Resource Environmental Solutions, which develops and supplies ecological offsets, is acquiring Environmental Banc & Exchange, which specializes in providing customized mitigation and ecological offsets to clients with impacts to natural resources throughout the Southeast, Mid-Atlantic and Appalachian states.
EBX has closed more than 400 conservation easements, completed more than 90 ecosystem restoration projects and obtained permits for more than 41 mitigation banks, says Elliott Bouillion, president and CEO, RES.
EBX will now do business as “EBX, an RES company” during an integration period. EBX will continue to operate in its office locations in Camden, South Carolina; Charlotte, North Carolina; Raleigh, North Carolina; Oak Hill, West Virginia; and Baltimore, Maryland.
EBX founder George Kelly and Randy Wilgis, president of EBX, will join the RES management team.
The transaction will close on Dec. 1.
In other recent acquisition news AAK is selling its biolubricants business Binol to Quaker Chemical, a provider of process fluids and specialty chemicals, and Ceco Environmental this month announced it acquired Emtrol.