Bank in Belgium.
"We believe AQ will significantly expand Origin’s suite of product and service offerings as we expand our global environmental services footprint while providing a solid base of cash flow. AQ also diversifies the means by which Origin can recover hydrocarbons,” said Nicholas Myerson, CEO of Origin.
"Origin’s acquisition of AQ demonstrates Origin’s commitment to growing its environmental services platform and rolling out services worldwide. We are excited to be part of the overall Origin growth trajectory,” said Bruno Grimbers, Managing Director of AQ and selling shareholder.
McGrath North Mullin & Kratz, P.C., L.L.O. and Quorum acted as legal advisors to Origin. Agio acted as legal advisor to the selling shareholder.
About Origin International
Origin International seeks to acquire and consolidate strategically located oil terminals, oil processing facilities, and storage assets throughout North America, Europe and Asia. The firm’s acquisition strategy focuses on waste oil recovery and recycling segments. For more information about Origin, visit www.origin-international.us. For more information on Origin’s largest shareholder, Element Group SA, visit www.element-alpha.com.
AQ is a dynamic hydrocarbon services and recovery company, internationally active and specialized in degassing of vessels, barges and shore tanks, railcars, containers, etc. The company can provide a ‘Vapor Return System’ during loading of vessels, barges or trucks as well as a suite of mobile filtration services. Situated in the port of Antwerp, AQ and its mobile units can react quickly and work efficiently worldwide with its operations teams, trucks and mobile units available on a 24/7 basis.
Nicholas Myerson, CEO
Investor Relations and Business Development