TriArtisan Capital buys majority ownership of EnergySolutions
Salt Lake City-based EnergySolutions has announced that current shareholder TriArtisan Capital Advisors LLC has signed a definitive agreement to acquire the remaining ownership interest in the company from its current majority owner, ECP, an investment firm based in Short Hills, New Jersey. TriArtisan is a private equity firm located in New York City. Terms of the transaction were not disclosed.
EnergySolutions is an international nuclear services company that provides integrated services and solutions to the nuclear industry and owns state-of-the-art facilities to recycle, process and dispose of nuclear material.
“We are delighted that TriArtisan has made a substantial additional investment in the company to become our majority owner and we look forward to continuing our close partnership with them,” said EnergySolutions CEO Ken Robuck.”Our management team and I are excited to continue seamlessly executing on the current business plan.”
“We are very pleased to increase our investment in EnergySolutions in support of Ken and his management team,” said Gerald Cromack, TriArtisan co-founding partner. “Our incremental investment is intended to provide the company long-term stability of ownership and reflects our belief that EnergySolutions is uniquely positioned to take advantage of the rapidly growing nuclear utility, commercial and government waste management and decommissioning markets.”
ECP has been the majority owner of EnergySolutions since 2013 and in 2018 sold a substantial minority ownership interest to TriArtisan. The transaction is subject to regulatory approval and other closing conditions.