03/20/2007
ROCKLIN, CA—Wildlands, Inc., the leader in the rapidly growing environmental exchange industry with a focus on wetlands mitigation and conservation banking, announced the completion of an investment in the company by Parthenon Capital.
Wildlands, Inc., based in Rocklin, CA, offers a unique approach to advancing environmental and economic goals by investing its resources into land acquisition and using its in-house experts in biology, hydrology, design and construction to restore wetlands and protect endangered species habitats into perpetuity. Working closely with local, state, and federal agencies, Wildlands creates environmental credits which it then sells and trades on the open market to public agencies, private developers, and financial institutions to mitigate for environmental impacts and allow developers to complete projects on a timely basis.
Steve Morgan, founder and CEO of Wildlands, Inc., stated, “Since developing the first mitigation bank west of the Mississippi in 1994, we have continuously strived to provide free market solutions for environmental impacts. As a result of our technical expertise and relationships with both public and private developers, we have become the largest mitigation banker in California and have the opportunity to protect habitat on an almost unprecedented scale and apply our services throughout the western United States. We are excited to partner with Parthenon Capital to help foster growth in new products and geographies.”
Brian Golson, a Partner at Parthenon Capital, commented, “Parthenon is thrilled to be partnering with Steve Morgan and the outstanding management team at Wildlands. After researching the environmental exchange and conservation banking markets for several years, we believe the company’s environmental expertise, industry network and history of successful project development make it uniquely positioned to provide economically sound solutions to current environmental challenges. We look forward to supporting the company’s continued growth into other segments of the industry and into additional geographies.”
ABOUT WETLANDS MITIGATION AND CONSERVATION BANKING
The wetlands mitigation banking industry has its nexus in Section 404 of the Clean Water Act of 1972. Section 404 mandates that the United States have “no net-loss of wetlands.” As such, developers, both public and private, must mitigate for any impact they have on “waters of the United States.” Historically, developers either mitigated on-site or developed their own in-kind mitigation. However, these solutions dramatically delay projects and leave a “postage-stamp like” less than ideal environmental end product. In the early 1990s, the US Army Corps of Engineers, which oversees Section 404 permits, approved its first entrepreneurial banks. Wetlands mitigation banks and conservation banks, which also protect endangered species per the Endangered Species Act, create environmentally sustainable habitats that protect a site into perpetuity. The banks create credits which can be sold on the open market to financiers or developers, who need the credits to offset wetlands or endangered species impacts. The credits provide an environmentally positive solution to impacts caused by economic growth and allow developers to proceed with their projects and focus on their core business.
ABOUT WILDLANDS, INC.
Based in Rocklin, CA, Wildlands, Inc. created the first mitigation bank west of the Mississippi in 1994. With over 40 projects covering over 25,000 acres, Wildlands focuses on creating open market solutions that protect our environment into perpetuity. Wildlands provides a one-stop shop to developers who have impacted environmentally designated areas, in-sourcing the land acquisition, biological design, and construction of mitigation banks. This vertical integration ensures the ecological and financial success of the projects. For more information, visit www.wildlandsinc.com.
ABOUT PARTHENON CAPITAL
Parthenon Capital is a private equity firm with over $1.5 billion of capital under management and offices in Boston and San Francisco. The firm provides capital and strategic resources to growing middle market companies for acquisitions, internal growth strategies and shareholder liquidity. Parthenon provides equity to companies with revenues between $50 million – $500 million. The firm invests in a wide variety of industries with a particular expertise in Business and Financial Services, Healthcare, Distribution/Logistics, and IP-Driven Manufacturing, Products and Services. For more information, visit www.parthenoncapital.com.