Prism Spectrum Holdings LLC, which is backed by White Oak, has acquired Raleigh, North Carolina-based Environmental Holdings Group LLC, an environmental and demolition contractor. No financial terms were disclosed.
PITTSBURGH (PRWEB) AUGUST 16, 2018
PRISM Spectrum Holdings, LLC (PRISM), an environmental remediation and demolition contractor based in Pittsburgh, PA, announced today that it has acquired Environmental Holdings Group, LLC (EHG), an environmental and demolition contractor based in Raleigh, NC.
EHG is an industry leader in environmental hazard abatement and demolition, being ranked as one of the top 5 largest abatement firms in the nation by Engineering News Record (ENR) Magazine. Founded in 2001, EHG’s operates throughout the South from 7 offices. With over 6,000 environmental and demolition projects to its credit, EHG has consistently and profitably grown into one of the top providers of services in its field. Known for a remarkable ability to offer unparalleled performance, EHG offers competitive value while adhering to strict safety compliance as signified by its 0.71 EMR.
“EHG’s dedication to safety and operational excellence, along with their substantial geographic reach and infrastructure, is going to bolster PRISM’s industry leadership. We are building a company whose robust technical and operational capacity will be the top in the industry, giving our customers a partner that has impeccable safety standards and experience,” states PRISM CEO Shawn P. Regan.
“We have known PRISM’s leadership since the early 90’s and our collective organizational priorities are a natural fit,” says BJ Fungaroli, CEO of EHG and future COO of PRISM. “We are excited to bring our national and regional award-winning safety, operational and business platforms to aid in the growth of Prism. The combining of PRISM’s and EHG’s approach to demolition and hazard abatement is going to give our customers increased capacity and expertise, while sustaining our legacy of performance and unparalleled safety. We began a relationship search to aid in our next level of growth several years ago. We feel strongly that by executing a shared vision, we will continue to provide further success in the markets we share.”
The acquisition of EHG is part of a strategic expansion by PRISM, supported by its investor group to increase its geographical reach, client diversity and breath of capabilities and solutions it can provide to clients across a broad set of industries including manufacturing, healthcare, real estate development, mining, oil and gas, chemical, utilities, education and government agencies. The investor group is lead by the Atlanta, Georgia-based private equity management form The White Oak Group. Chairman and CEO, Christopher C. Melton, Sr. stated, “We are excited about the combination of Prism and EHG and resulting capabilities it affords clients in the markets we serve. The companies have worked together in the past and share a common ‘customer-first’ culture, while building a great work environment for their employees.”
About The White Oak Group
White Oak is an Atlanta-based private equity management firm focused on making investments in lower middle market, IP-rich businesses primed for growth. With a successful record built on industry expertise and partnerships with exceptional management teams, White Oak invests in Aerospace and Defense, Environmental, and Information Technology companies. For more information, please visit http://www.thewhiteoakgroup.com.
PRISM is a specialty contractor performing asbestos abatement, interior demolition, mold remediation, and disaster restoration. PRISM’s management team consists of individuals each with over 30 years’ experience in the industry and a successful track record of completing thousands of projects throughout the United States. Prism is consistently ranked in the Top 10 of Asbestos Abatement Contractors by ENR Magazine. Project experience spans all market segments including commercial, industrial, manufacturing, and state and federal government. Learn more at http://www.prismresponse.com.