Synagro is the leading North American provider of residuals management solutions & land application services, offering capabilities across the spectrum of wastewater environmental services. Synagro converts biosolids into environmentally friendly by-products, e.g. crop fertilizers.
Synagro was founded in 1986 and is headquartered in Baltimore, Maryland. The Company serves more than 600 municipal and industrial customers across 34 states and the District of Columbia in the U.S. and Canada.
The Company’s services and facilities help customers of all sizes save money and meet environmental regulation requirements through the beneficial re-use of the biosolids.
Synagro is the North American market leader for biosolids management, with a footprint multiple times larger than its closest competitor. It is a core infrastructure business with an asset based business model delivering an essential service to society through long term contracts.
The majority of the revenue is generated from long term contracts with high renewal rates, providing stable core cash flows and downside protection.
Synagro operates through several segments:
- Facilities: Incineration (three facilities), drying (eleven facilities, with two additional currently under construction) and composting (seven facilities) of biosolids
- Services: Dewatering, transportation and beneficial re-use, residual program management, maintenance and centrifuge repair, clean-outs, facility maintenance, and emergency work
- Rail: Nationwide rail transport of biosolids and waste material
Key events since EQT investment
- Revamped senior leadership to strengthen operational and commercial expertise and competencies
- Relocated headquarters from Houston to Baltimore and right-sized the organization, resulting in long term SG&A savings
- Company now has 23 facilities, with 21 operating
- Implemented ERP and other IT systems, increasing the visibility and speed of data collection