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Refinery Ventures to Acquire Energy Firm Laconic Enterprises
Friday 22 May 2020

Refinery Ventures Corp. has executed a letter of intent to acquire all of the issued and outstanding shares of speciality energy firm Laconic Enterprises LLC to fuel growth by tapping global capital markets, the company said.

Terms of the transaction were not disclosed.

Refinery Ventures Corp. will change its name to Laconic Enterprises LLC, and the management team of Laconic and its board of directors will assume control of the company.

Laconic Enterprises LLC leverages project delivery expertise, global technology sourcing capabilities and integrated finance platform to deliver projects such as crude oil distillation units, large-scale energy efficiency upgrades, and energy storage facilities.

Laconic delivers the appropriate project on a turn-key basis with zero capital expenditure on the part of the client.

Bassett Financial Corp. has facilitated a USD 120m LOC following the company's acquisition of Laconic Enterprises LLC and Refinery Ventures Corp. public offering.

This acquisition is the first stage of a strategic acquisition pipeline that has been formulated in tandem by Bassett Financial Corp. and Laconic Enterprises LLC.

Refinery Ventures Corp. is a venture company that acquires entities in the energy space.

Laconic Enterprises LLC is a speciality energy firm focussed on the development of high-value-add projects designed to solve the most challenging energy availability issues faced by governments and government Sponsored Enterprises globally.
Date Published: 22/05/2020