SER Capital Partners completed the acquisition of Charah Solutions, Inc. from Bernhard Capital Partners Management, LP and others.
Transaction has been unanimously approved by the board of directors of Charah Solutions and SER Capital Partners. Transaction is subject to the Requisite Stockholder Approval, consent from the Federal Communications Commission and other customary closing conditions. The transaction is expected to be completed in the third quarter of 2023, after which Charah Solutions will be a wholly owned portfolio company of SER. Concurrently with the execution of the merger agreement, SER, Charah Solutions and Bernhard Capital Partners (?BCP?), the Company?s largest equity holder, entered into a voting and support agreement, pursuant to which BCP agreed to, among other things, vote its shares of capital stock in favor of the transaction.
Debra Sinclair, Brian Lennon, Justin Sommerkamp and Andrew Thomison of Willkie Farr & Gallagher LLP acted as legal advisor and Houlihan Lokey acted as financial advisor and fairness opinion provider to Charah Solutions, Inc. Ben Stulberg and Jeff Schlegel of Jones Day acted as legal advisor and Guggenheim Securities, LLC acted as financial advisor to SER. William J. Benitez, Jennifer R. Gasser, Lucas E. Spivey, Julian J. Seiguer, Ty?Meka M. Reeves-Sobers, Mark Dundon and Joe Tobias of Kirkland & Ellis LLP acted as legal advisors Bernhard Capital Partners.
SER Capital Partners completed the acquisition of Charah Solutions, Inc. (OTCPK:CHRA) from Bernhard Capital Partners Management, LP and others on July 13, 2023. All other closing conditions under the Merger Agreement have been met or waived.