Cronus Partners Announces Acquisition of Environmental Services Company

SOUTHPORT, Conn.–(BUSINESS WIRE)–#environmental–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 public and private companies
that can benefit from middle-market transactions. Please visit www.CronusPartners.com
and follow us on LinkedIn.

Contacts

Cronus Partners LLC
Andrea Chase, 203-774-9642
Partner
[email protected]