Enviva Partners LP Priced, NYSE: EVA

Riverstone/Carlyle-backed supplier of utility-grade wood pellets.

Industry: Energy

Latest Trade: $28.80 +0.15 (+0.5%)

First Day Return: +7.5%

Return from IPO: +43.3%

Industry: Energy

We are the world’s largest supplier by production capacity of utility-grade wood pellets to major power generators. Since our entry into this business in 2010, we have executed multiple long-term, take-or-pay off-take contracts with creditworthy customers and have built and acquired the production and terminaling capacity necessary to serve them. We are larger than any of our competitors and our existing production constitutes approximately 15% of current global utility-grade wood pellet supply. We own and operate five production plants in the Southeastern U.S. that have a combined wood pellet production capacity of approximately 1.7 million metric tons per year. Two of our production plants are new facilities that we constructed using our templated design and standardized equipment. A third plant, our largest in terms of production capacity, has been in operation since 2008. We also own a dry-bulk, deep-water marine terminal at the Port of Chesapeake that reduces our storage and shiploading costs and enables us to reliably supply our customers. All of our facilities are located in geographic regions with low input costs and favorable transportation logistics. Owning these cost-advantaged, fully-contracted assets in a rapidly expanding industry provides us with a platform to generate stable and growing cash flows that should enable us to increase our per-unit cash distributions over time, which is our primary business objective.
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IPO News for Enviva Partners LP
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IPO Data
IPO File Date 10/28/2014
Offer Price $20.00
Price Range $19.00 - $21.00
Offer Shares (mm) 10.0
Deal Size ($mm) $200
IPO Data
IPO Date 04/28/2015
Offer Price $20.00
Price Range $19.00 - $21.00
Offer Shares (mm) 10.0
Deal Size ($mm) $200
Underwriters
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Company Data
Headquarters Bethesda, MD
Founded 2010
Employees
Website www.envivapartners.com