December 03, 2012

Jenner & Block represented privately held environmental services company Power Fuels and its founder and owner Mark Johnsrud in a merger with Heckmann Corporation that closed on Friday, November 30, 2012.  At the time of its acquisition, Power Fuels, with approximately 1,100 employees and seven district offices, was the largest environmental services company in the Bakken Shale area in North Dakota, a leading unconventional shale oil basin.  

Heckmann operates in more than 55 locations in the United States and has more than 1,500 employees.  Its environmental service offerings include the movement, treatment and disposal of water generated by energy companies involved in the discovery and production of oil and natural gas, as well as collection and recycling services for oily waste products, such as used motor oil, oily wastewater, spent antifreeze, used oil filters and parts washers.  
Heckmann paid $125 million in cash and issued 95 million shares of its common stock to Mr. Johnsrud, who has been appointed Heckmann CEO and Vice Chairman of its Board of Directors.  Heckmann also repaid Power Fuels’ outstanding debt obligations totaling approximately $150 million. 
Leading the Jenner & Block team was Partner Kevin T. Collins, assisted by Corporate Practice Partner Jason M. Casella and Associates Anne M. Choike, Chad T. Nicholson, Michael D. Peng and Stephen M. Woodcock.  Tax Partners Geoffrey M. Davis and Steven R. Meier and Associate Alexandra E. Dowling were also key members of the team.  In addition, a large, multidisciplinary team provided valuable assistance in their practice areas, including Partners Elizabeth A. Davidson, John Flynn, John F. Kinney, Adam Petravicius, Brian S. Scarbrough, Steven M. Siros and Raymond D. Sinnappan; Associates David M. Didion, Genevieve J. Essig, Sarah E. Haddy, Nicholas A. Kurk, Jan A. Larson and Jeffery D. Larson; Of Counsel Vito M. Pacione; Staff Attorney Michael S. Mandell; Senior Paralegal Michael L. Whitchurch; and Legal Secretary Natasa Siveski.