P&M Corporate Finance, LLC (“PMCF”) is pleased to announce that it served as the exclusive investment banker to Western States Reclamation (“WSR” or the “Company”) in its sale to Strength Capital Partners (“Strength Capital”).
Headquartered in Frederick, CO, WSR is an environmental services and specialty civil contracting company with a focus on projects involving the preservation and protection of water resources. The Company provides land reclamation & restoration, landscape & irrigation, waterway & habitat restoration, stormwater management, and heavy civil contracting services to public and private clients across the Western United States. The family-owned business was founded by David and Elizabeth Chenoweth in 1983 and has deep roots throughout Colorado and the Rocky Mountain Region.
Strength Capital is a private investment company with a primary focus on investments in manufacturing, distribution, infrastructure, and industrial services. Strength Captial was founded in 2000 and has offices in Birmingham, MI, Cincinnati, OH, and Denver, CO.
WSR selected PMCF to serve as the exclusive financial advisor and investment banker for the transaction. “The PMCF team of Adams Price, Jayson Gitt, and Corey Schreiber were highly effective in the sale of our 39-year-old environmental contracting company,” remarked David Chenoweth, Founder and CEO of WSR. “They always had our best interest in mind, were responsive to any issues or questions throughout the entire process, and were effective in achieving our objectives.”
Adams Price, Managing Director of PMCF, added, “David and Liz deserve this great outcome and we were honored they selected us to serve as their advisor. We are excited for their continued growth and the opportunity that lies ahead in partnering with Strength Capital.”
The transaction closed in April 2022. Jim Fipp, Partner at Berg Hill Greenleaf Ruscitti, served as the Company’s legal counsel. Josh Billiard and Mike Grell, Partners at Plante Moran, also served as advisors to the Company.
PMCF is a client-centric middle market investment bank providing merger and acquisition advisory services to private, public, and private equity owned companies worldwide. We combine our expansive industry and transactional expertise with highly engaged, senior-level bankers to create tailored solutions for all our clients. PMCF helps clients meet their sale, acquisition, financing, and strategic growth objectives through a broad range of services, including sale advisory, acquisition advisory, capital raising, transaction planning, and strategic advisory. We have dedicated professionals focused on manufacturing, distribution, plastics & packaging, business & technology services, healthcare, and consumer & retail industries.
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