Island Environmental Services is based in Pomona, California (in the Los Angeles metropolitan area). The sellers are a husband and- wife team who started the company with one truck 25 years ago, and counts among its clients Wal-Mart, Siemens and the California Department of Transportation. "Our clients were interested in retiring and moving on to the next phase of their lives, and were hoping the sale of the company would allow that to happen," explained Eric Sanderson, the Generational Equity managing director overseeing the transaction.
"While marketing Island Environmental to prospective buyers, a couple of contracts were lost, and we had to revise our strategy," Sanderson said. "The private equity groups that had initially expressed serious interest backed off, however, we located GEM and they turned out to be an excellent match." "The IES family is excited to join GEM and I look forward to working with the GEM team to further expand this company," said Randy Costales, IES President. "We both share a common-sense approach to customer service and many years of combined experience in this industry. With GEM's systems applied to the IES service group, we expect to continue GEM's momentum in future quarters."
"With this deal, we were able to bring together two high-quality companies," said Ryan Binkley, President of Generational Equity. "Each had strengths the other needed, and the deal worked out well for all concerned." About General Environmental Management General Environmental Management, Inc. is a full-service hazardous waste management and environmental services firm providing integrated environmental solutions managed through its proprietary web-based enterprise software, GEMWare, including the following service offering: management and transportation of waste; design and management of on-site waste treatment systems; management of large remediation projects; response to environmental incidents and spills; and environmental, health and safety compliance. Headquartered in Pomona, California, GEM operates seven field service locations and one Treatment, Storage, Disposal all markets in the Western U.S.
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