Palm Beach Capital Announces Investment in Earth Systems, LLC

WEST PALM BEACH, Fla.--(BUSINESS WIRE)--Palm Beach Capital Fund V, L.P. (“PBC”), through one of its investment entities, announced today that it has made an investment in Earth Systems, LLC, (“Earth Systems” or the “Company”) a leading environmental engineering and consulting firm based in South Florida. Financial terms of the private transaction were not disclosed.

Earth Systems services clients in various end markets including oil and gas, governments and municipalities, utilities and property development. Service lines include assessment and remediation, spill response, environmental compliance and risk management. Founded in 1999, the Florida based company has grown its national presence over the last 23 years and now services 7 states through 13 offices. Regulations for new contaminants of concern (e.g. PFAS) create an ever-expanding demand for the Company’s services. Earth Systems is poised for tremendous growth with ten new master service agreements in the past 24 months and a corporate culture that attracts and retains both coveted clients and employees.

“We are very excited about partnering with Palm Beach Capital given their deep industry expertise and longtime history of partnering with business owners and founders. PBC will provide Earth Systems the capital and access to strategic resources the company needs to execute on our long-term growth plans which include organic growth through new locations as well as strategic acquisitions that will allow us to expand into new geographies, services and clients,” stated Rick Ofsanko, Co-President and Co-Founder of Earth Systems.

“We are excited to partner with the Earth Systems management team, and we look forward to providing the necessary support and capital for the company to take the next step in its growth plan,” said Nate Ward, PBC Co-Founder and Managing Partner. “Earth Systems is uniquely positioned with long-term customer relationships in its niche verticals to grow exponentially as the country continues to increase regulations and emphasize the environmental impacts on society. We believe this business will serve as a strong platform while the Company expands into tangential service offerings in the environmental engineering industry.”

Aaron Horowitz from Horowitz Law Firm, P.A. and Milton Vescovacci from Gunster served as seller’s legal counsel, and Reggie Zachariah from Greenberg Traurig served as buyer’s legal counsel on the transaction.

About Earth Systems

Founded in 1999, Earth Systems is an environmental engineering firm based in Lantana, FL, with offices in New Jersey, New York, Colorado, North Dakota, Pennsylvania and Texas. The company was founded to satisfy clients and employees. Earth Systems has a 20-year track record of low employee turnover, steady growth, and long-term relationships with a variety of highly selective clients in various markets and industries.

About Palm Beach Capital

Founded in 2001, Palm Beach Capital is a middle market private equity investment firm based in West Palm Beach, Florida. Currently investing out of its fifth committed fund, the firm focuses on high growth investment opportunities and partners with management teams in management buyouts, recapitalizations and growth equity investments. Since its inception, Palm Beach Capital has made investments in 55 platform portfolio companies, with a focus on the business services, healthcare, and transportation and logistics sectors. For more information, please visit the firm's website at www.pbcap.com.