Layne Christensen Company (Layne) has sold its SolmeteX division to Gemini Investors (Gemini), Riveria Investment Group (Riveria) and the management team of SolmeteX, for an undisclosed consideration.
SolmeteX provides dental amalgam separator devices and amalgam recycling services to the dental industry. The company is widely recognized as the single trusted source for comprehensive environmental solutions for dental waste needs.
Founded in 1993, Gemini is a private equity firm that invests in companies between US$5 and US$50 million in sales, either looking for growth capital or recapitalization. Founded in 2011, Riveria is a private investment group with offices in Washington DC and New York. Riveria primarily focuses on growing companies with a history of positive operating cash-flows and seeks transactions that present unique investment opportunities in industries experiencing significant growth.
“I believe SolmeteX’s potential is significant,” said Nick Mozzicato, SolmeteX’s President. “We’re approaching a critical phase in the growth of our company, and Gemini and Riveria are the right partners to help us execute our strategy."
Layne is a global water management, construction and drilling company, providing responsible solutions to the world of essential natural resources—water, mineral and energy. The company offers innovative, sustainable products and services with an enduring commitment to safety, excellence and integrity.
Oaklins' team in Cleveland represented SolmeteX and Layne in this transaction.
Mark A. Filippell
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