NEW YORK, February 1, 2023 /PRNewswire/ — Sentinel Capital Partners, a private equity firm that invests in promising middle market companies, today announced the sale of Apex Companies, a leading provider of comprehensive environmental consulting and engineering solutions, to Morgan Stanley Capital Partners. Sentinel Capital Partners will retain a minority position in Apex following the closing. Financial terms of the deal were not disclosed.
Apex, headquartered in Rockville, Maryland, is a leading environmental consulting and engineering firm specializing in a wide range of environmental and infrastructure needs. Apex serves a large and diverse client base spanning both the public and private sectors and a wide range of end markets including energy, industrial, manufacturing, real estate, retail and telecommunications. An established leader in stormwater compliance and environmental services, Apex also offers a robust portfolio of services in water infrastructure and resources, compliance and security (including ESG consulting), health and safety, transportation and civil engineering. Apex has over 1,100 professionals working in 50 offices nationwide and also has the largest stormwater management and compliance practice in the country.
“We’ve had an excellent partnership with Sentinel over the past four years,” said Dave Fabianski, CEO of Apex. “Sentinel’s support and guidance has helped us achieve our strategic growth initiatives and their commitment to our people has been absolutely first-rate. We appreciate their partnership and the way the Sentinel team is engaging with our team.”
Sentinel acquired Apex in November 2018 and has since completed four successful additional acquisitions – Bureau Veritas’ health and environmental consulting business, which includes safety, ergonomics, sustainability, compliance and management systems solutions; CME Engineering LP and CME Operations LP, regional civil, mining, water and environmental engineering service providers serving clients in the Mid-Atlantic; Environmental Partners, a regional leader in engineering services in New England; and Retention Pond Services, a regional leader in stormwater compliance, maintenance and repair services in the Mid-Atlantic, Southeast and Midwest.
“Apex’s management and employees are extremely talented and dedicated, and we are very pleased to work alongside them. This team has built Apex’s national reputation as a leader in water resources and environmental compliance, built an impressive track record, and well-positioned Apex to continue its impressive growth trajectory,” said Michael Fabian, a Sentinel partner. “Our investment in Apex also reflects Sentinel’s continued commitment to ESG.”
Sentinel has extensive experience in infrastructure investment and environmental engineering and consulting businesses. In addition to Apex, previous investments in the sector include: current investment in TransSystems, a provider of engineering, architectural and design consulting solutions; and previous investment in Trinity Consultants, a provider of air quality consulting and compliance services. Apex is Sentinel’s fourth release in the last 12 months. The other three are Captain Dsthe leading brand of quick service seafood restaurants; Altima Dentalleading organization for dental care in Canada; and Nekosaa leading manufacturer of specialty paper and film products used in the graphics and commercial printing markets.
Robert W. Baird & Co., Hooligan Lokiand AEC Advisors served as financial advisors to Apex.
About Sentinel Capital Partners
Sentinel specializes in buying and building mid-sized businesses in United States and Canada in partnership with management. Sentinel targets the aerospace and defense, business services, consumer, distribution, food and restaurant, franchising, healthcare and industrial businesses. Sentinel invests in management buyouts, recapitalizations, corporate sales and private transactions of established businesses with EBITDA up to 65 million dollars. Sentinel also invests in special situations, including structured capital solutions, balance sheet restructuring and operational changes. For more information about Sentinel, visit www.sentinelpartners.com.
About Apex Companies
Apex is a multi-disciplinary consulting and engineering firm with a robust portfolio of capabilities in water, environment, infrastructure, health and safety, and compliance and assurance. Apex is highly regarded for its technical expertise, rapid response, operational integrity and exceptional customer satisfaction. Apex operates in all 50 states and maintains a highly capable and diverse team of scientists, engineers, consultants, technicians and information management professionals.
Contact: Roland Thomforde
SOURCE Sentinel Capital Partners