Round Table Capital Partners Announces Sale of Majority Stake in Verdantas, Paving the Way for Strategic Growth
May 7, 2024
MIAMI, Florida – Round Table Capital Partners (RTC), a private equity firm specializing in lower middle market growth platforms, today announced that it sold a majority stake of its portfolio company Verdantas, LLC (Verdantas or the Company) to Sterling Investment Partners (Sterling). Verdantas management, employees, and RTC will retain significant equity interests in the Company.
Based in Tampa, FL, Verdantas is a leading provider of environmental science, engineering, and consulting services across industrial, energy, government, water, transportation, real estate, and technology end-markets. Verdantas is led by CEO Jesse Kropelnicki and a team of seasoned executives and entrepreneurs, and the Company has distinguished itself in the realm of environmental science, sustainable engineering, and digital solutions. With industry-leading growth, the Company strategically operates across several markets experiencing secular tailwinds. Since its inception in 2020, Verdantas has rapidly expanded its footprint, acquiring 18 companies and fostering a workforce of over 1,450 staff nationwide. The Company’s people-focused approach has resulted in industry-leading retention rates, underscoring Verdantas’ value proposition to both staff and clients, and its influence within the architectural, engineering, and consulting industry.
"RTC extends its appreciation to the Verdantas team for their instrumental role in steering the company's success,” said Christopher Lee, Co-Founder and Co-Managing Partner at RTC. Beyond executing robust growth strategies, including organic expansion and strategic acquisitions, the team has fostered a people-focused culture rooted in collaboration, engagement and rapid trust building across its expanding team.”
Jesse Kropelnicki, CEO of Verdantas said, "RTC has been an outstanding partner for our organization. They have supported our vision of growing a differentiated national professional services firm by committing to a people-focused approach. With RTC's entrepreneurial mindset and strategic backing, we've built a solid foundation for sustained, industry-leading growth with a positive work culture. Our entire organization is deeply grateful for their trust and support over the past four years."
Verdantas remains committed to environmental stewardship, innovation, and making positive impact. Looking ahead, the Company aims to further enhance its services, explore emerging digital technologies, and continue addressing critical environmental challenges. The Company’s vision includes continued growth, strategic partnerships, and a relentless pursuit of being differentiated in the marketplace.
Tony Brindisi, Co-Founder and Co-Managing Partner at RTC, added, “Here we grow again! Our goal in building the Verdantas organization was always to build a market-leading growth platform and to ultimately find a strong partner that is well-positioned to support the organization in achieving its next phase of growth. We are thrilled to partner with the Sterling team, maintaining our support through minority ownership and a seat on Verdantas’ Board of Directors, alongside Jesse Kropelnicki, Sterling, and their partners.”
James Soldano, Partner at Sterling said, “Verdantas’ impressive growth trajectory showcases their unwavering commitment to excellence. Their visionary leadership team has been instrumental in driving this success. We are excited to invest in their future, appreciating their unwavering commitment to their employees and the value they bring to clients and communities they serve.”
About RTC Partners
RTC Partners is a private equity firm that invests in and builds strong businesses with committed management teams in the professional, business, and healthcare services industries. The firm’s dedicated emphasis on human capital, combined with its thoughtful approach to organic and inorganic opportunities, allows organizations to unlock the next stage of growth while enabling sustainable and long-term value creation for all stakeholders. RTC is actively seeking additional platforms and add-on acquisitions in its markets. For more information, visit www.rtcpartners.com.
About Verdantas
Verdantas is an integrated environmental science, engineering, and consulting firm. Our approach involves partnering with clients and communities to create comprehensive solutions that contribute to a sustainable future. We work across industries to protect the environment, enhance communities, and integrate sustainable development into everyday business. Through our diverse, in-house expertise and advanced digital technologies, we provide forward-thinking solutions that help our clients succeed in a changing world. Grounded in a people-focused culture, we prioritize the well-being of our employees, clients, and communities we serve.
About Sterling Investment Partners
Sterling Investment Partners is a private equity firm that has been investing in and building leading middle-market companies for over 30 years with a highly experienced, cohesive team of senior investment professionals. Sterling focuses on value-added distribution and business services, acquiring businesses that the firm believes have strong, sustainable competitive advantages and significant opportunities for value creation. Over its history, Sterling has completed over 230 transactions, representing approximately $30 billion in aggregate value. For more information, visit www.sterlinglp.com.
RTC Partners initiated and managed the transaction. Greenberg Traurig, LLP acted as legal counsel, and Cohn Reznick, LLP and CliftonLarsonAllen, LLP acted as accounting and tax advisors on behalf of RTC Partners and its affiliates.
Dechert LLP and Seyfarth Shaw LLP acted as legal counsel and Alvarez & Marsal LLP acted as tax advisor on behalf of Sterling Investment Partners and its affiliates.
Previous
Verdantas Rises in ENR's 2024 Top 500 Design Firms Ranking
Read More Verdantas Rises in ENR's 2024 Top 500 Design Firms RankingNext
Verdantas Announces the Creation of its Flow Labs
Read More Verdantas Announces the Creation of its Flow Labs