BlackArch Partners Advises on Sale of Evergreen Industrial Services
CHARLOTTE, N.C. – BlackArch Partners (“BlackArch”) is pleased to announce the sale of Evergreen Industrial Services (“Evergreen” or the “Company”) to The Sterling Group (“Sterling”).
Evergreen, headquartered in La Porte, Texas, is a leading provider of environmental and industrial cleaning solutions to the downstream and midstream energy sectors. The Company offers a focused suite of complementary technically-driven solutions, including complex, specialty services tailored to meet regulatory and compliance-driven demands, as well as base services that address the recurring maintenance requirements and perpetual operating needs of its customers. Evergreen’s service line portfolio includes vapor control and water treatment, tank cleaning, chemical cleaning services, vacuum and hydroexcavation, hydroblasting and logistics services.
BlackArch was retained by Evergreen and Platform Partners to serve as the Company’s exclusive financial advisor to run a highly tailored process with a select group of strategic buyers. The Evergreen transaction builds upon BlackArch’s deep experience and significant momentum in the energy and industrial services sectors, representing market-leading, founder-owned and sponsor-backed growth businesses.
“BlackArch did an outstanding job representing Evergreen,” said Brad Morgan, Executive Vice President and COO of Platform Partners. “We chose BlackArch because of their in-depth experience in the industrial services industry, their relationships with the likely buyers and the senior level attention given to our project. In addition to managing a very efficient process, the BlackArch team took the time to understand what makes Evergreen a unique company and accurately communicated the company’s strengths to the market. We are very pleased with the outcome and look forward to working with BlackArch again in the future.”
Jon Hodges, Founder, CEO, President and Chairman of Evergreen Industrial Services, LLC, said, “Evergreen is a specialty service company that provides industrial cleaning services in the downstream and midstream sectors. Evergreen competes in a $3 billion industry where we primarily operate throughout North America with a heavy focus on the Gulf and West coast. BlackArch did an exceptional job in representing our company. Their staff became a part of our team, and they learned exactly what differentiated us in our industry. I also believe they drove tremendous value to our bidders and ultimately helped us select a great partner for our next platform. I am very pleased with their service and would highly recommend them.”
About Evergreen Industrial Services
Evergreen is a La Porte, Texas-based company with operations throughout the Gulf Coast and West Coast in close proximity to key refining, petrochemical and midstream infrastructure. Founded with a focus on superior service quality and execution certainty, the Company has ascended as a purpose-built national platform serving industry-leading asset owners and operators who rely on Evergreen to perform their most challenging and critical compliance-driven jobs.
About Platform Partners
Platform Partners is a private holding company based in Houston, Texas, that makes investments in middle-market companies with the intent of growing these businesses into industry leaders through a combination of organic and acquisition growth. For more information, please visit https://www.platformllc.com.
About BlackArch Partners
BlackArch Partners is a leading middle-market investment bank offering a full spectrum of advisory services to financial sponsors, private companies and diversified corporations. BlackArch addresses the needs of owner-operators, founders and shareholders of private companies with specialized services that include M&A advisory, strategic advisory and private capital solutions. Headquartered in Charlotte, NC, with offices in Houston, TX, BlackArch features a total of 12 industry-focused practices that cover all sectors of interest to middle-market investors; BlackArch professionals have closed more than 340 transactions in 16 countries on four continents. Please visit our website, blackarchpartners.com, for more details.
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