SALT LAKE CITY, Nov. 18, 2021 (GLOBE NEWSWIRE) -- EnergySolutions (the “Company”), today announced that current shareholder TriArtisan Capital Advisors LLC (“TriArtisan”) has signed a definitive agreement to acquire the remaining ownership interest in the Company from its current majority owner ECP. Terms of the transaction were not disclosed.
EnergySolutions, headquartered in Salt Lake City, Utah, is a leading international nuclear services company that provides integrated services and solutions to the nuclear industry, and owns state-of-the-art facilities to safely recycle, process and dispose of nuclear material.
EnergySolutions CEO Ken Robuck, said “We are delighted that TriArtisan has made a substantial additional investment in the Company to become our majority owner, and we look forward to continuing our close partnership with them. Our management team and I are excited to continue seamlessly executing on the current business plan.”
TriArtisan Co-Founding Partner, Gerald Cromack, commented “We are very pleased to increase our investment in EnergySolutions in support of Ken and his management team. Our incremental investment is intended to provide the Company long term stability of ownership and reflects our belief that EnergySolutions is uniquely positioned to take advantage of the rapidly growing nuclear utility, commercial and government waste management and decommissioning markets.”
ECP has been the majority owner of EnergySolutions since 2013 and in 2018 sold a substantial minority ownership interest to TriArtisan. The transaction is subject to regulatory approval and other closing conditions.
“We are grateful for the excellent partnership we have had with Ken and the entire EnergySolutions team, who have driven significant growth across the business and positioned the Company for long-term success, over the last eight years,” said Tyler Reeder, ECP Managing Partner. “We are confident that EnergySolutions will continue to succeed and reach new heights under TriArtisan’s leadership.”
Ropes & Gray LLP is acting as counsel to TriArtisan and Latham & Watkins LLP is acting as counsel to ECP and EnergySolutions.
About EnergySolutions
EnergySolutions offers customers a full range of integrated services and solutions, including nuclear operations, characterization, decommissioning, decontamination, site closure, transportation, nuclear materials management, processing, recycling, and disposition of nuclear waste, and research and engineering services across the nuclear fuel cycle. For additional information about EnergySolutions visit www.energysolutions.com.
About TriArtisan Capital Advisors
TriArtisan Capital Advisors is a New York-based middle market private equity investing firm which invests in companies requiring a broad range of investment needs. TriArtisan partners with world class management teams to support them in building their businesses and achieve attractive returns for its institutional and management partners. For more information, please visit the firm's website at www.triartisan.com.
About ECP
ECP, founded in 2005, is a leading investor across energy transition and decarbonization infrastructure assets, including power generation, renewables and storage solutions, sustainability‐linked infrastructure and customer solutions facilitating the energy transition. The ECP team, comprised of 55 people with 500 years of collective industry experience, deep expertise and extensive relationships, has consummated more than 60 transactions over the last 10 years, representing more than $45 billion of enterprise value. For more information, please visit the firm’s website at www.ecpgp.com.
For additional information about this announcement please contact Mark Walker at mwalker@energysolutions.com or 801- 231 -9194.
