Black Pearl acquires Wirral biodiesel site
A CAYMAN Island-registered private equity group was behind the acquisition of a 46-acre renewable energy site at Bromborough on the Wirral earlier in the year.
Black Pearl Capital Partners bought the site from London-based D1 Oils. It did not disclose the value of the deal but in a stock market statement released in July D1 said it had sold the facility for £2.6m.
According to Black Pearl the facility was capable of processing up to 100,000 tones of waste oils into a range of bio-diesel products.
A spokesman for the fund confirmed to TheBusinessDesk that the deal was completed in July, but it chose to publicise it yesterday.
In a statement Black Pearl’s chief executive Reza Irani-Kermani said: “Today’s purchase comes on the heels of another renewable energy site we acquired in Castleford, Yorkshire. It allows us to continue an investment strategy in waste processing, waste-to-energy and renewable energy sectors.”
“We expect the site to be operational by mid-2011 thereby creating new employment opportunities in the region.”
Black Pearl and its co-investor and asset manager, Aeternum Capital, are also investigating other opportunities to increase investment at the site and develop a larger range of renewable energy activities.
In September the fund took a majority stake in Kelsdale, a former 142-acre chemical plant in Castleford.
