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As previously announced, the purchase represents CHS's second ethanol plant acquisition following its acquisition of the former Illinois River Energy located in Rochelle, Illinois in June of 2014.
"We have enjoyed a strong business relationship with CHS as they have been our ethanol and distillers grains marketer. We are proud of what Patriot has accomplished as an independent plant operator and pleased to know the company will be in good hands with CHS going forward." said Gene Griffith, Chairman, CEO and President, Patriot Renewable Fuels.
Ascendant Financial Partners, Inc. served as the exclusive merger and acquisition advisor to Patriot. Ascendant is a leading business and financial advisor serving clients in the agribusiness, food and renewable energy industries. Ascendant Financial Partners is a registered FINRA broker/dealer. "We have worked with Ascendant on various assignments over the years and appreciated their insight and support in helping us successfully work through this process," commented Griffith.
Other professionals who worked on the transaction include:
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