This transaction will serve as a platform from which the company can expand to adjacent geographies throughout the Carolinas and across the broader Southeast.
The company has partnered with Rye, New York-based Dunes Point Capital, a middle-market family office and private investment firm with approximately $1 billion in capital under management.
Watershed Geo and Watershed Solar sell innovative and patented environmental solutions for utility, waste management, erosion control, and mining industries.
In an effort to prepare for future manufacturing volume, the company purchased additional tufting machines over the summer that have been in production for several months.
