Dallas-based private equity firm Tailwater Capital announced a partnership with Ash Creek Renewables, a Connecticut company that provides renewable fuel feedstock marketing, distribution, pretreatment and logistics operations in North America.
A dollar amount, timeline and other specifics of the partnership were not disclosed in the announcement.
Tailwater has raised more than $4.4 billion in committed capital since its inception, and the team has executed more than 100 transactions representing more than $23 billion in value.
The U.S. Department of Energy defines low carbon feedstocks as bio-based feedstocks and end-of-life materials like scrap steel and recycled plastics, according to the U.S. Department of Energy. According to Ash Creek’s website, its biofuels come from vegetable oils, animal fats and waste oils such as used cooking oil and yellow grease and Next Gen Crop Oils, camelina, carinata and hemp.
“We are thrilled to partner with Tailwater as we embark on this exciting new chapter,” said Ash Creek CEO John Cusick. “Pairing Ash Creek’s deep industry knowledge, capabilities and multi-decade relationships in the renewable fuels industry with Tailwater’s experience in downstream-adjacent infrastructure creates an ideal partnership to execute our strategy."
Cusick has more than 20 years of experience in the low carbon fuels sector. He previously was an owner of The Jacobsen, the leading consultancy for the renewable fuels industry.
“Ash Creek will make an incredible addition to our portfolio and aligns well with our growth infrastructure expertise that has been developed through over a decade of investing in the downstream-adjacent infrastructure, renewable fuels, and logistics sectors,” said Edward Herring, co-founder and managing partner of Tailwater. “We are excited to partner with Ash Creek as they continue to develop meaningful solutions for renewable fuel producers.”
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