Heritage-Crystal Clean LLC entered into an asset purchase agreement to acquire the route antifreeze collection and re-distillation business of GlyEco Inc. (OTC Pink:GLYE) for $1.5 million on January 11, 2019. The purchase consideration is payable in cash and subject to adjustment based on the delivered value of the working capital to be determined within 90 days after the closing as well as a $100,000 damage hold back, to be paid to GlyEco within 30 days of the closing. Other than the assumption of loan payments related to certain vehicle financings, no debt or significant liabilities were assumed in the purchase. GlyEco will retain its manufacturing and sales businesses in additives, glycol, and the downstream additized glycol/water performance fluids. As part of the consolidation enabled by this transaction, GlyEco will relocate its headquarters to the site of its glycol and performance fluids operations at Institute, West Virginia. Pursuant to the agreement, GlyEco agreed not to engage in the business being sold within certain geographical territories within the U.S. and the Canadian province of Ontario for a period of five years following the closing date. GlyEco has also agreed to certain other customary employee and customer non-solicitation covenants. GlyEco and Heritage-Crystal Clean have entered into a transition services agreement pursuant to which GlyEco will provide Heritage-Crystal Clean with production services and personnel for two glycol facilities for a period ending 90 days from the closing date, which period may be extended for up to three 30-day periods. The transaction is conditional on Heritage-Crystal Clean having completed all elements of its satisfactory due diligence investigation, all necessary authorizations, consents or approvals of third parties having been obtained and others. GlyEco’s board of directors has approved the agreement. Robinson Brog Leinwand Greene Genovese & Gluck P.C. served as the legal advisor to GlyEco. Heritage-Crystal Clean LLC completed the acquisition of route antifreeze collection and re-distillation business of GlyEco Inc. (OTC Pink:GLYE) on January 11, 2019.