SALT LAKE CITY, Jan. 19, 2023 (GLOBE NEWSWIRE) -- Savage, a global provider of supply chain infrastructure and services, is focusing its growth on industrial infrastructure and agriculture projects with the sale of its EnviroServe business. An affiliate of New York-based private equity firm One Rock Capital Partners, LLC acquired EnviroServe and will establish it as an independent company.
“We believe this path will provide the best outcome for both Savage and EnviroServe,” said Savage President and CEO Kirk Aubry. “We have unprecedented growth opportunities in our Infrastructure and Agriculture sectors and will focus our resources to safely and sustainably grow with our Customers and Partners in these two parts of our business.”
Savage’s growth opportunities include expanding its geographic footprint with a focus on strengthening the renewable fuels supply chain, helping Customers and railroad Partners streamline first- and last-mile rail service, and adding to its port and terminal operations across North America.
With the sale to One Rock Capital Partners, Nathan Savage is retiring as Sector President, Environmental at Savage and will continue to lead EnviroServe as Chief Executive Officer, where he’ll play a key role in ensuring the successful transition of the business. He will remain on the Savage Board.
“We’ve built a distinctive environmental services business with a strong future, and we’re confident One Rock’s investment in the business will lead to opportunities for the EnviroServe team to grow and thrive,” said Nathan Savage.
BMO Capital Markets Corp. acted as the exclusive financial advisor to Savage in connection with the EnviroServe transaction. Financial terms of the transaction are undisclosed.
About Savage
In business for 76 years, Savage is a privately held, global provider of supply chain infrastructure and services, with approximately 4,000 Team Members in over 200 locations. Our Customers and Partners count on us to safely and sustainably move and manage what is essential to their business. We enable our Customers and Partners to Feed the World, Power Our Lives and Sustain the Planet. www.savageservices.com
