RES to Receive New Investment from Onex Partners and Continued Investment from KKR
07 Februar 2022 - 10:30PM
Resource Environmental Solutions, LLC (“RES” or “the company”), the
nation’s largest ecological restoration company, today announced
that Onex Partners V, Onex Corporation’s (“Onex”)(TSX:ONEX)
$7.2 billion fund, has agreed to make a significant investment in
RES, together with funds affiliated with the company’s existing
investor, KKR. This investment, made in partnership with
management, is in support of RES’ continued growth and development.
RES’ mission is to restore a resilient earth for
a modern world, project by project. The company supports the public
and private sectors with solutions for environmental mitigation,
stormwater, water quality, and climate and flooding resilience. RES
delivers durable ecological uplift on its sites, based on
science-led design, full delivery, long-term stewardship, and
guaranteed performance.
“We could not be more excited to have these two
firms backing us,” said Darrell Whitley, RES President and CEO. “In
our first 14 years, we’ve proven that ecological restoration can be
trusted to improve and preserve the environment in balance with
human progress. Today, RES is the environmental employer of choice.
With the backing of Onex Partners and KKR, we will continue to
invest in talent and capabilities, and grow into new markets and
new communities. Our access to additional investment capital will
also help us to continue with product line expansion into coastal
resiliency, large scale water quality projects, new mitigation
banks and carbon solutions,” Whitley continued.
Amir Motamedi, a Managing Director of Onex
Partners, said: “RES is the nation’s leading provider of
nature-based solutions and green infrastructure thanks to the
contributions of every team member at the company. With its strong
culture and can-do spirit, we’re confident RES will continue its
growth trajectory both organically and through acquisitions. We are
delighted to be partnered with Darrell, the entire RES team and KKR
during this next chapter.”
Robert Antablin and Ken Mehlman, Co-Heads of KKR
Global Impact, added: “We are thrilled to continue our relationship
with RES and support them, alongside Onex Partners, on their
mission to help communities navigate the impacts of climate change.
While we have made great progress since KKR’s initial investment in
helping to establish RES as an industry leader while growing the
company’s operations, capabilities and team, we are looking forward
to even more growth ahead.”
Elliott Bouillion, Founder and Executive
Chairman, concluded, “I am thrilled to see RES continue its journey
and mission to restore a resilient earth for our modern world. I
believe that Onex Partners and KKR will be formidable partners and
dedicated stewards of our business during the next phase of
ownership. I look forward to working closely with Onex Partners,
KKR, Darrell and the rest of the RES management team as we aim to
take RES to the next level and drive even more growth and
transformation in the years ahead.”
The transaction is anticipated to close in the
first quarter subject to customary conditions and regulatory
approvals. Financial details for the transaction are not being
disclosed at this time.
About RES RES (Resource
Environmental Solutions) is restoring a resilient earth for a
modern world, project by project. As the nation’s largest
ecological restoration company, RES provides environmental
mitigation, stormwater and water quality, and climate and flooding
resilience solutions with a focus on full delivery, long-term
stewardship and guaranteed performance. RES designs, builds, and
sustains sites that preserve the environmental balance, restoring
our land and waters to enhance lives for generations to come.
For more information, visit www.res.us.
About OnexFounded in 1984, Onex
manages and invests capital on behalf of its shareholders,
institutional investors and high net worth clients from around the
world. Onex’ platforms include: Onex Partners, private equity funds
focused on mid- to large-cap opportunities in North America and
Western Europe; ONCAP, private equity funds focused on middle
market and smaller opportunities in North America; Onex Credit,
which manages primarily non-investment grade debt through
tradeable, private and opportunistic credit strategies as well as
actively managed public equity and public credit funds; and Gluskin
Sheff’s wealth management services. In total, as of September 30,
2021, Onex has approximately $47 billion of assets under
management, of which approximately $7.9 billion is its own
investing capital. With offices in Toronto, New York, New Jersey,
Boston and London, Onex and its experienced management teams are
collectively the largest investors across Onex’ platforms.
Onex shares trade on the Toronto Stock Exchange
under the stock symbol ONEX. For more information on Onex, visit
its website at www.onex.com. Onex’ security filings can also be
accessed at www.sedar.com.
About KKRKKR is a leading
global investment firm that offers alternative asset management as
well as capital markets and insurance solutions. KKR aims to
generate attractive investment returns by following a patient and
disciplined investment approach, employing world-class people, and
supporting growth in its portfolio companies and communities. KKR
sponsors investment funds that invest in private equity, credit and
real assets and has strategic partners that manage hedge funds.
KKR’s insurance subsidiaries offer retirement, life and reinsurance
products under the management of The Global Atlantic Financial
Group. References to KKR’s investments may include the activities
of its sponsored funds and insurance subsidiaries. For additional
information about KKR & Co. Inc. (NYSE: KKR), please visit
KKR’s website at www.kkr.com and on Twitter @KKR_Co.
Contacts:
RESGaye DenleyDirector,
Marketinggdenley@res.us+1.303.815.5211Patrick RyanVP, Corporate
Developmentpryan@res.us +1.713.325.7213 |
OnexJill HomenukManaging Director – Shareholder
Relations and Communicationsjhomenuk@onex.com+1.416.362.7711 |
KKRCara Major or Julia KosyginaMedia@kkr.com
+1.212.750.8300 |
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