For Immediate Release
February 9, 2010
Ewing Bemiss & Co. Announces the Sale of Timberline Energy, LLC to Landfill Energy Systems, LLC
Richmond, Virginia – Ewing Bemiss & Co. is pleased to announce that it represented Mowood, LLC (“Mowood”), a portfolio company of Tortoise Capital Resources Corp. (NYSE: TTO), in the sale of its wholly owned subsidiary Timberline Energy, LLC (“Timberline”) to Landfill Energy Systems, LLC (“LES”). Ewing Bemiss & Co. served as the exclusive financial advisor to Mowood in this transaction.
Timberline is an owner, developer and operator of projects that convert landfill gas to energy. Timberline owns three operating projects; one that converts landfill gas to natural gas, one that generates electricity and one that pipes the gas to an industrial host for direct use in their powerhouse. Timberline also owns the gas rights at ten additional development sites.
LES is one of the largest privately held landfill gas to energy providers in the country. LES currently owns and/or operates 19 electric projects that generate 111 MW of power, one processing plant that can convert 7.5 million scfm of landfill gas into high btu (pipeline quality) gas and two projects that supply medium btu gas directly to end users.
Ewing Bemiss & Co. is an investment bank focused on delivering superior service and optimal results to middle market companies. The Timberline transaction adds to Ewing Bemiss & Co.’s strong experience in the Alternative/Renewable Energy and Environmental Services sectors.
Founded in 1992, Ewing Bemiss & Co. provides merger and acquisition advisory, private capital formation, financial restructuring and strategic advisory services. Ewing Bemiss & Co. provides extensive transaction experience and a strong relationship orientation to clients and is widely recognized for in-depth sector knowledge and expertise in several industries, including Alternative/Renewable Energy and Environmental Services, Healthcare and Business & Technology Services.
For more information, please visit www.ewingbemiss.com or contact:
Mary Bacon, Managing Director
Henry Berling, Managing Director