INDIANAPOLIS, Ind. – Environmental Forensic Investigations, Inc. (EnviroForensics®), a leading environmental consulting, engineering and remediation design firm is excited to announce that it is teaming up with Chicago-based Woodlawn Partners, LLC and Detroit-based Peninsula Capital Partners, LLC. This is an important, strategic step that company leadership believes will catalyze growth into new regional markets, while allowing EnviroForensics® to continue to offer its acclaimed investigation and remediation services at brownfield sites, drycleaners, and manufacturing facilities throughout Indiana, Wisconsin, Kentucky and surrounding areas.
Increased capitalization will allow EnviroForensics® to pursue expansion into new markets to serve municipalities, business and property owners facing the high cost of environmental cleanups and loss of property tax revenue. The Indianapolis-based environmental consulting firm employs more than 65 professionals in the Hoosier State alone, and has earned a reputation nationally for their relentless pursuit of site closures that afford sound business outcomes for its clients. Customers range from manufacturers of aerospace electronics and solvent recyclers, in California, to drycleaners across the Midwest and portions of the East Coast. EnviroForensics® has obtained regulatory closure of environmental matters for more dry cleaner sites than any firm in the nation; and over the past several years has been involved with major Indiana brownfield redevelopment projects in Lake, St. Joseph, Delaware, Vanderburgh, Floyd, and Marion Counties.
EnviroForensics® specializes in cleaning up contaminated properties by locating old CGL insurance policies that are used to fund soil and groundwater investigation and remediation costs associated with the defense of environmental claims brought against its clients. Started in 1996 by Steve Henshaw, EnviroForensics® is projected to reach $20MM in revenue this year, and has grown at an annual rate of over 20% since 2010.
Commenting on the acquisition, EnviroForensics® CEO, Steve Henshaw, who will continue to lead the environmental consulting firm, said: “While we had numerous suitors, Woodlawn Partners and Peninsula Capital Partners have Midwestern roots and understand our business and core values. They are committed to supporting our mission of turning environmental liabilities into assets for our clients. This partnership will provide a depth of experience to help strengthen market share in at home and as we expand into new regional markets.” Woodlawn and Peninsula Capital Partners were attracted to EnviroForensics® because of its niche business model, strong corporate culture and the depth and experience of its technical team. Greg Bregstone of Woodlawn Partners states, “We are excited to team with EnviroForensics® and look forward to working with them to establish a strong national presence.”
Nancy Shields, President of EnviroForensics®, says, “This acquisition will provide tremendous opportunity to our employees as we continue to grow and expand geographically.” Shields also said she expects to double revenues and profit over the next five years. “We have identified strategic growth potential in new markets that are searching for creative strategies to resolve the problems of cleanup and redevelopment of contaminated brownfield sites and blighted urban properties.”