GenNx360 Capital Partners Announces Acquisition of Miller Environmental Group, Inc.
Portfolio Company News - March 20, 2019
New York, NY – March 20, 2019 – GenNx360 Capital Partners (“GenNx360”) is pleased to announce that it has acquired a majority interest in Miller Environmental Group Inc. (“MEG” or “the Company”).
Based in Calverton, New York, MEG was founded in 1971 to service the utility, transportation and petrochemical industries. Through growth and diversification, MEG has remained at the forefront of the environmental services industry by delivering exceptional customer service in the areas of emergency response, waste transportation and disposal, remediation, and industrial as well as marine services. More recently, MEG has acquired a transfer, storage and disposal facility to better serve its clients and is permitted to process regulated non-hazardous liquid and solid wastes.
“We chose GenNx360 as our partner because we appreciated their specialization in the industrial sector and saw they would be a great match for MEG,” said Mark Miller, MEG’s Owner/President/CEO at the time the transaction closed. “GenNx360 has an extremely talented team, many of whom have solid technical and operational backgrounds. These folks 'get' operations-oriented companies and speak our language. We see numerous exciting growth avenues and look forward to accelerating those initiatives leveraging GenNx360’s expertise as MEG enters a new chapter of growth under their new ownership.”
Mark Miller will continue as a member of MEG’s Board of Directors and will be exiting from the day to day operations of the Company. Effectively immediately, Jerry Coogan has been appointed President and CEO and George Wallace is Executive Vice President.
Matt Guenther, the GenNx360 Managing Partner who led the transaction said, “We are pleased to make this investment in MEG. We recognized the Company as a leader in its sector and believe they are well-positioned to capitalize on the increasing demand for differentiated environmental services. We look forward to working with MEG’s strong, experienced management team and to broaden its offerings through organic growth and strategic add-on acquisitions to expand its geographic reach.”
About GenNx360 Capital Partners
GenNx360 Capital Partners is a private equity firm focused on acquiring middle market business services and industrial companies. We invest in companies with proven and sustainable business models in expanding industries with the objective of implementing the required operating changes to deliver cost efficiencies, accelerate growth, and generate strong financial returns. Target industries include industrial machinery and components, logistics and supply chain solutions, industrial and environmental services, food and agricultural products and services, infrastructure equipment and services, specialty chemicals, packaging, and aerospace and defense. GenNx360 was founded in 2006 and is headquartered in New York City. For more information on GenNx360 Capital Partners, please visit http://www.gennx360.com.
For media inquiries about this press release, please contact:
GenNx360 Capital Partners
Carmen Rojas, Director of Investor Relations
Tel: +1 212.257.6772