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FNB Capital Backs Purchase of Environmental Firms
PITTSBURGH -- F.N.B. Capital Corporation LLC, the Pittsburgh-based merchant banking subsidiary of F.N.B. Corp., Herimtage, announced Friday the successful closing of a mezzanine and equity financing package that supported Elk Lake Capital LLC's acquisition of Environmental Services Laboratories Inc. and Environmental Land Surveying and Solutions Inc.
Environmental Services Laboratories Inc was recently named among the fastest growing energy/environmental companies in Pittsburgh for 2012 by the Pittsburgh Business Times. F.N.B. noted in its announcement.
The environmental firms, both headquartered in Indiana, Pa., provide environmental testing, surveying and engineering services to municipalities, engineering firms and private industry. Their clients include oil and gas exploration and production companies operating in the Marcellus and Utica shale regions.
Elk Lake Capital LLC, a private-equity firm based in Scranton, focuses exclusively on control-investment opportunities in privately held companies. Strategic Advisors served as exclusive financial advisor and placement agent.
Since its inception in November 2005, F.N.B. Capital has completed 20 transactions across 17 different companies.
Published by The Business Journal, Youngstown, Ohio.
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