Shaw purchases controlling interest in Watershed Geo
Dalton-Shaw Industries has purchased a significant majority stake in Watershed Geosynthetics (Watershed Geo) and has entered into a letter of intent to acquire a majority stake in Watershed Solar. These steps build on the long-standing partnership between Shaw and Watershed Geo.
“We have had a business and financial relationship with Watershed Geo for a decade,” said Vance Bell, Shaw’s executive chairman. “It’s exciting to see how their business has evolved and what huge opportunities they have in the future. Driven by commitments from major utilities, government agencies and global industries, the company is poised to explode.”
Watershed Geo and Watershed Solar sell proprietary environmental solutions for utilities, waste management, erosion control and mining. Watershed Geo develops innovative solutions for the protection and resilience of civil, environmental and energy infrastructures. These widely recognized innovations challenge traditional solutions with systems that are durable, inexpensive, and designed for extreme performance.
Watershed Solar is an early stage company providing patented renewable energy solutions. Named PowerCap, the technology delivers low-profile, high-efficiency solar panels to landfills, coal ash seals and roofs utilizing Watershed Geo’s capping technologies. The combination of these innovative solutions converts liabilities into renewable energy assets.
According to Shaw, both companies’ leadership teams will remain in place.
“This additional investment by Shaw provides greater financial strength and operational capacity,” said Mike Ayers, CEO of Watershed Geo and Watershed Solar. “It also represents a meaningful vote of confidence in Watershed Geo’s mission to improve the resilience of civil and environmental infrastructure while delivering significant, tangible environmental benefits to both our customers and the communities we serve.”
Watershed Geo serves the environmental and civil sectors, with clients such as TVA, Environmental Protection Agency, Southern Company, Dow, Rio Tinto, ExxonMobil, Chevron, US Department of Energy, Georgia Pacific, US Department of Defense, public and private waste management facilities and many others.
“We are optimistic about continued growth based on the economic and environmental benefits we create for our customers,” said Kyle Ehman, president of Watershed Geo and Watershed Solar. “Just one of our opportunities is turning landfills into solar farms, creating value for businesses and communities. With Shaw’s continued investment, we will accelerate this progress.”
Shaw originally invested in Watershed Geo in 2011 to raise capital and diversify the company’s use of its synthetic turf production assets. Shaw is the exclusive supplier of turf to Watershed Geo.
“The partnership between Shaw, Watershed Geo and Watershed Solar is a great example of companies working together based on a set of shared beliefs around customer value, innovation, sustainability and the importance of a growth mindset,” said Tim Baucom, Shaw. chairman and CEO. “I’m excited to see where the partnership will take us from here.”