Andrews Myers Corporate Law Practice Group Represents Sweat Equity in its Sale of its Interest in Path Environmental Technology to Ara Partners
Houston — July, 2020 In July 2020, Andrews Myers, P.C. represented longtime client, Sweat Equity Partners, in the sale of its controlling interest in Path Environmental Technology, LLC (“Path”), an industrial services provider headquartered in Houston, Texas, to Ara Partners, a private equity firm specializing in decarbonization investments. Andrews Myers has represented Sweat Equity Partners since the inception of Path, including its formation and organization. As part of the Ara-Path transaction, a team of Andrews Myers attorneys, led by Patrick Hayes, Brenton Pharis and Katie Gourley, guided Sweat Equity Partners through the entire sales process, from due diligence to drafting and negotiation of the transaction documents and finally its closing.
Path, founded in 2014 and formerly known as Sweat Energy Services, cleans above ground storage tanks (“ASTs”) and rail tank cars using proprietary methods to reduce greenhouse gas emissions, waste generation and hazardous man hours. Path’s differentiated service offering—unique technologies coupled with highly trained personnel—serves the agriculture, chemical, food & beverage, petrochemical, pulp & paper and refining industries throughout North America. The founder of Sweat Equity Services, Andrew White, remains the Chairman/CEO of Path. Path’s Board of Directors now includes members of Ara Partners, Mr. White and Michael Knigin, CEO of Apache Industrial Services.
In addition to acquiring a majority interest, Ara Partners invested additional capital to further develop Path’s technology and expand its team and geographic footprint. After the transaction, Sweat Equity Partners maintains a significant equity interest in Path.
Click here for the Ara Partners press release.
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