Jenner & Block is advising privately held PowerFuels in a merger with Heckmann Corporation to create a leading environmental services company focused on energy and industrial end-markets. The Wall Street Journal noted in a September 4 article that the cash-and-stock deal is valued at approximately $381 million. PowerFuels is the largest environmental services company in the Bakken Shale area in North Dakota, a leading unconventional shale oil basin. Heckmann is also an environmental services company, focused on water management, treatment, disposal, and environmental solutions for oily waste products.
Both companies do work in the hydraulic fracturing, or fracking, space, a process in which drillers use a high-pressure mixture of water, sand and chemicals to break apart energy-rich rocks.
Leading the Jenner & Block team is Partner Kevin T. Collins, assisted by Corporate Practice Partner Jason M. Casella and Associates Anne M. Choike, Chad T. Nicholson, Michael D. Peng and Stephen M. Woodcock. Tax Partners Geoffrey M. Davis and Steven R. Meier and Associate Alexandra E. Dowling were key members of the team as well.
