NEFCO Acquired by Synagro
Synagro United States
BOSTON, November 29, 2023 – Bowen is pleased to announce that NEFCO, a leader in North American biosolid processing and beneficial use applications, has been acquired by Synagro, a portfolio company of Goldman Sachs Private Equity. Bowen acted as the exclusive financial advisor to NEFCO.
Originally formed to facilitate the clean-up of the Boston Harbor circa 1991, NEFCO has expanded to manage the biosolids streams from numerous major municipalities. As a nationally recognized trailblazer in sustainable waste processing, NEFCO employs innovative technology to efficiently repurpose biosolid streams for use as a premium fertilizer.
“Any time you have an opportunity to combine two market share leaders, it is both special and complicated. This transformational transaction proved to be no exception and our Agtech team – along with NEFCO leadership – provided expert navigation,” said Paul Bowen, Founder and CEO of Bowen. “We established our Agriculture technology practice two years ago as we saw a greenfield opportunity to match our transactional expertise with an emerging market that is 100% focused on effecting positive environmental and societal change. The Bowen Agtech team – led by Bob Fleming and Max Rieley – has covered a lot of ground in a very short time, and I believe folks will be surprised by the depth and breadth of this exciting sector.”