Rockaway Fuel Terminal (formerly Able Energy Terminal), sold to Sycamore Energy

Rockaway Fuel Terminal (formerly Able Energy Terminal),
Sold to Sycamore Energy
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Baltimore, Maryland– May 15, 2012: 321 Capital Partners, LLC (321 Capital Partners) an-nounced today that it has successfully assisted its client, Northfield Bank, the secured creditor, in selling the rights to take ownership of the Rockaway, NJ Fuel Oil Terminal (formerly known as the Able Energy Terminal) toSycamore Energy. 321 Capital Partner’s Advisory Services Plat-form acted as consultants on the transaction. The financial details of this transaction are not pub-licly disclosed.

Northfield Bank, headquartered in Woodbridge, NJ, is a full-service banking institution offering financial services for personal and commercial banking, retirement planning, wealth management, and much more. Founded in 1887 with assets of $400,000, Northfield has recently reported total assets of $2.0 billion and now operates 24 locations in Staten Island, Brooklyn and New Jersey. Northfield Bank maintains its reputation for strength and stability similar to larger national banks, while remaining close to its roots and giving back to the local communities it has proudly served for 125 years.

‘321 Capital was invaluable to the process of liquidating a difficult asset in a unique way. The sale thru an ‘assignment of bid’ allow for the liquidation without the bank ever taking ownership of the property.”
– Kevin McCloskey, Northfield Bank
321 Capital Partners LLC, headquartered in Baltimore, Maryland, is an international invest-ment banking firm with over 30+ years of experience investing, owning, operating, buying, sell-ing, and consulting over 400 companies, mostly in manufacturing and distribution. 321 Capital Partners provides “creative solutions” to middle market businesses including merger, acquisition, sale, equity or debt financing, and turn-around management. 321 Capital Partners’ principals are industry experts having owned, operated, bought and sold companies across virtually every spectrum of the manufacturing world. Further information is available at www.321capitalpartners.com. ####

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