Morgan Stanley PE unit acquires environmental services firm Apex Companies

The logo of Morgan Stanley is seen in New York
A file photo showing the logo of Morgan Stanley is seen in New York January 9, 2013. REUTERS/Shannon Stapleton/File Photo

Feb 1 (Reuters) - Morgan Stanley's (MS.N) 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.

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 (JPM.N) 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.

Reporting by Niket Nishant in Bengaluru Editing by Vinay Dwivedi

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