Convent Capital, in partnership with their portfolio company Convertus Group, has acquired Envirem Organics. The acquisition of Envirem will be a key factor in the long-term growth of the Convertus platform, a full-service provider for the treatment and recycling of organic waste.
Envirem is an environmental company specializing in organic bio-products, including mulches, soils, and fertilizer. The company is headquartered in Fredericton, New Brunswick, and houses facilities across the province as well as in Nova Scotia and Maine. Envirem's operations allow the company to effectively process incoming material into high-quality offtakes, which are then bagged or sold in bulk. Envirem's established management team is continuously looking for solutions to further advance the business, which is reflected in the company's recent investment in automated bagging equipment.
"We are incredibly pleased to add Envirem to the growing portfolio of Convertus. This acquisition will contribute to the achievement of our strategic ambitions to become the largest and most advanced operator in North America," says Convertus CEO Mike Leopold.
Bob Kiely, President of Envirem, will continue to lead the Envirem business operations. "The Envirem team is excited about joining the Convertus team," says Kiely. "We look forward to the strategic fit, which amplifies our reach in North America. Combining our strength in product development, marketing, and the conversion of organics into value-added sustainable products, we are strengthened as an organization that contributes to a sustainable future."
"We are at a tipping point when it comes to global warming which poses an existential threat to the planet. Now more than ever we are committed to investing in businesses that focus on combatting key issues such as climate change and climate resilience. The acquisition of Envirem, and the synergies with Convertus' existing operations, brings us one step closer to achieving a better and more sustainable future for all," says Maarten Meijnen, founder of Convent Capital.
