Marsulex Environmental Technologies Corporation (“MET”) announces its status as an independent business with the conclusion of the strategic review process announced by Marsulex Inc. in 2010. As a result of a going private transaction completed on August 3, 2011, MET has become a wholly owned subsidiary of Birch Hill Equity Partners (“Birch Hill”), who has been the majority shareholder of MET for approximately 10 years. Stockholders of MET, other than Birch Hill, will receive a notice of the merger and will be paid Cdn$3.30 per share. MET’s website address has changed to www.met.net and its e-mail address domain changes to “@met.net”.
Commenting on the new ownership structure, MET President & CEO, Dr. Robert Cardell said
“I am very pleased to continue our relationship with Birch Hill. With the support of Birch Hill and with more than $35 million in cash and no debt, we remain in an excellent position to grow our business in providing air quality control technologies and services throughout the world.”
Birch Hill Equity Partners is a leader in long-term value creation in the mid-market, with over $2.0 billion in capital under management, 20 partner companies and and $1 billion available for new and follow on investments. Birch Hill invests in companies that are established or potential leaders in their industries who seek an investing ally to help them realize their full potential. Website: www.birchhillequity.com
MET provides air quality control systems and services to electric utilities, petrochemical and general industrial customers. MET technologies include both wet and dry flue gas desulfurization (“FGD”) systems as well as performance upgrades to existing FGDs. MET’s proprietary AS-FGD is a wet technology that produces high value ammonium sulfate crop fertilizer as by-product. Its dry CFB-FGD technology offers a highly efficient, multi-pollutant approach to capture SOx, acid gases and metals. MET’s FGD technology has been installed on over 90 gigawatts of electrical generation in 22 countries across the globe.