General Environmental Management Retains General Pacific Partners to Focus on Future Waste Water Acquisition Opportunities
05 October 2009 - 9:00PM
Business Wire
General Environmental Management, Inc.
(GEM) (OTCBB: GEVI) today announced that it has retained General
Pacific Partners (GPP), a financial advisory firm, to explore and
assist in the evaluation of wastewater business acquisition
opportunities in California and the Western United States.
“We are pleased to have retained GPP to focus on acquisition
opportunities that can be integrated into GEM’s wastewater business
strategy," said GEM CEO Tim Koziol. “We expect to close the
previously announced SCWW transaction by November 1, 2009 as part
of GEM’s overall strategy to shift the focus of the business from
hazardous waste field services to the fast growing water treatment
and waste-to-energy markets. GPP has been a long time financial
sponsor of GEM and has the know-how and resources necessary to find
and conduct diligence on complimentary wastewater management
companies that can help accelerate GEM’s move into the wastewater
industry.”
“GPP was instrumental in developing the SCWW opportunity for GEM
management and we are excited to have this expanded assignment,”
said GPP Managing Director Kevin O’Connell. “SCWW, with nearly $8
million in very profitable annual revenue, creates a strong
platform for GEM to expand into this market. We believe, based on a
preliminary study of the market opportunity, that through expanding
the existing SCWW revenues and acquiring smaller wastewater
operators, GEM can achieve 20% to 30% annual revenue growth in its
wastewater business division for the next several years.”
“We will be very selective and calculated in our acquisition
strategy,” added Koziol. “Focusing on profitable wastewater
treatment companies, we will work to ensure that all transactions
are accretive as demonstrated with the SCWW acquisition. GEM and
SCWW have seasoned management teams that have the expertise and
ability to scale waste management businesses and we are excited
about the opportunities we see in the marketplace. Further, GPP is
being retained for this project on a success fee basis so this adds
no additional fixed costs to the company at this time.”
About General Environmental Management, Inc.
General Environmental Management, Inc.
(http://www.GeneralEnvironmental.com) is a full-service hazardous
waste management and environmental services firm providing
integrated environmental solutions managed through its proprietary
web-based enterprise software, GEMWare, including the following
service offering: management and transportation of waste; design
and management of on-site waste treatment systems; management of
large remediation projects; response to environmental incidents and
spills; and environmental, health and safety compliance.
Headquartered in Pomona, California, GEM operates five field
service locations and one Treatment, Storage, Disposal facility
(TSDF), servicing all markets in the Western U.S.
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amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements, other than statements of historical facts,
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