The EQT Infrastructure II fund has agreed to sell Baltimore-based Synagro Technologies, Inc., a provider of wastewater biosolids solutions in North America, to a fund managed by Goldman Sachs Merchant Banking Division. Financial terms were not disclosed.
Synagro provides essential biosolids treatment solutions, turning a waste stream into fertilizer products for more than 1,000 municipal and industrial customers across 35 states, according to a statement from EQT. Synagro manages more than 14 million tons of biosolids annually across its portfolio of 24 specialized treatment facilities and the industry’s largest permitted beneficial use land base.
“Partnering with the Synagro management team to develop the company into the industry leading platform has been a fulfilling experience,” said Crosby Cook, partner at EQT Partners. “Synagro’s sustainable business model aligns well with EQT’s ESG goals and we are proud to have been a part of the company's transform