Allied Petrochemical, LLC (“Allied”)

Allied is a leading provider of innovative distillation services and custom chemical contract manufacturing. Allied’s distillation business (often called “re-refining”) recycles waste streams and off-spec fuels into fuel-grade products, enabling a circular economy. Allied’s contract manufacturing segment provides unique reaction chemistry and tolling services for many industrial markets. Within this segment, Allied has been a leading manufacturer of sulfonic acid for over 15 years. The Company was founded in 2000 and is based in Alvin, Texas.

Black Bay Energy Capital, LLC (“Black Bay”)

Black Bay is a private equity firm that invests equity capital in partnership with entrepreneurial management teams who are building high-growth companies in the North American energy and chemical industries. Black Bay’s strategy is to target companies with innovative products and services that help their clients to reduce costs, improve operations, and achieve ESG initiatives. The firm’s objective is to drive success through a relentless commitment to establishing and cultivating a true partnership with portfolio company management teams, and a belief that deeply rooted partnerships generate outsized returns by fostering collaboration and creativity. Black Bay is currently investing out of its second fund and has approximately $565 million of assets under management.

PPHB, LP (“PPHB”)

PPHB is an independent investment banking firm providing financial advisory services to middle market companies that offer products and services to the following end markets: