Yudesign | Dreamstime.com
SER Capital Partners, Redwood City, California, has bought Charah Solutions Inc., a Louisville, Kentucky-based provider of environmental services and byproduct recycling to the power generation industry.
Houlihan Lokey, Los Angeles, which advised Charah on the transaction, says the sale closed July 13 for $6 per share or an enterprise value of about $280 million.
Founded in 1987, Charah solves complex environmental challenges and is an industry leader in quality, safety and compliance. The company is committed to reducing greenhouse gas (GHG) emissions for a cleaner energy future.
Charah assists utilities and independent power producers with all aspects of sustainably managing and recycling ash byproducts generated from the combustion of coal in the production of electricity. The company also designs and implements solutions for ash pond management and closure, landfill construction, structural fill projects, power plant remediation and site redevelopment.
As a sustainability leader, Charah says it preserves natural resources in an environmentally conscious manner and is focused on developing innovative solutions for the betterment of the planet, the communities in which it operates, and its customers.
SER is an independent, middle-market private equity firm dedicated to investing in North American sustainable industrial, environmental and renewable businesses.
Over the past two decades, its team members have amassed experience in its targeted sectors as private equity investors and senior executives at both private and public businesses. The firm’s strategy is to create attractive investments underpinned by critical assets while also authentically measuring and improving key sustainability metrics in line with the United Nations’ Principles for Responsible Investing. SER also is committed to aligning interests across its investors, team members, portfolio company management teams and communities.
Houlihan Lokey served as the exclusive financial advisor to Charah and rendered a fairness opinion for the transaction. The deal team assisted in all aspects of structuring, valuing and negotiating the transaction. This transaction highlights Houlihan Lokey’s long-term partnership with Charah and is the seventh time Houlihan Lokey has advised Charah on a successful transaction.
