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07/2023

CHARAH SOLUTIONS acquired by SER CAPITAL PARTNERS

UNITED STATES Industrial Services / TIC (Testing, Inspection, Certification) EV 300M - 700M USD

Context

SER Capital Partners acquired 100% of the outstanding shares of Charah Solutions, transitioning the company from a public listing to private ownership. The strategic rationale for the acquisition lies in aligning Charah’s essential environmental remediation services with SER’s specialized focus on sustainable industrial infrastructure. By taking the company private, SER aims to provide the necessary long-term capital and operational flexibility to execute complex, multi-year remediation projects for utility customers without the volatility of public markets. The transaction allows Charah to leverage SER’s deep expertise in renewable energy and environmental regulation to expand its footprint in the ash pond closure and site redevelopment sectors. This partnership is designed to strengthen Charah's position as a preferred sustainability partner for utilities facing increasing regulatory pressure to decommission legacy coal infrastructure and restore industrial sites for future green energy use.

CHARAH SOLUTIONS, which reported an EBITDA margin of LOGIN in 2022, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level LOGIN as high as the average currently observed in the Business Services sector (11.1x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

Founded in 1987, Charah Solutions is a specialized provider of mission-critical environmental services and byproduct recycling specifically tailored for the power generation industry. The company’s business model revolves around the sustainable management of coal combustion residuals (CCR), assisting utilities and independent power producers with the recycling of ash byproducts. Its value proposition includes technical expertise in ash pond management and closure, landfill construction, structural fill projects, and full-scale power plant remediation and site redevelopment. By integrating specialized engineering with regulatory compliance, the firm enables energy producers to meet stringent environmental standards while repurposing industrial waste into useful materials for the construction industry. As a key player in the transition toward cleaner energy infrastructure, the organization focuses on reducing greenhouse gas emissions through circular economy practices and complex site restoration.

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Historical Financials (USD)

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REFERENCES

Valuation range: EV 300M - 700M USD

Revenue range: 250M - 500M USD

EBITDA range: 5M - 25M USD

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of CHARAH SOLUTIONS by SER CAPITAL PARTNERS are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Acquirer: ser capital partners