Houlihan Lokey Advises ADA Carbon Solutions

Houlihan Lokey is pleased to announce that ADA Carbon Solutions, LLC (ACS), a portfolio company of Energy Capital Partners, has been acquired by Advanced Emissions Solutions, Inc. (ADES). The transaction closed on December 7, 2018.

Headquartered in Littleton, Colorado, ACS is a leading producer of powdered activated carbon solutions for the coal-fired power plant, industrial, and water markets. The company's flagship plant in Red River, Louisiana is the largest, most automated, and most environmentally-friendly activated carbon production facility in North America. ACS also operates its own dedicated source of raw material, the Five Forks Mine, located in close proximity to the Red River plant.

Energy Capital Partners is a private equity and credit investment firm with over $19 billion in capital commitments. The firm focuses on investing in the traditional and renewable power generation, midstream oil and gas, electric transmission, environmental infrastructure, and related energy services sectors of North America's energy infrastructure.

ADES serves as the holding entity for a family of companies that provide emissions solutions to customers in the power generation and other related industries. ADES and its subsidiaries provide emissions control solutions for coal-fired power generation and industrial boiler industries. With more than 25 years of experience developing advanced mercury control solutions, ADES delivers proprietary environmental technologies, equipment, and specialty chemicals that enable coal-fueled boilers to meet emissions regulations.

Houlihan Lokey served as the exclusive sellside advisor to ACS and assisted in the marketing, structuring, and negotiation of the transaction on its behalf.