KKR is investing in Resource Environmental Solutions LLC (RES). Financial terms weren’t announced. RES provides ecological solutions in the United States.
June 27, 2016 07:00 AM Eastern Daylight Time
HOUSTON & NEW YORK–(BUSINESS WIRE)–Resource Environmental Solutions, LLC (“RES”), a leader in the ecological solutions market, today announced that global investment firm KKR is making a significant investment in RES to support its next phase of growth and development.
RES is the largest and fastest growing dedicated provider of ecological solutions in the United States. The company’s environmental conservation and restoration activities include permitting restored wetlands, streams, and species habitats to preserve land, enhance water quality, and protect wildlife for future generations. RES seeks to provide commercial solutions that help clients manage risk from operations in environmentally sensitive areas. RES delivers a fully integrated suite of ecological services to its clients, providing proactive impact analyses for development projects, helping to streamline the regulatory permitting process, executing and delivering value-added conservation and restoration activities, and limiting liability and regulatory exposure when impacts cannot be avoided. RES’ overarching aim is to deliver client focused solutions that facilitate investment and sustainable economic development, while maintaining environmental stewardship.
Elliott Bouillion, RES President and CEO, commented: “Nine years ago, RES was founded in Louisiana, home to some of the nation’s most fragile and valuable wetlands, to supply wetland restoration solutions. Today, as responsible stewards of land and water, we are delivering a full suite of ecological restoration solutions along the Gulf Coast, across Appalachia, the Mid-Atlantic and in the Southeastern U.S., and most recently in the Midwest. After working with KKR for approximately 18 months, we ultimately concluded that KKR’s resources, expertise, and commitment to our mission make them an ideal partner for our next phase of growth. Our partnership with KKR allows us to complete our nationwide delivery model and evolve into a global supplier of ecological solutions.”
Since the company’s founding in 2007, several hundred companies across numerous industries, including electric transmission and distribution, renewable energy, commercial developers, industrial plants, auto manufacturing, mining, oil & gas, petrochemicals, and local, state and federal governments, have worked with RES to facilitate their largest, most complex development projects. During that time, RES restored and conserved 155 miles of streams and over 40,000 acres of wetlands in environmentally sensitive habitats. In addition, this month, the company announced the completion of its most recent planting season and a significant milestone, with the planting of its ten millionth restorative tree.
Robert Antablin, Head of KKR’s Americas Energy Private Equity team, added, “RES offers critical client-focused solutions that simultaneously facilitate economic development and environmental stewardship. We have developed a wonderful relationship with Elliott and the management team of RES over the past year and a half, and we look forward to backing RES in its next phase of growth.”
KKR is making the investment from its eleventh Americas Private Equity investment fund. RES will participate in KKR’s Green Solutions Platform, which supports environmental initiatives at KKR portfolio companies across three areas: eco-efficiency, eco-innovation, and/or eco-solutions.
Ken Mehlman, Member of KKR who will also be joining the Board of Directors of RES upon close, stated: “This investment builds on our efforts to create value by improving environmental impacts at KKR portfolio companies and also by investing more than $5 billion in companies whose missions are to improve the environment, build human capital, promote health and solve societal problems.”
Financial details for the transaction were not disclosed.
- RES Participates at the White House Roundtable on Conservation Investment in March, 2016
- RES Completes 8th Planting Season: 10 Million Restorative Trees Planted Since 2008
- DNA Fingerprinting Complete: RES’ ERS Nursery Receives Certification for Coastal Restoration Marsh Grasses
- RES has been recognized with a number of industry awards including theEnvironmental Business Journal’s Business Achievement Award, the Northeast Oil and Gas Awards’ General Industry Service Award, and being listed on the 5000 for five consecutive years.
About Resource Environmental Solutions (RES)
RES is the nation’s leading supplier of ecological offsets for unavoidable, project-related impacts to wetlands, streams and habitats. For more information, visit RES at www.res.us.
KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world‐class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners’ capital and brings opportunities to others through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE:KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.