Acting through a new subsidiary named Geo-Synthetics Systems LLC, Babcock Power Environmental Inc., a Babcock Power Inc. company, acquired substantially all of the assets of Geo-Synthetics, LLC, an installer of geosynthetic materials for industries such as energy, waste disposal, agricultural and industrial, according to a press release from Babcock’s financial advisor Cronus Partners LLC.
“We are excited to expand our reach in the environmental solutions market with this acquisition, which is a strong complement to our existing business growth strategy,” commented Jim Dougherty, president of Babcock Power Environmental.
John Quirk, a partner at Cronus, said, “Babcock Power Environmental’s industry position will enable it to grow Geo-Synthetics’ business, and we were pleased to be able to bring the experience of the Cronus Environmental Team to bear. Geo-Synthetics has built a business with strong name recognition with customers, including existing customers of Babcock Power Inc.”
Headquartered in Marlborough, Massachusetts, Babcock Power Environmental provides environmental solutions for utility power plants, waste-to-energy facilities and large industrial applications.
Headquartered in Waukesha, Wisconsin, Geo-Synthetics is a distributor, fabricator and installer of geosynthetic materials for a range of erosion control and containment applications for landfill sites, construction sites, road construction projects and contaminated waterways.