Lakeside Energy LLC, an energy investor backed by private-equity firm American Securities LLC, acquired a stake in closely held InEnTec Inc. after exchanging its holding in a joint venture with the company.
Lakeside, based in Chicago, acquired the stake through an “equity for equity exchange” of its ownership in joint venture InEnTec Chemical LLC, InEnTec said in an e-mailed statement. Terms weren’t disclosed. The venture develops systems at chemical manufacturing sites that process waste into reusable chemicals or gases used as fuel for steam generation.
The deal follows a similar one executed with Waste Management Inc. (WM:US) in October, in which the company bought a stake in InEnTec after exchanging its holding in joint venture S4 Energy Solutions LLC. The transactions make InEnTec, based in Bend, Oregon, sole owner of both joint ventures and their operating projects, according to the statement.
InEnTec Chemical since 2009 has operated a facility at Dow Corning Corp.’s silicon materials plant in Midland, Michigan.
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