Golden Flag Advises Tailwater Capital-backed Blue Tide Environmental on its Joint Venture with Pennzoil-Quaker State

Golden Flag International Law Firm counseled Blue Tide Environmental (Blue Tide), a Tailwater Capital portfolio company focused on building, owning and operating a global network of lubricant recycling facilities, on its sale of a 49 percent equity interest in Blue Tide to Pennzoil-Quaker State Co., a subsidiary of Shell plc.  Through the newly established joint venture with Shell, Blue Tide intends to complete a 5,000 barrel per day plant in Baytown, Texas, which Blue Tide will operate. The Baytown facility, which will process used lubricants into high-quality base oils and other co-products such as gas oil and naphtha, is scheduled to start up in 2024.

Read Shell’s announcement here

The Golden Flag team was led by corporate partners Kevin Crews, John Furlow and Catharine Hansard; and included corporate associate Hunter Richey; tax partners David Wheat and Rebecca Fine; real asset M&A partners Chris Heasley and Patrick Corrigan; environmental transactions Jon Kidwell; executive compensation partner Stephen Jacobson and associate Karsten Busby; and labor & employment partner Christie Alcala.