General Environmental Management, Inc. this morning announced that it retained General Pacific Partners (GPP), a financial advisory firm, to explore and assist in the evaluation of wastewater business acquisition opportunities in California and the Western United States.

“We are pleased to have retained GPP to focus on acquisition opportunities that can be integrated into GEM’s wastewater business strategy,” stated GEM CEO Tim Koziol. “We expect to close the previously announced SCWW transaction by November 1, 2009 as part of GEM’s overall strategy to shift the focus of the business from hazardous waste field services to the fast growing water treatment and waste-to-energy markets. GPP has been a long time financial sponsor of GEM and has the know-how and resources necessary to find and conduct diligence on complimentary wastewater management companies that can help accelerate GEM’s move into the wastewater industry.”

“GPP was instrumental in developing the SCWW opportunity for GEM management and we are excited to have this expanded assignment,” commented GPP Managing Director Kevin O’Connell. “SCWW, with nearly $8 million in very profitable annual revenue, creates a strong platform for GEM to expand into this market. We believe, based on a preliminary study of the market opportunity, that through expanding the existing SCWW revenues and acquiring smaller wastewater operators, GEM can achieve 20% to 30% annual revenue growth in its wastewater business division for the next several years.”

“We will be very selective and calculated in our acquisition strategy,” added Koziol. “Focusing on profitable wastewater treatment companies, we will work to ensure that all transactions are accretive as demonstrated with the SCWW acquisition. GEM and SCWW have seasoned management teams that have the expertise and ability to scale waste management businesses and we are excited about the opportunities we see in the marketplace. Further, GPP is being retained for this project on a success fee basis so this adds no additional fixed costs to the company at this time.”

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