Ecological Service Partners, a Dallas, TX, and Washington, D.C.-based provider of ecological restoration of wetlands, streams and habitats for endangered species, raised $250m in equity funding.
The backers were not disclosed.
The company intends to use the funds to support activities in large-scale ecological restoration of damaged wetlands, streams and habitats for endangered species, enhance water quality for offsets to nutrient impacts, as well as opportunistically pursue strategic acquisitions in the US.
Founded by Jud Hill and Murray Starkel in 2016, ESP aims to purchase land or interests in land that can generate significant restoration yields following entitlement and ecological restoration and/or enhancement combined with long-term conservation of the properties.
The company seeks to invest in locations that have existing or expected mitigation demand from a diversified customer base (often a mix of industrial, commercial and public infrastructure demand) or a fully committed, concentrated source of demand (e.g. a large mining project under a long-term mitigation supply contract). As a provider of investment capital for large-scale mitigation projects, ESP has access to mitigation markets that have not traditionally used third-party mitigation solutions including those dominated by large-scale extractive (mining, oil & gas, etc.) and public infrastructure (levees, dams, pipelines, highways, etc.) development.