WAYNE, PA — Guardian portfolio company, Nwestco, LLC (“Nwestco” or the “Company”), a Denver, Colorado-based leading provider of fuel and car wash equipment, maintenance, compliance, and installation services throughout the western and Midwest regions, has successfully completed the acquisition of Palmetto Environmental Group LLC. The combined companies allow for greater investments in new solutions, accelerated innovation, expand a comprehensive product portfolio, and deliver high-quality installation and ongoing maintenance services to commercial, governmental, and industrial end-markets. The transaction was completed on October 16, 2023. Terms of the transaction were not disclosed.
Palmetto Environmental Group was founded in Denver, Colorado in 2003 and since that time has completed projects across the United States. Its staff is comprised of geologists, engineers, hydrogeologists, environmental scientists, and technicians who have experience in environmental investigation, remediation, due diligence, underground and above ground storage tank compliance and inspection requirements, petroleum and chlorinated hydrocarbon assessment and remediation, and site demolition activities.
The acquisition of Palmetto Environmental Group is a transformational opportunity for Nwestco. “By bringing together our combined resources, intellectual capital and organizational depth, customers will receive enhanced compliance and environmental-oriented services by incorporating Palmetto’s compliance and environmental solutions and capabilities into Nwestco,” said Nwestco CEO Tim Gibbar. “The existing Denver joint customer base and other commercial, governmental, and industrial end-markets will reap the benefits of having the combined company cross-sell both Palmetto and Nwestco services, by one provider, making it easier to receive services and transact business,” added Gibbar.
John Drafts, CEO of Palmetto Environmental Group, said, “We have built a great company that has driven strong growth. Our products and capabilities complement Nwestco offerings, creating the opportunity to leverage the best of both. This is one of those rare situations where the complementary strengths of two companies create an opportunity to make one plus one equal three.”
Ryan Northington, a Partner of Guardian Capital Partners and Chairman of Nwestco, said, “Since our first meeting we have been impressed with John and the company he has built. The opportunity to partner together represents a tremendous opportunity for both businesses to drive accelerated growth through continued expansion of capabilities and geographic reach.”
About Nwestco
Nwestco (https://nwestco.com) is a leading provider of fuel and car wash equipment, maintenance, compliance, and installation services throughout the western and Midwest regions of the United States. The Company has 30+ years of experience as the go-to provider of mission-critical services to fueling and car wash operators through a network of 11 branch locations and a team of over 100 specialized, highly trained field technicians.
About Palmetto Environmental Group LLC
Palmetto Environmental Group was founded in Denver, Colorado in 2003 and since that time has completed projects across the United States. Its staff is comprised of geologists, engineers, hydrogeologists, environmental scientists, and technicians who have experience in environmental investigation, remediation, due diligence, underground and above ground storage tank compliance and inspection requirements, petroleum and chlorinated hydrocarbon assessment and remediation and site demolition activities.
About Guardian Capital Partners
Guardian Capital Partners is an operationally focused private equity firm based in suburban Philadelphia. Guardian makes control investments in lower middle market consumer, niche manufacturing, and specialty business services companies. Guardian partners with management teams to provide equity capital to fuel the growth of privately held businesses. We believe the private equity experience and complementary skill sets of the Guardian team provide a unique combination of operating and finance capabilities resulting in certainty of execution and meaningful long-term value creation for its portfolio companies.
Contact Information:
For any inquiries, contact Tim Gibbar at timg@nwestco.com or Ryan Northington at rnorthington@guardiancp.com.