Bernhard Capital Partners to acquire Allied Power Holdings from Charah Solutions for $40m.

Private equity firm Bernhard Capital Partners agreed to acquire Allied Power Holdings, a company engaged in maintenance, modification and repair services to the nuclear and fossil power generation industry, from Charah Solutions, a provider of environmental services to the power generation industry, for $40m. "I am excited to announce that we have made the strategic decision to sell our Allied subsidiary to an affiliate of BCP for $40m. Charah Solutions is laser-focused on capturing a significant share of the $75bn ash environmental remediation and byproduct recycling market, and this transaction strategically positions the Company to devote its full attention and resources to these higher margin and higher growth opportunities. We also significantly strengthened our balance sheet and reduced leverage by applying the full amount of the net proceeds to debt repayment, and we improved our cash flow and available liquidity," Scott Sewell, Charah Solutions President and CEO.