Partnership to drive continued growth in innovative environmental and geotechnical drilling company in California and the Western US
Orange, CA. January 24, 2019 – CVF Capital Partners (“CVF”), a private equity fund headquartered in Northern California, with offices in San Diego, CA and Portland, OR, has acquired BC2 Environmental ("BC2" or the "Company").
BC2 is a leading provider of environmental and geotechnical drilling solutions to California based government organizations, environmental consultants, real estate developers, and other corporations. BC2's management team, led by industry veteran, Kurt Samuelson, will continue to run the business. The additional capital resources and liquidity from the investment will be used to expand operations throughout California and neighboring western states.
Based in Orange, CA, BC2 was formed in 1995 and has grown to become one of the leading environmental drillers in California. The Company serves a blue chip customer base that requires extensive drilling for monitoring groundwater safety, soil remediation and real estate development. The extensive investment in California infrastructure as a result of the new fuel tax, the advent of the 2028 Los Angeles Olympics, and the Los Angeles Rams football stadium represent a massive amount of investment providing the company a solid tailwind.
Environmental and geotechnical drilling has become standard practice worldwide – and, in many cases, a requirement – for any major redevelopment or construction investment. It’s a relatively economical and extremely accurate means of getting the most complete picture possible of subsurface conditions for any large structure, including buildings, bridges, dams, mines and oil rigs.
The company maintains an extensive and diverse fleet of drilling rigs including rotary drills, augers, close-in drills, and sonic drills. This wide variety of drilling capabilities allows BC2 to handle virtually any type of terrain and environment in order to serve its customers.
According to Kurt Samuelson, CEO of BC2, "We have experienced tremendous growth over the past five years, and are committed to building a top tier company. Partnering with CVF bring us the experience and resources that will help take BC2 to the next level."
"Environmental drilling has been our focus in California for decades but the explosive growth and anticipated expansion throughout the state and neighboring states demand that BC2 transition with expanded capabilities and enhanced services. We look forward to working with CVF to capture this huge opportunity for our business," said Samuelson, who co-founded BC2 25 years ago.
"BC2's innovations, equipment assortment, and service levels in environmental and geotechnical drilling provide extraordinary economic and environmental value for their customers," said Stefan Okhuysen, Principal at CVF. "We are truly excited to partner with BC2's excellent management team to continue their growth and expand their scope of services."
"The BC2 team has built a best-in-class service business that understands their customer needs and addresses them in a high value-add, low cost manner," said José Blanco, Managing Partner and co-founder of CVF. "We at CVF specialize in California businesses that can capture the opportunities afforded by the state’s dynamic economy, and BC2 is a true innovator and consistent operator in the field."
For more information contact:
Email: ksamuelson@bc2env.com
