Cronus Partners Announces Acquisition of Environmental Services Company
Cronus Partners LLC is pleased to announce that it acted as financial advisor to Babcock Power Environmental Inc., a Babcock Power Inc. company and a fully integrated environmental company, in its acquisition through a new subsidiary, Geo-Synthetics Systems LLC, of substantially all of the assets of Geo-Synthetics, LLC, a leading installer of geosynthetic materials for industries such as energy, waste disposal, agricultural, and industrial.
“We are excited to expand our reach in the environmental solutions market with this acquisition which is a strong complement to our existing business growth strategy, and Cronus has been essential to its successful completion,” commented Jim Dougherty, President of Babcock Power Environmental.
John Quirk, a Partner at Cronus, added, “Babcock Power Environmental’s industry position will enable it to grow Geo-Synthetics’ business, and we were pleased to be able to bring the experience of the Cronus Environmental Team to bear. Geo-Synthetics has built a business with strong name recognition with customers, including existing customers of Babcock Power Inc.”
Headquartered in Marlborough, MA, Babcock Power Environmental provides fully integrated environmental solutions for utility power plants, waste-to-energy facilities, and large industrial applications worldwide. With more than 40 years of experience in planning, designing, fabricating, constructing and commissioning environmental control systems, the company has developed into one of the market leaders in the field of environmental air pollution control technology.
Headquartered in Waukesha, WI, Geo-Synthetics is a distributor, fabricator, and installer of geosynthetic materials for a broad range of erosion control and containment applications for landfill sites, construction sites, road construction projects and contaminated waterways. The company is one of the country’s largest independent installers of liners for landfill sites, and manages installation projects in all parts of the country. For more than 40 years, it has been providing geosynthetic materials, project field support, and installation expertise where containment, erosion control, and contamination clean-up are needed.
About Cronus Partners
Advising on mergers, acquisitions, divestitures, sales, and private placement financings, Cronus Partners is an independent investment banking firm that provides financial advisory and other investment banking services. Winner of the New York Association for Corporate Growth’s Boutique Investment Bank of the Year Award, the firm has significant experience in advising both publicly and private companies that can benefit from middle-market transactions.
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