M&A · Industrials · Hazardous Waste Management
SER Capital Partners to acquire Charah Solutions, Inc.
Announced Apr 17, 2023 · Closed Jul 20, 2023
Deal value$202MEV $336M
Premium57.0%To unaffected price
EV / Adj. EBITDA—
ConsiderationAll cash$6.00 per share
Transaction
- Acquirer
- SER Capital Partners
- Target
- Charah Solutions, Inc.
- Buyer type
- Private equity
- Offer price per share
- $6.00
- Enterprise value
- $336M
- Status
- Closed Jul 20, 2023
Deal protections
- Break fee (target pays)
- $3.5M · 1.7%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- Houlihan Lokey
Sector context · Industrials
- Comparable deals
- 78 in the prior 24 months
- Premium
- 57.0% vs. 47.6% sector median
- EV / Adj. EBITDA
- Sector median 12.3x
- Break fee
- 1.7% vs. 2.8% sector median
Timeline
- AnnouncedApr 17, 2023
- Proxy filedMay 31, 2023
- Definitive proxyJun 12, 2023
- Shareholder voteJul 12, 2023
- ClosedJul 20, 2023