Morgan Stanley’s private equity arm that focuses on middle-market companies said on Wednesday it had acquired environmental services and consulting firm Apex Companies.
Morgan Stanley Capital Partners said the current owner of Apex, Sentinel Capital Partners, will retain a minority stake in the company after the deal closes.
Rockville, Maryland-based Apex offers water infrastructure and environmental, social and governance (ESG) consulting and other services.
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Wall Street has sharpened its focus on ESG segment following investor pressure to cut financing to sectors that contribute to fossil-fuel use.
In 2021, JPMorgan Chase & Co acquired investment manager focused on timberland Campbell Global LLC, while Morgan Stanley Capital Partners bought a controlling stake in air-quality testing and monitoring solutions firm Alliance Technical Group.
Source: Reuters
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