ASC completes debt and equity offerings for acquisition of Bayou Wood Pellets
Ashton Stewart Capital has closed the private offering of a combination of debt and equity for Gulf Coast Renewable Energy – a newly formed entity – for the acquisition of Bayou Wood Pellets.
Bayou is a Louisiana, US-based manufacturer of white wood pellets. The debt facility and the preferred equity units were purchased by a US-based private institutional investor. The funds will be used to purchase new equipment and expand the existing plant.
Ashton's MD Jay Tchamanzar said his company was 'pleased to help an established client build a stronger foundation for continued growth'.