Synagro Technologies, Inc. (NasdaqGM:SYGR) stockholders approved the Agreement and Plan of Merger among Synagro, Synatech Holdings, Inc. and Synatech, Inc., whereby Synagro will become a wholly owned subsidiary of Parent, an affiliate of The Carlyle Group. The parties expect to consummate the merger on April 2, 2007. Additionally, as contemplated by the Merger Agreement, Synagro announced that its Board of Directors has declared a cash dividend to all of its stockholders of record as of the close of business today, March 29, 2007.
About Synagro
Synagro believes that it is the largest recycler of biosolids and other organic residuals in the United States and is the only national company focused exclusively on the estimated $8 billion organic residuals industry, which includes water and wastewater residuals. The Company serves more than 600 municipal and industrial water and wastewater treatment accounts with operations in 33 states and the District of Columbia. The Company offers a broad range of water and wastewater residuals management services focusing on the beneficial reuse of organic, non-hazardous residuals resulting from the wastewater treatment process, including drying and pelletization, composting, product marketing, incineration, alkaline stabilization, land application, collection and transportation, regulatory compliance, dewatering, and facility cleanout services.
About Carlyle
The Carlyle Group is a global private equity firm with $56.0 billion under management. Carlyle invests in buyouts, venture & growth capital, real estate, and leveraged finance in Asia, Europe and North America, focusing on aerospace & defense, automotive & transportation, consumer & retail, energy & power, healthcare, industrial, technology & business services, and telecommunications & media. Since 1987, the firm has invested $26.4 billion of equity in 601 transactions for a total purchase price of $126.5 billion.
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