Monomoy Acquires EnviroTech Services, a Founder-Owned, Value-Add Distributor of Road Surface and Maintenance Products

By: Monomoy Capital Partners via Business Wire

January 23, 2024 at 07:27 AM EST

Monomoy Capital Partners, a private investment firm focused on private equity and credit investing in the middle market, announced today its acquisition of EnviroTech Services, Inc., a leading value-add distributor of road surface products and provider of road maintenance services headquartered in Greeley, Colo. Founded by Roger Knoph in 1989, Monomoy is the first institutional investor in the founder-owned business.

EnviroTech delivers superior road and surface solutions for soil stabilization, erosion and dust control, as well as anti-icing and deicing solutions for the infrastructure, public works, property management, industrial, mining and oil and gas sectors. The company supplies a range of granular and liquid deicing and anti-icing agents specifically formulated to be effective in multiple weather conditions, as well as a suite of products for dust control and soil stabilization for road maintenance. EnviroTech maintains a commitment to research and development to support its forward-thinking advancements in product efficacy, environmental sustainability and road safety.

Building upon EnviroTech’s thirty years of success, Monomoy plans to invest further in the company’s established strengths to seek to optimize existing systems, create logistical efficiencies, enhance route capabilities and expand asset utilization. With the company’s robust West and Midwest footprint, Monomoy’s partnership will also seek to grow into new locations in neighboring states and provide EnviroTech’s services and products to additional markets.

“Monomoy’s deep experience working alongside founder-owned industrial businesses like ours gave us the utmost confidence they are the right partner for EnviroTech’s future,” remarked EnviroTech Founder Roger Knoph. “Our shared commitment to reliability, sustainability and operational excellence underscores every aspect of this collaboration.”

“We believe Monomoy’s strategic understanding of our industry and operational expertise will position EnviroTech for growth and innovation as we enter this exciting new phase,” added EnviroTech President Steve Bytnar. “I look forward to the new heights we can reach together for our customers and valued team members.”

“Our team is enthusiastic about welcoming EnviroTech to the Monomoy portfolio and collaborating closely with the company’s management team. With its extensive service footprint, impressive infrastructure and history of remarkable growth, we believe EnviroTech is well positioned for continued expansion with Monomoy's resources and partnership,” shared Monomoy Managing Director Mel Bartoul. “We are honored that Roger and the EnviroTech leadership team have entrusted us with the responsibility of guiding the company into this next chapter."

Kirkland & Ellis LLP provided legal counsel to Monomoy and Kayne Anderson Capital Advisors, L.P. provided financing for the transaction. Integris Partners served as financial advisor and Sherman & Howard LLC served as legal counsel to EnviroTech.

About Monomoy Capital Partners

Monomoy Capital Partners is a private investment firm with $3 billion in assets under management across a family of investment funds. Monomoy invests in the equity and debt of middle-market businesses that can benefit from operational and financial improvement with a focus on manufacturing and distribution businesses across industrial and consumer product sectors in North America and Europe. Please see our website at www.mcpfunds.com for further information concerning Monomoy and its portfolio companies.

About EnviroTech Services, Inc.

EnviroTech Services provides winter road maintenance and road-stabilization products and services to government, commercial and industrial customers. The company supplies a range of granular and liquid deicing and anti-icing agents specifically formulated to be effective in multiple weather conditions, as well as a suite of products for dust control and soil stabilization for road maintenance. Founded in 1989 and headquartered in the Rocky Mountain Region, EnviroTech has built an extensive production and transportation network across the United States, operating 50 locations and serving customers in 40 states. Learn more at www.envirotechservices.com.