PennSpring Capital, a direct investment firm focused on lower middle market opportunities in the Mid-Atlantic region, has made an initial investment in Environmental Remediation and Financials Services. Based in New Jersey, ERFS is a developer of in-situ (subsurface) soil and groundwater remediation technologies.
“We believe the demand for soil and groundwater cleanups is likely to surge in 2022 and beyond, with redevelopment projects resumed and Federally-funded infrastructure overhauls underway,” said PennSpring managing partner Lou Castelli. “We invest in outstanding management, and we have utmost confidence in CEO Mark Vigneri and his seasoned team to execute against this demand. We are excited to support EFRS in all business aspects, and to further advance our Environmental Services investment thesis.”