Goldman, Sachs & Co’s Acquisition Of Synagro Technologies, Inc.

Sidley Austin LLP advised Goldman, Sachs & Co on the deal.

The EQT Infrastructure II fund (“EQT Infrastructure”) announced it has entered into a definitive agreement to sell Synagro Technologies, Inc. (“Synagro” or “the Company”) to West Street Infrastructure Partners III, an infrastructure investment fund managed by Goldman Sachs Merchant Banking Division.

Founded in 1986 and headquartered in Baltimore, Maryland, Synagro is the leading provider of wastewater biosolids solutions in North America. The Company provides essential biosolids treatment solutions, turning a waste stream into fertilizer products for over 1,000 municipal and industrial customers across 35 states. Synagro manages over 14 million tons of biosolids annually across its portfolio of 24 specialized treatment facilities and the industry’s largest permitted beneficial use land base.

Under EQT Infrastructure’s ownership, Synagro has developed into the industry leading wastewater biosolids solutions platform in North America with the industry’s largest wastewater biosolids treatment facility footprint, broadest network of permitted disposal solutions and most comprehensive environmental services offering. With its data driven and local approach, the Company has solidified its position as a trusted partner for municipalities and industrial customers helping to protect the water, air and soil quality of the local communities in which Synagro operates.

The transaction is subject to customary conditions and approvals. It is expected to close in December 2020.

Morgan Stanley & Co. LLC acted as financial advisor and Weil, Gotshal & Manges LLP as legal advisor to EQT Infrastructure. Goldman Sachs & Co. LLC acted as financial advisor and Sidley Austin LLP as legal advisor to West Street Infrastructure Partners III.

The Sidley Austin Team was led by Cliff Vrielink (Picture), Alexander Tanton, Leslie A. Slaughter, Chelsie Gonzales, Blake Longoria, Cedric Seley, Sara Duran, Heather Palmer, Robert Velevis, Zackary Pullin, James Weiss, Ron Erlichman, Humza Deshmukh and David Kuwabara.

Involved fees earner: Humza Deshmukh – Sidley Austin LLP; Ron Erlichman – Sidley Austin LLP; Sara Garcia Duran – Sidley Austin LLP; Chelsie Gonzales – Sidley Austin LLP; David Kuwabara – Sidley Austin LLP; Blake Longoria – Sidley Austin LLP; Heather Palmer – Sidley Austin LLP; Zackary Pullin – Sidley Austin LLP; Cedric Seley – Sidley Austin LLP; Leslie Slaughter – Sidley Austin LLP; Alexander Tanton – Sidley Austin LLP; Robert Velevis – Sidley Austin LLP; Cliff Vrielink – Sidley Austin LLP; James Weiss – Sidley Austin LLP;

Law Firms: Sidley Austin LLP;

Clients: Goldman Sachs & Co.;

Author: Ambrogio Visconti