April 20, 2023
Willkie represented Charah Solutions, Inc., a leading provider of environmental services and byproduct recycling to the power generation industry, in connection with its acquisition by SER Capital Partners, a private investment firm focused on sustainable investment.
On April 17, Charah Solutions announced that it entered into a definitive agreement with SER Capital Partners to acquire all of the issued and outstanding shares of common stock of the company for $6.00 per share. Additionally, under the proposed transaction all of the issued and outstanding shares of Series A and Series B preferred stock of the company will be redeemed by Charah Solutions.
Concurrently with the execution of the merger agreement, SER, Charah Solutions and Bernhard Capital Partners (BCP), the company's largest equity holder, entered into a voting and support agreement, pursuant to which BCP agreed to, among other things, vote its shares of capital stock in favor of the transaction.
Based in Louisville, Kentucky, Charah Solutions assists utilities and independent power producers with all aspects of sustainably managing and recycling ash byproducts generated from the combustion of coal in the production of electricity. The company also designs and implements solutions for ash pond management and closure, landfill construction, structural fill projects, power plant remediation and site redevelopment.
SER Capital Partners is an independent, middle-market private equity firm dedicated to investing in North American sustainable industrial, environmental and renewable businesses.
The Willkie team was led by partners Brian Lennon, Debra Sinclair, Justin Sommerkamp and Andrew Thomison.
On April 17, Charah Solutions announced that it entered into a definitive agreement with SER Capital Partners to acquire all of the issued and outstanding shares of common stock of the company for $6.00 per share. Additionally, under the proposed transaction all of the issued and outstanding shares of Series A and Series B preferred stock of the company will be redeemed by Charah Solutions.
Concurrently with the execution of the merger agreement, SER, Charah Solutions and Bernhard Capital Partners (BCP), the company's largest equity holder, entered into a voting and support agreement, pursuant to which BCP agreed to, among other things, vote its shares of capital stock in favor of the transaction.
Based in Louisville, Kentucky, Charah Solutions assists utilities and independent power producers with all aspects of sustainably managing and recycling ash byproducts generated from the combustion of coal in the production of electricity. The company also designs and implements solutions for ash pond management and closure, landfill construction, structural fill projects, power plant remediation and site redevelopment.
SER Capital Partners is an independent, middle-market private equity firm dedicated to investing in North American sustainable industrial, environmental and renewable businesses.
The Willkie team was led by partners Brian Lennon, Debra Sinclair, Justin Sommerkamp and Andrew Thomison.
