"Waste not, want not" could be the motto of Synagro Technologies, which converts sewage sludge into marketable products. The company collects biosolids created by the treatment of wastewater at municipal and industrial plants throughout the US. Synagro Technologies makes money by drying, pelletizing, composting, and incinerating the biosolids and by transporting them for land application as soil base and fertilizer. The company also cleans out sewage lagoons and designs biosolids recycling systems. Synagro Technologies is a portfolio company of investment firm The Carlyle Group.
Synagro Technologies has grown through acquisitions. In 2011 the company served more than 600 municipal and industrial water and wastewater treatment accounts and has operations in 33 US states and Washington, DC.
The company serves customers in the Chemical Manufacturing, Food & Beverage Production and Processing, Municipal, Oil & Gas, Pharmaceuticals, Pulp & Paper, Renewable Energy Generation, Textiles, and Waste/Wastewater segments.
Synagro Technologies acquired HyPex Inc.'s Centrifuge Repair Service business in 2011. HyPex, known for its centrifuge installation and repair capabilities, was combined with Synagro Technologies' dewatering services to expand its emergency response capabilities. It complemented this deal and entered the oil and gas industry that year by acquiring Drilling Solutions, which provides closed-loop solids control and waste management services to the oil and gas customers.
In 2009 the company became embroiled in a federal lawsuit involving a bribery case in connection with a 2007 sludge contract with the city of Detroit. The federal corruption case involving a former Detroit councilwoman led to the company losing the $47 million contract with the city. Former Synagro VP James Rosendall was sentenced to 11 months in prison in 2010 for bribery.
GTCR Golder Rauner owned about 19% of Synagro before the 2007 acquisition of SynagroTechnologies by The Carlyle Group for $462 million. – less