One of the nation’s largest demolition and remediation companies, Seattle-based Nuprecon/CST, has become larger still with the acquisition of Maryland-based Marcor Remediation Inc. Marcor specializes in environmental remediation contracting.
The newly-combined company will have more than 1,500 employees in 20-plus offices. The company is expected to generate approximately $250 million in annual revenue.
Marcor’s significant presence and resources in the northeastern United States complement the strong West Coast and Southeast presence of Nuprecon/CST, the company states in a news release announcing the acquisition. Marcor will continue to operate under its brand name, according to the release.
The transaction was overseen by Nuprecon/CST’s majority owner, Seattle-based Evergreen Pacific Partners, which manages $700 million of equity and invests in what it calls “private, traditional industry, middle-market companies in Western North America.”
John Hennessy and Sage Khara, the founders of Nuprecon and CST respectively, which merged in early 2008, will continue in their executive roles at Nuprecon/CST. Marcor equity holders Dave Jungers, chief operating officer, and Tim Miller, executive vice president, will retain their leadership roles at Marcor and have equity positions in the combined entity.
“There’s no doubt that this is the classic example of the whole being greater than the sum of its parts,” says John Hennessy, Nuprecon’s president. “Marcor’s service offerings and geographic locations are a perfect complement to ours.”
Adds Sage Khara, president of CST Environmental, “Marcor immediately gives us the ability to offer our customers more services in more locations. Marcor is extremely well respected in the industry for having a top caliber management team and the highest quality of service.”
On behalf of Marcor, Dave Jungers remarks, “With the access to capital provided by Evergreen Pacific Partners alongside the complementary service offerings and geographic locations, we’re poised for tremendous growth. The fit goes beyond that to include our shared cultures of safety, service and results for our customers.”
Nuprecon/CST offers demolition services and a range of turnkey remediation and recovery services, including concrete sawing, drilling, abatement services, C&D material recycling services and site preparation.