F.N.B. Capital partnered with investment firm Elk Lake Capital, LLC (“ELK”) and the current management teams to purchase a majority interest of Environmental Services Laboratories, Inc. (“ESLI”) and Environment Land Surveying & Solutions, Inc. (“ELS&S”). ESLI and ELS&S offer complimentary services and are based near Indiana, PA. ELSI provides its clientele with a comprehensive range of analytical testing, consulting, and field sampling services. ESLI’s customers include natural gas drilling companies, industrial facilities, municipalities, engineering firms, local/state/federal government, and the general public. ELS&S provides professional land surveying, engineering, and Geographic Information Systems (“GIS”) services in Pennsylvania’s residential and commercial markets including the growing the O&G market. More information can be found by visiting the Company’s website www.environmentalservicelab.com.
F.N.B. Capital Corporation Finances Acquisition of One of Pittsburgh’s Fastest Growing Energy/Environmental Companies
Pittsburgh, PA – February 15, 2013 – F.N.B. Capital Corporation, LLC, the Pittsburgh-based merchant banking subsidiary of F.N.B. Corporation (NYSE : FNB), today announced the successful closing of a mezzanine and equity financing package that supported Elk Lake Capital, LLC’s (Elk Lake) acquisition of Environmental Services Laboratories, Inc. (ESLI) and Environmental Land Surveying and Solutions, Inc. (ELS&S). ESLI was recently named among the Fastest Growing Energy/Environmental Companies in Pittsburgh for 2012 by the Pittsburgh Business Times.
Headquartered in Indiana, PA, both ESLI and ELS&S provide environmental testing, surveying and engineering services to municipalities, engineering firms and private industry, including oil and gas exploration and production companies operating in the Marcellus and Utica Shale regions.
Elk Lake, a family office private equity firm located in Scranton, PA, focuses exclusively on control-investment opportunities in privately held companies. Strategic Advisors served as exclusive financial advisor and placement agent.