BlackRock acquires majority stake in Environmental 360 Solutions

Environmental 360 Solutions Inc. and investors led by BlackRock Alternatives, through a fund managed by its Diversified Infrastructure business, jointly announced yesterday the closing of a transaction through which BlackRock has acquired a majority interest in E360S.

Donato (Danny) Ardellini, the Company’s Founder and CEO, will continue in his leadership role at E360S and will maintain his significant ownership stake. BlackRock has acquired existing equity interests from the Company’s key institutional investors, including founding investor Almada Inc. (“Almada”), OPSEU Pension Plan Trust Fund (“OPTrust”), and Oaktree Capital Management L.P. (“Oaktree”). One of E360S’ early investors, Canadian Business Growth Fund, has elected to increase its existing equity position co-incident with closing.

BMO Capital Markets acted as financial advisor and Miller Thomson LLP served as legal advisor to E360S in connection with the transaction. RBC Capital Markets acted as financial advisor and Blake, Cassels & Graydon LLP served as legal advisor to BlackRock.

Financial terms of the transaction were not disclosed.