CHARLOTTE, NORTH CAROLINA (January 29, 2020) – BlackArch Partners (“BlackArch”) is pleased to announce the sale of Pine Environmental Services, LLC (“Pine” or the “Company”), a portfolio company of Saw Mill Capital, to ACON Investments, L.L.C. (“ACON”). Pine, headquartered in Windsor, New Jersey, is a leading specialty provider of environmental, health and safety and asset integrity testing and measurement equipment solutions. The Company’s comprehensive offering of rental equipment and services, consumables and equipment sales and ancillary services support high-frequency and regulatory-driven air, water, soil and asset integrity testing needs. With 38 strategically-located facilities across the United States and Canada, Pine is an established market leader with a diverse and growing network of blue-chip environmental consultant and asset integrity customers.
BlackArch was retained by Saw Mill Capital and management to serve as the Company’s exclusive financial advisor.
Scott Rivard, Partner at Saw Mill Capital, commented: “We chose BlackArch for their combination of deep environmental services, TIC and rental experience. They took the time to understand Pine’s differentiated business model in depth and brought strong underlying industry knowledge and experience. BlackArch followed through on their commitment to provide extensive senior and junior deal team support at every stage of the deal, and their thoughtful positioning and process discipline, speed and thoroughness yielded a great outcome for Saw Mill and our investors.”
Greg Rzonca, Chief Executive Officer at Pine, added: “Simply put, we would not have achieved what we aspired to achieve, without the keen stewardship of the BlackArch deal team. Their genuine appreciation for the vision of management led to our ideal partnership with ACON. Their ability to deeply understand and clearly communicate our business model and unique value proposition, directly contributed to our shareholders realizing a desirable outcome. Throughout the entire process, the BlackArch team continuously earned my confidence, my respect, and ultimately my appreciation.”
Angelo Pinheiro, Pine’s Founder, also added: “Having been through a sale process before, we knew the importance of selecting an advisor that had a deep understanding of our business model, our culture and what truly differentiated Pine within the environmental and asset integrity testing and measurement market. Not only did BlackArch excel in all of these areas, but their extensive preparation, rigorous process management and high attention to detail enabled our team to remain focused on running the business and ultimately delivered a great outcome for Pine’s shareholders and management team.”
About Saw Mill Capital
Based in Briarcliff Manor, New York, Saw Mill Capital is a private equity firm that acquires industrial and commercial service, specialty distribution and manufacturing businesses with enterprise values of $25 million to $200 million. Since 1997, Saw Mill Capital has been partnering with management teams to help successful businesses reach their full potential. For more information, visit www.sawmillcapital.com.
About ACON Investments
ACON Investments, L.L.C. is a Washington, DC-based international private equity investment firm that manages private equity funds and special purpose partnerships that make investments in the United States, Latin America and Europe. Founded in 1996, ACON has responsibility for managing approximately $5.6 billion of capital. ACON has professionals in Washington, DC, Los Angeles, Mexico City, São Paulo and Bogotá. For more information, visit www.aconinvestments.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, North Carolina, 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 350 transactions in 16 countries on 4 continents. For more information, visit www.blackarchpartners.com.
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