GenNx360 Capital Partners Announces Miller Environmental Group Inc.’s Acquisition of AB Environmental, Expanding its East Coast Footprint
Portfolio Company News - June 05, 2023
Calverton, New York. June 5, 2023 – GenNx360 Capital Partners announced today that Miller Environmental Group Inc. (“MEG”), a leading provider of environmental and emergency response services, has acquired AB Environmental (“AB”). MEG is a portfolio company of GenNx360 Capital Partners (“GenNx360”), a New York-based private equity firm investing in middle-market businesses. Terms of the deal were not disclosed.
Headquartered in Bohemia, New York, AB has provided environmental response, remediation, transportation, and recycling services throughout the greater New York Metropolitan area since 1980. AB’s New York Department of Environmental Conservation permitted Treatment, Storage and Disposal Facility (TSDF) and complimentary capabilities, when coupled with MEG’s portfolio of premier environmental products and services, will offer the highest value proposition for customers, with full integration of Field Services, Emergency Response, Logistics and Waste Processing capabilities.
With this exciting addition, MEG expands its footprint to include 23 Branch Operations centers, 6 Waste facilities and 3 dedicated Support teams providing best-in-class environmental and response services for clients from coast to coast.
MEG President and CEO, Rudy Streng, said, “We are thrilled to be bringing AB Environmental into the Miller family. Not only are we supplementing our core business with dozens of safe and highly trained professionals, but we are bolstering our waste processing capabilities with their TSDF in Bohemia. AB has been providing quality services to New York and Long Island customers for over 40 years, and clients will benefit from Miller’s larger East Coast footprint and our six TSDFs.”
Latasha Akoma, the GenNx360 Operating Partner on the transaction said, “We are pleased to assist the Miller team to further expand its services and vertically integrate by expanding its waste processing capabilities and more importantly, provide a comprehensive solution to its customer base. We continue to look for additional opportunities to expand MEG's geographic reach, both organically and through additional acquisitions.”
“Our interest in AB Environmental is a continuation of Miller’s strategy to increase the Company’s waste disposal services. Since GenNx360’s investment in 2019, we have tripled the number of branches and built out a network of 6 TSDFs through synergistic acquisitions,” said Pratik Rajeevan, the GenNx360 Principal on the transaction.
About Miller Environmental Group, Inc.
MEG, founded in 1971, is an industry-leading provider of emergency response, environmental remediation, and other industrial services for clients in various industries including marine, rail, oil & gas, transportation, power & utility, and manufacturing. MEG provides services on both an emergency response and scheduled project basis while maintaining an exemplary record for safety. MEG holds the highest Oil Spill Removal Organization (OSRO) classification offered in its area of service. Operating in 30 locations, MEG counts several Fortune 500 companies among its varied client base and proudly holds certification by the National Minority Supplier Development Council (“NMSDC”) as a Minority Business Enterprise (“MBE”).
About GenNx360 Capital Partners
GenNx360 Capital Partners is a private equity firm focused on acquiring middle market businesses. GenNx360 partners with companies having proven and sustainable business models in expanding industries with the objective of implementing and supporting value-enhancing organic and inorganic initiatives to accelerate growth, deliver cost efficiencies, and generate strong financial returns. GenNx360 was founded in 2006 and is headquartered in New York City. For more information on GenNx360 Capital Partners, please visit www.gennx360.com
For media inquiries about this press release, please contact:
GenNx360 Capital Partners
Carmen Rojas, Director of Investor Relations