Enviva Holdings Announces New JV and Acquisition of Wood Pellet Production Plant
Vinson & Elkins advised Enviva Development Holdings, LLC in connection with its new joint venture, Enviva JV Development Company, LLC, with affiliates of The John Hancock Life Insurance Company (U.S.A.) to acquire, develop and construct wood pellet production plants and deep-water marine terminals in the Southeastern United States.
The new joint venture will be managed by Enviva Holdings, LP and supported by the Hancock Renewable Energy Group, a unit of the Hancock Natural Resource Group. In addition, the new joint venture has agreed to acquire a wood pellet production plant in Greenwood, South Carolina, subject to certain customary closing conditions.
The V&E team advising on the JV formation was led by partner Caroline Blitzer Phillips with assistance from associates Jose Acosta, Heather Brocksmith and Matt Hortenstine. Also advising were partner David Peck and associate Neil Clausen; associate Kelly Reddington; and partner Tzvi Werzberger and associates Carter Olson and Matt Kong.
The V&E team advising on the acquisition was led by partner Caroline Blitzer Phillips with assistance from senior associate Brittany Sakowitz and associates Bobak Fatemizadeh and Heather Brocksmith. Also advising were partners Jason McIntosh and Ryan Carney and associate Virginia Blanton; partner Sean Becker; partner Stephen Jacobson and associate Gina Hancock; partner Casey Hopkins; counsel Scot Dixon and Prentiss Cutshaw; partner Neil Imus; associate Kelly Reddington; partner Tzvi Werzberger and associates Carter Olson and Matt Kong; and partner Mark Spradling and associate Luke Edney.
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