TSL Express Daily News

High Spirits:

Midwest Ethanol Plant-Turned-World-Class-Distiller Changes Hands
Ocean Park serves as adviser on sale of unique, visionary facility
 
February 3, 2022 – A once-traditional ethanol plant that transformed itself into one of the largest producers of grain-based, high quality specialty alcohols in the U.S. has a new owner. 
 
CC Industries, Inc. (“CCI”) recently announced that it has acquired CIE. Headquartered in Marion, Indiana, CIE operates a world-class, commercial-scale distillery, which serves customers from Fortune 500 spirit, food and fragrance brands to niche artisan craft distilleries.
 
Ocean Park acted as exclusive financial advisor to CIE on the transaction. Financial terms of the transaction were not disclosed. 
 
Originally built as an ethanol plant in 2007, it was retrofitted to produce Grain Neutral Spirits under the leadership of CEO and President Ryan Drook. The Company’s alcohols are highly sought after across various high-value end markets, including spirits, beauty and personal care, food and flavorings, medical-life sciences and other industrial uses. 
 
“Ocean Park was honored to help CIE achieve this important milestone, whose CEO has shown visionary leadership in transforming the business and adapting to market demand,” said Mark Fisler, Ocean Park managing director. “This transaction was an excellent outcome for both parties, and we believe more such transactions could be on the horizon as the ethanol industry continues to consolidate.” 
 
Although now owned by CCI, a family-owned holding company based in Chicago, the leadership and staff at the facility will remain intact.
 
“Ocean Park did an exemplary job in evaluating our strategic alternatives and executing on a comprehensive sale process that generated interest from numerous parties,” Drook said. “Ocean Park’s expertise in M&A transactions, industry knowledge and deep relationships with financial and strategic parties contributed to this successful transaction.” 
 
“We are proud to apply our expertise toward the dynamic high-quality alcohols industry,” added Eric Ouyang, Ocean Park managing director. “CIE has built an extraordinary business that is poised for continued growth under CCI’s ownership.” 
 
About CIE
CIE is a global leader in grain-based, high-quality, specialty alcohols. CIE serves customers from Fortune 500 spirit, food, and fragrance brands to niche artisan craft distilleries. Headquartered in Marion, IN, CIE has global reach through its extensive network of owned, leased, and shared distribution terminals. CIE has 88 employees and was founded in 2004 by the Berry Family.
 
About CC Industries
CC Industries is the Chicago-based holding company for the Crown family’s privately-held companies, including: GILLIG, Great Dane Trailers, J.L. Clark, Miracapo Pizza Company, Provisur Technologies, Riverside Rail, Selig, Southern Devall Group, and Trail King Industries.  The Crown family has a long history of owning and growing industrial businesses.  The family enterprise dates itself to 1919 when Henry Crown and his brothers started Material Service Corporation.
 
About Ocean Park
Ocean Park is a leading boutique investment bank focused on the renewable fuels, energy, food, AgTech and agribusiness sectors. The Ocean Park team has significant operational and transaction experience, including advising on mergers and acquisitions, financings and restructurings. Since its founding in 2004, Ocean Park has successfully completed over 80 transactions and client engagements. Its professionals are based in Los Angeles, Houston, Minneapolis and Omaha. For more information, please visit oceanpk.com or call (310) 670-2093. 
 
Any securities are offered through Ocean Park Securities, LLC, a member of FINRA and SIPC. Ocean Park's professionals are licensed registered representatives of Ocean Park Securities, LLC.