HOUSTON--(BUSINESS WIRE)--Resource Environmental Solutions (RES) announced today that it is acquiring Environmental Banc & Exchange (EBX), a US-based company specialized in providing customized mitigation and ecological offset solutions to clients with impacts to natural resources throughout the Southeast, Mid-Atlantic, and Appalachian states.
“RES is excited to welcome the EBX team, which has built a tremendous reputation in the mitigation banking industry,” said Elliott Bouillion, president and CEO, RES. “EBX is a true pioneer—with more than 400 conservation easements closed, more than 90 ecosystem restoration projects completed, and 41 mitigation banks permitted.”
“EBX and its vast knowledge and expertise is a true complement to our efforts,” said Bouillion. “The ecological offset solutions in communities across the country will continue to deliver a positive economic impact on the world and support investments being made to restore America’s aging infrastructure.”
“We’re thrilled to join RES,” said George Kelly, founder of EBX. “Our core values and mission are aligned. In seven short years, we have seen RES earn the trust, loyalty, and respect of clients, landowners, technical consultants, regulators, and the investment community. RES has successfully expanded its Gulf Coast footprint to the Appalachian region by maintaining focus on its clients’ needs.”
Kelly added, “Our seasoned team will use our unparalleled expertise and unmatched resources to address the regulatory challenges of our clients across broader geographies and multiple habitats.”
EBX will now be doing business as “EBX, an RES company” during an integration period. EBX will continue to operate in its office locations in Camden, South Carolina; Charlotte, North Carolina; Raleigh, North Carolina; Oak Hill, West Virginia; and Baltimore, Maryland. George Kelly and Randy Wilgis, president of EBX, will join the RES management team. The transaction will close on 12/1/2014.
Resource Environmental Solutions develops and supplies ecological offsets to help developers obtain required permits for unavoidable project-related impacts. RES has restored more than 20,000 acres of wetlands, streams, and habitats. For more information, visit www.res.us.