Carlyle’s Synagro files for bankruptcy protection

Synagro Technologies, a Baltimore-based waste recycler owned by the Carlyle Group, filed for bankruptcy protection Wednesday, just days after defaulting on its debt. Carlyle, the D.C.-based private equity giant, borrowed money to take the publicly traded company private in a $772 million deal in 2007. In the ensuing financial crisis, municipalities slashed spending, which caused a significant decline in Synagro’s revenue. read more at: http://articles.washingtonpost.com/2013-04-24/business/38782883_1_carlyle-group-bankruptcy-protection-synagro-technologies