Environmental 360 Solutions Inc. ("E360S") and investors led by BlackRock Alternatives ("BlackRock"), through a fund managed by its Diversified Infrastructure business, jointly announced the closing of a transaction through which BlackRock has acquired a majority interest in E360S.

BlackRock has acquired equity interests from E360S's key institutional investors, including Almada Inc. ("Almada"). As a founding investor and majority shareholder, Almada provided the capital and partnership to E360S management to establish the Company. Additional investors whose interest Blackrock has acquired include OPSEU Pension Plan Trust Fund ("OPTrust") and Oaktree Capital Management L.P. ("Oaktree"). One of E360S' early investors, Canadian Business Growth Fund, increased its existing equity position as part of the transaction.

BMO Capital Markets acted as financial advisor and Miller Thomson LLP served as legal advisor to E360S in connection with the transaction. RBC Capital Markets acted as financial advisor and Blake, Cassels & Graydon LLP served as legal advisor to BlackRock.

Financial terms of the transaction were not disclosed.