SAN FRANCISCO, CA--(Marketwired - May 14, 2014) - Seacoast Capital ("Seacoast") announced today that it has successfully partnered with Channel Investment Advisors, Inc. ("Channel") to recapitalize Patriot Environmental Services, Inc. ("Patriot"). Patriot is a leader in emergency response, industrial service, and transportation and disposal of hazardous and non-hazardous material for oil and gas companies, utilities and industrial clients in California.
Patriot is now capitalized to pursue a growth strategy that will strengthen the company's leadership position in the environmental services industry. Tom Scranton, CEO of Patriot noted "Patriot is successful because we provide high quality service and because of our people. In order for us to continue to be successful, we needed partners who share our vision of how to build a great company. Channel and Seacoast understand where we're going and we are excited to be working with them."
Jeff Holland, Partner at Seacoast Capital, stated "Patriot is a leading company in the environmental services space and we look forward to helping them grow and expand." Cary Meadow, Chairman of Patriot Environmental Services, Inc. and President of Channel Investment Advisors, Inc. added "Patriot is in a unique position to take advantage of tremendous growth opportunities as it broadens its service offerings, strengthens its customer base, and expands its geographic footprint. We are very excited to work with the Company and Seacoast to implement this strategy."
About Patriot Environmental Services, Inc.
Patriot Environmental Services, Inc. (http://www.patriotenvironmental.com) Patriot Environmental Services, Inc. was founded in 2002 by Tom Scranton and is the premier provider of comprehensive environmental services in California. The company provides emergency response, industrial services, and transportation and disposal of hazardous material to oil and gas companies, utilities and industrial clients. Patriot delivers the highest quality of service by employing talented and reliable individuals with extensive and broad-ranged experiences, and providing them with the tools and technology necessary to meet client needs. Patriot's commitment to this approach ensures the services provided and techniques used are efficient and effective in any situation. As a result of clients' trust, Patriot now has a team of over 250 employees to handle difficult and delicate work, safely and responsibly.
About Seacoast Capital
Seacoast Capital (http://www.seacoastcapital.com/) was founded in 1994 to make non-controlling subordinated debt and equity investments in privately-held lower middle market companies. Seacoast specializes in "sponsorless" transactions, preferring to invest directly with company owners or management teams, although it will selectively consider investments led by professional investor groups. Seacoast typically provides between $3 million and $12 million of debt and equity capital for acquisitions, growth, shareholder buyouts, management buyouts, and leveraged recapitalizations. While industry agnostic, Seacoast broadly invests in the specialty manufacturing, value-added distribution, and business services sectors. Seacoast generally targets investments in companies with $10 million to $150 million in revenue and $2 million or more of EBITDA. With offices in Boston and San Francisco, Seacoast has invested over $270 million in over 20 states since 1994. Seacoast is currently investing its third fund, Seacoast Capital Partners III, L.P.
About Channel Investment Advisors, Inc.
Channel Investment Advisors, Inc. is a private equity firm specializing in acquisitions, recapitalizations and growth equity investments in the lower-middle market. Channel was founded in 2003 and is based in Santa Monica, California.
For more information, or to submit an investment opportunity to Seacoast, please contact Patrick Gengoux, Associate, by phone in San Francisco at (415) 956-1400 or via e-mail at firstname.lastname@example.org, or Jamie Donelan, Vice President, by phone in Boston at (978) 750-1300, or via e-mail at email@example.com.