Environmental 360 Solutions Inc. and investors led by BlackRock Alternatives, through a fund managed by its Diversified Infrastructure business, jointly announced the closing of a transaction through which BlackRock has acquired a majority interest in E360S. Donato (Danny) Ardellini, the Company’s Founder and CEO, will continue in his leadership role at E360S and will maintain his significant ownership stake.
Ardellini, on behalf of E360S and its employees, said, “This partnership with BlackRock is a significant milestone for E360S and represents the next stage of the Company’s evolution. We now have over 1,500 dedicated employees across five provinces in Canada and over 30,000 customers. BlackRock’s investment is a reflection of the hard work of all of our employees—without them, our continued success would not be possible.”
Ardellini added, “Having founded the Company, it was important to me that we partner with an organization with the same strong values as E360S as we sought resources to support our growth. It was clear at our first meeting with the BlackRock team that they would be a great fit with the culture that has been established at the Company, and I welcome their partnership as we continue to deliver against our strategy to build a leading, integrated North American provider of solid waste and environmental services.”
Mark Florian, Global Head of Diversified Infrastructure, BlackRock, said, “E360S provides critical, non-discretionary services that generate resilient cash flows, supported by contracts with inflation escalators. The Company’s infrastructure, key permits and scale alongside increasingly stringent regulation result in substantial barriers to entry. We look forward to partnering with Danny and E360S’ highly experienced management team to support the Company’s ongoing growth.”
Adi Blum, Managing Director, Diversified Infrastructure, BlackRock, said, “We are excited to invest on behalf of our clients in a company with the entrepreneurial spirit and growth trajectory of E360S. In addition to capital, BlackRock will provide E360S with the right strategic support to achieve its growth plans. There is significant white space to grow the Company’s sustainability and circularity services, as well as continuing to grow in traditional solid waste and environmental services.”