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Envirosystems to benefit from investment from TorQuest Partners
TorQuest Partners announced this week that it has partnered with management and other co-investors to acquire a majority interest in Envirosystems, from Thornridge Holdings, a privately held investment firm.
Headquartered in Dartmouth, Nova Scotia, Envirosystems is one of the fastest growing industrial services organisations in North America with over 1,000 employees in more than 40 locations throughout Canada and the US. Its services include catalyst changeout, chemical cleaning, dredging, high pressure cleaning, hydro-excavation, mobile spent caustic treatment, waste disposal/treatment and vacuum services.
Eric Berke, Managing Partner at TorQuest says: "We are thrilled to partner with Mike Ryan, President and CEO of Envirosystems, and his highly experienced management team, and to support them in the next chapter of Envirosystems' growth."
Mike Ryan is equally delighted, saying: "We are excited to be moving forward with TorQuest, to augment the continued commitment Thornridge Holdings has provided to Envirosystems.
"Thornridge gave me and my team the opportunity to participate as equity partners and now TorQuest will bring financial resources and business expertise, and a commitment to supporting our continued profitable growth, both organically and through acquisitions.
"They share our vision of becoming the North American leader in safety, quality and performance by investing in our people and ensuring innovative customer service."
David Hennigar, Chairman of Thornridge Holdings, adds: "Our family has been invested in Envirosystems since it started almost 20 years ago. We share Mike's enthusiasm about the tremendous benefits TorQuest adds to this already successful business, and we welcome a number of senior managers of the business as our shareholder partners."
12th March 2015