Date Closed

September 15, 2006

Lead Office

Toronto

Value

90.00 Million USD

On September 15, 2006, PEET U.S. Holding Inc. closed the transaction between itself, as seller, and Fortistar Renewables Group LLC, a wholly-owned subsidiary of Fortistar LLC, as buyer, regarding the sale of Gas Recovery Systems, LLC for US$90 million, subject to certain adjustments. Clean Power Income Fund holds all of the debt and preferred equity investments in PEET U.S., the owner of GRS. 

Gas Recovery Systems, LLC is a California company that provides gas to energy companies in North America.

Fortistar, LLC owns and manages a network of power generation projects in the United States and Canada. It operates landfill power plants that utilize greenhouse gas to produce energy; cogeneration facilities that produce electricity and heat by using fuel source; and biomass facilities that generate green/renewable power by utilizing wood waste.

McCarthy Tétrault LLP advised Gas Recovery Systems, the target.