Platform Partners and Evergreen Industrial Services (“Evergreen” or the “Company”) management retained BlackArch Partners to realize a return on their investment and identify a new partner to further expand Evergreen’s purpose-built platform and support the Company’s ongoing commitment to safety, execution and customer service. BlackArch was selected due to the firm’s significant expertise and experience in the energy and industrial services sectors.
BlackArch designed a highly tailored marketing process that targeted a select group of strategic acquirors. Evergreen was a compelling asset offering a focused suite of complementary solutions, including complex, specialty services tailored to meet regulatory and compliance-driven demands, as well as base services that address the recurring maintenance requirements and perpetual operating needs of its customers. The Company had established a coveted leadership position in the Gulf Coast and West Coast markets and was rapidly ascending as the leading national platform serving blue-chip asset owners and operators. To capitalize on these key differentiators and the outsized growth potential of the Evergreen platform, BlackArch ran a high-touch transaction process focused on the most compelling and aggressive strategic buyers. This highly competitive process resulted in attractive bids and numerous options for Evergreen’s shareholders.
Evergreen received significant interest from multiple parties and was ultimately acquired by The Sterling Group, a Houston, Texas-based private equity firm focused on acquiring controlling interests in basic manufacturing, distribution and industrial services companies.