NEFCO is a leader in designing, building and operating biosolids beneficial-use facilities. • One of the largest M&A deals in Synagro's history. • Establishes clear industry leadership in biosolids thermal-drying and beneficial-use capabilities. • Adds five of the largest facilities and several of the biggest municipal clients in North America. • Creates meaningful business synergies to accelerate long-term profitable growth. • Advances the company's circular-economy business model and carbon-reduction potential.
BALTIMORE, Nov. 29, 2023 /PRNewswire-PRWeb/ -- Synagro Technologies, Inc., the preeminent provider of biosolids and residuals solutions services in North America, today announced that it has acquired New England Fertilizer Company (NEFCO), a Massachusetts-based, privately-held company with customized client solutions and proven biosolids management technologies.
"We welcome the NEFCO team to the Synagro family," said Bob Preston, chief executive officer, Synagro. "I am delighted to add their passionate people, leadership, proven capabilities, and network of facilities to our growing company. As we grow, we have a greater and more positive impact on the environment, society, and people."
The acquisition of NEFCO increases the company's industry leadership in beneficial-use capabilities of biosolids from thermal drying facilities. The complementary portfolios also provide Synagro with additional capacity and an enhanced set of innovative client solutions to meet growing customer needs.
"Joining the Synagro team was a great decision for the combined business as well as providing additional opportunities for our employees," said Larry Bishop, general manager, NEFCO. "We are excited to be part of such a great team, with our proven capabilities working together to provide innovative client solutions."
This is a strategic acquisition in the sustainable growth of Synagro and follows three recent acquisitions all aimed at driving leadership, growth, and long-term financial value.
"We recognize the important role we play in the circular economy, and by executing upon our strategy, we can further accelerate our contribution to divert biosolids and other organics from landfills," said Ben Gilreath, vice president, Corporate Development and Mergers and Acquisitions, Synagro.
About NEFCO
New England Fertilizer Company was created in 1986. NEFCO has replicated their success throughout North America and continued to grow and expand their technical solutions. The facilities utilize a proven biosolids production approach designed to conserve energy, reduce operating costs, and produce a Class A biosolids product suitable for multiple beneficial end-uses. Their ideals set them apart – from carefully chosen leadership and construction partners – to unsurpassed corporate integrity and unflagging dedication to the communities where they do business. NEFCO seeks to be a good neighbor, as well as an industry innovator.
About Synagro
Founded in 1986, Synagro Technologies, Inc. works to turn waste into worth by helping more than 1,000 municipal, industrial water and wastewater facilities, and agricultural partners in North America move toward safer, cleaner and more environmentally beneficial practices. For some, it's simply cleaning the water supply. For others, it's much more – we partner with them to process their waste for compost or energy pellets, creating healthy soil and sequestering carbon in the process. As the largest recycler of organic by-products in North America, we're trusted because we remove risks while keeping the logistics clean. Because we have the most experienced team in the industry, we can offer tailored solutions that ensure no waste goes to waste. Much of our work isn't pretty. But it's a greener world emerging from a cleaner one – worth coming from waste – and we think that's pretty beautiful. Visit http://www.synagro.com to learn more.
NEFCO was acquired in May of 2023 by Synagro Technologies, Inc.
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Media Contact
Kip Cleverley, Synagro Technologies, Inc., 800-370-0035, [email protected], www.synagro.com
SOURCE Synagro Technologies, Inc.
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