Pomona-based GEM acquires wastewater-treatment company
General Environmental Management Inc. in Pomona recently announced that it has completed the acquisition of Santa Clara Waste Water, an environmental-services company focused primarily on treating wastewater. According to a company news release, "GEM financed the acquisition through the issuance of six promissory notes in the aggregate principal amount of $9 million, along with warrants for the principals of SCWW to purchase 425,000 shares of GEM's common stock. The notes bear interest at 6.5 percent per year." Two promissory notes, which total nearly $3.8 million, can be converted into 15 percent of GEM's common stock, according to the release. Information: www.generalenvironmental.com
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