New York, US-based blank check company Hennessy Capital acquisition Corp. III (NYSE American: HCAC.U) (NYSE: HCAC) (NYSE: HCAC.WS) and investment affiliates of J.F. Lehman and company, LLC (JFLCo) have committed to a USD50 m equity investment in the proposed business combination with NRC Group Holdings, LLC, a portfolio company of JFLCo, the company said.
HCAC said JFLCo´s investment in the company underscores the compelling opportunity of the proposed business combination. JFLCo has owned NRC since 2012 and played an instrumental role in driving the company´s strategy and value creation plan to date, including the merger with Sprint to form NRC Group in June of this year.
NRC Group is a portfolio company of JFLCo, a leading middleâmarket private equity firm focused exclusively on the aerospace, defense, maritime, government and environmental sectors. NRC Group is a global provider of comprehensive environmental, compliance and waste management services to the marine and rail transportation, general industrial and energy markets.
Hennessy Capital acquisition Corp. III was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.