Enviva Partners to acquire Enviva Holdings from Riverstone Holdings for $870m.

Enviva Partners, a firm that manufactures processed biomass fuel, agreed to acquire Enviva Holdings, a portfolio of wood pellet production plants and marine export terminals, from Riverstone Holdings for $870m. “We are very excited about the highly accretive benefits that Enviva’s simplification transaction and conversion brings to our unitholders. By eliminating the IDRs, significantly reducing the cost of upcoming investments in fully contracted assets, and eliminating the barriers to institutional ownership that can result from a partnership’s tax structure, we believe we can dramatically reduce Enviva’s cost of capital and unlock significant value while simultaneously creating a sustainable structure for long-term value creation," John Keppler, Enviva Chairman and CEO.