BlackArch Partners is pleased to announce that The Sterling Group has completed the sale of Evergreen North America Industrial Services to Quanta Services.
CHARLOTTE, N.C., Feb. 26, 2024 /PRNewswire-PRWeb/ -- BlackArch Partners ("BlackArch") is pleased to announce that The Sterling Group ("Sterling") has completed the sale of Evergreen North America Industrial Services ("Evergreen" or the "Company") to Quanta Services ("Quanta").
Evergreen, headquartered in La Porte, TX, is a leading provider of specialized and recurring environmental solutions for a diverse range of blue-chip industrial businesses and mission critical infrastructure. Evergreen was created through the combination of family owned, New York based North American Industrial Services and Houston based Evergreen Environmental Services. Since the combination in 2016, Evergreen has continued to expand its client base and national footprint of nested, in-facility customer relationships while delivering superior operational execution and an unrelenting focus on safety. Combined with Quanta Services' leadership in specialty infrastructure solutions, Evergreen is poised to continue its track record of delivering the highest quality of services and support to its customers.
Commenting on the transaction, Jon Hodges, Chief Executive Officer of Evergreen, noted, "I remain very excited about this strategic acquisition of Evergreen North America by Quanta. The growth synergy for Evergreen is enormous. Quanta, like Evergreen, has a long history of providing safe and high-quality services to its customers that meet and exceed expectations."
On working alongside the BlackArch team, Jon added, "We partnered with BlackArch because of their vast knowledge of the industry, their talented staff and their extensive prior knowledge from representing leading companies in the market. I have used BlackArch in a prior transaction and they are a best-in-class company and a true partner."
BlackArch was retained by Evergreen and Sterling to serve as the Company's exclusive financial advisor. The transaction builds upon BlackArch's significant experience and recent momentum in the environmental, facility services and specialty industrial sectors and is a further example of the firm's ability to drive successful outcomes for high-growth, market-leading businesses with differentiated go-to-market strategies.
About Evergreen North America Industrial Services
Evergreen is a leading national provider of specialized environmental and industrial solutions. With a customer-centric culture and employees committed to safety, integrity, accountability and adaptability, Evergreen serves a diverse set of end markets, including refining, power generation, petrochemical, manufacturing, mining, waste-to-energy and pulp & paper at locations throughout North America. Additional information about Evergreen is available at http://www.enais.com.
About The Sterling Group
Founded in 1982, The Sterling Group is a private equity and private credit investment firm that targets investments in basic manufacturing, distribution and industrial services companies. Typical enterprise values of these companies at initial formation range from $100 million to $1 billion. Sterling has sponsored the buyout of 67 platform companies and numerous add-on acquisitions for a total transaction value of over $22 billion. Sterling currently has over $6 billion of assets under management. For further information, please visit http://www.sterling-group.com.
About Quanta Services
Quanta Services is an industry leader in providing specialized infrastructure solutions to the utility, renewable energy, communications, pipeline and energy industries. Quanta's comprehensive services include designing, installing, repairing and maintaining energy and communications infrastructure. With operations throughout the United States, Canada, Australia and select other international markets, Quanta has the manpower, resources and expertise to safely complete projects that are local, regional, national or international in scope. For more information, visit http://www.quantaservices.com.
About BlackArch Partners
BlackArch Partners is a leading middle market investment bank offering a full spectrum of advisory services to financial sponsors, private companies and diversified corporations. BlackArch addresses the needs of owner-operators, founders and shareholders of private companies with specialized services that include M&A advisory, strategic advisory and private capital solutions. Headquartered in Charlotte, NC, BlackArch features a total of 12 industry-focused practices that cover all sectors of interest to middle market investors. BlackArch professionals have closed more than 400 transactions in 16 countries on four continents. To learn more, visit http://www.blackarchpartners.com.
Securities offered through BlackArch Securities LLC. Member FINRA and SIPC. Testimonials may not be representative of the experience of all clients. Testimonials are not a guarantee of future performance or success.
Media Contact
Megan Kimmlingen, BlackArch Partners, 704.414.6341, [email protected], www.blackarchpartners.com
SOURCE BlackArch Partners
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