Sheehan Phinney Attorneys Assist in $52 Million Sale of New England Wood Pellet

(May 19, 2014, Manchester, NH) – Seven Sheehan Phinney Bass + Green PA attorneys successfully represented the firm’s client, New England Wood Pellet, LLC (NEWP), in its sale to Rentech, Inc. (NASDAQ: RTK), a wood fibre processing, wood pellet production and nitrogen fertilizer manufacturing company based in Los Angeles, CA. In the transaction, Rentech acquired all of the equity interests in NEWP for $34.5 million in cash and the assumption of $13 million of debt. The purchase agreement also calls for an earn-out payment of up to $5 million. The Sheehan Phinney attorneys assisting in the transaction were Robert P. Cheney, Michael J. DrooffColleen LyonsPeter T. Beach,Margaret E. ProbishSusan A. Manchester and Daniel K. Fink.

NEWP is the largest manufacturer of wood pellets in the growing U.S. heating market, with plants in Jaffrey, NH, Schuyler, NY and Deposit, NY. It is one of the largest suppliers to major retailers including Home Depot, Lowe’s, Tractor Supply and Wal-Mart.

Cheney’s practice focuses on regulatory matters, primarily relating to environmental and energy permitting and compliance, governmental affairs, and international trade licensing and compliance. Cheney has been recognized by Chambers USABest Lawyers in America and New England Super Lawyers. He was the 2004 recipient of the New Hampshire Business and Industry Association’s Above and Beyond Award and was recognized by New Hampshire Magazine as one of the top eight environmental lawyers in New Hampshire. Cheney is a member of the American College of Environmental Lawyers and received his B.S. from Cornell University and his J.D. from the University of San Diego School of Law.

Drooff is a corporate attorney whose practice focuses on mergers & acquisitions and equity finance-related transactions. He has an active practice representing closely-held and public companies in privately-negotiated asset purchases and sales, stock purchases and sales and mergers. He has handled public tender offers and going-private transactions for public companies. Drooff has been recognized byChambers USA and New England Super Lawyers and received his B.A., cum laude, from Dartmouth College and his J.D. from the University of Chicago.

Lyons is a corporate attorney who has extensive experience representing established and emerging businesses in commercial and strategic transactions with a focus on mergers and acquisitions and debt and equity financings. She has been recognized by Best Lawyers in America. Lyons received her B.A., cum laude, from Williams College and her J.D., cum laude, from the Fordham University School of Law.

Beach is Chair of the firm’s Taxation Practice Group where his practice covers a broad range of tax matters, including mergers and acquisitions, joint ventures, spin-offs, tax-free reorganizations, workouts, partnerships, S corporations, limited liability companies, international taxation, state and local taxation, tax-exempt organizations and tax-exempt financing. He has been recognized byChambers USABest Lawyers in America and New England Super Lawyers. He received his B.A., summa cum laude, from the Maharishi University of Management and his J.D., magna cum laude, from Cornell University Law School.

Probish’s practice is in the areas of public finance, affordable housing, commercial lending, commercial leasing and real estate. She has been recognized by New England Super Lawyers and received her B.A., from Cornell University and her J.D. from Syracuse University College of Law.

Manchester is Chair of the firm’s Real Estate Practice Group where her practice focuses on commercial real estate and lending. She represents developers before land use bodies and analyzes complex title issues from a technical, as well as practical, viewpoint. Manchester has been recognized by Chambers USABest Lawyers in America andNew England Super Lawyers. She was the 2008 recipient of the YWCA’s Susan B. Anthony Award, the 2012 recipient of the Sheehan Phinney Kimon S. Zachos Pro Bono Achievement Award and was the first women in New Hampshire to be elected to the American College of Real Estate Lawyers. Manchester received her B.A., magna cum laude, from Brown University and her J.D. from Boston University.

Fink’s practice focuses primarily on working with clients to protect and enforce their intellectual property rights and deal with the evolving world of electronic commerce. He was recognized as a ‘Rising Star’ byNew England Super Lawyers and is a 2013 graduate of Leadership Manchester. Fink received his B.A., summa cum laude, from Tufts University and his J.D. from Boston University School of Law.