SER Capital Partners, a private investment firm focused on sustainability, has acquired all of the issued and outstanding shares of common stock of Charah Solutions Inc., a provider of environmental services and byproduct recycling to the power generation industry, for $6 per share, from Bernhard Capital Partners.
Based in Louisville, Ky., Charah Solutions works to reduce greenhouse gas emissions for a cleaner energy future. The company assists utilities and independent power producers with all aspects of sustainability managing and recycling ash byproducts from the combustion of coat in the production of electricity. Charah Solutions also designs services for ash pond management and closure, landfill construction, structural fill projects, power plant remediation and site redevelopment.
“Our customers will benefit from combining our industry-leading offerings with SER’s forward-looking platform, long-term vision, and strategic resources,” states Jonathan Batarseh, Charah Solutions president and chief executive officer. “Our close to six hundred employees will also gain from our increased commitment and ability to ensure long-term career and growth opportunities.”
Willkie Farr & Gallagher LLP and Houlihan Lokey are representing the company. SER is represented by Jones Day and Guggenheim Securities LLC. Kirkland & Ellis LLP represents Bernhard Capital Partners.