Charah Solutions Inc.

Kentucky-based Charah Solutions Inc. has sold Allied Power Holdings LLC, a subsidiary engaged in maintenance, modification and repair services to the nuclear and fossil power generation industry, to an affiliate of Bernhard Capital Partners Management, the company's majority shareholder, in a $40 million cash deal.

"Charah Solutions is laser-focused on capturing a significant share of the $75 billion 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," says Chief Executive Officer Scott Sewell. "At Charah Solutions, our work, mission and culture are directly aligned with meeting Environmental, Sustainability and Governance standards, and providing innovative services to solve our utility customers' most complex environmental challenges. We are an industry leader in quality, safety, and ESG compliance, and are committed to preserving our environment for a cleaner future."