Gopher Resource to be Acquired
Gopher Resource Announces Agreement to be Acquired by Energy Capital Partners
Gopher Resource LLC, of Eagan announced today that it has agreed to be acquired by Energy Capital Partners (ECP), a private equity firm based in New Jersey. The two parties expect to close the transaction on or around March 6, 2018. Gopher Resource would join ECP’s growing portfolio of energy-related companies, including those in power generation, midstream oil and gas, renewable energy, environmental, and related services.
Jeffrey Jacobsen, Gopher Resource chief executive officer, explained that the two like-minded companies have been in talks for some time. He said that his company’s exceptional performance and the battery industry’s growth made Gopher Resource an attractive acquisition prospect. ECP shares and appreciates the Gopher Resource values of honesty, integrity and doing the right thing for all constituents.
“We’re very excited about the synergy of joining Energy Capital Partners. They understand our business and recognize its strong potential for growth. ECP has the ability to take Gopher Resource – the company and its employees – to the next level of success.”
Jacobsen added that he expects no immediate changes in the Gopher Resource leadership team or among employees, daily plant operations, or the company’s long-standing commitments to safety and environmental stewardship.
The two companies will release a joint statement once the acquisition is finalized.
About Gopher Resource
Minnesota-based Gopher Resource is a national environmental solutions provider and a leader in its field. Founded in 1946, the privately held company uses advanced technology to recycle spent automotive, industrial and stationary batteries in a safe and sustainable manner. Gopher Resource employs approximately 600 people at recycling facilities in Eagan, MN and Tampa, FL. It also partners with Dakota County (in MN) to operate The Recycling Zone for county households and businesses. For more information visit gopherresource.com.
About Energy Capital Partners
Energy Capital Partners (ECP) is a private equity firm focused on investing in North America’s energy infrastructure. Since 2005, the firm has raised over $13 billion in commitments, from state pension funds, university endowments, sovereign wealth funds and other institutional investors. ECP has utilized this capital to work collaboratively with management teams in building and acquiring investment platforms across multiple sub-sectors. With offices in Short Hills, New Jersey; Houston, Texas; and San Diego, California, Energy Capital Partners seeks to leverage its team’s decades of energy experience in investing and managing energy infrastructure assets and businesses to serve its investors and portfolio companies. Learn more about ECP at ecpartners.com.