Azuria Water Solutions Acquires TSW Utility Solutions, AM-Liner East and C.K. Masonry

Azuria Water Solutions (New Mountain) Acquires Waterline Renewal Technologies from Behrman Capital

February 27, 2026

Environmental Services

Azuria Water Solutions, a New Mountain Capital portfolio company, has acquired Waterline Renewal Technologies from Behrman Capital. Financial terms were not disclosed; Waterline is headquartered in Ottawa, Illinois and provides engineered products and services for trenchless rehabilitation of wastewater and stormwater infrastructure.

Azuria Water Solutions Acquires Twin D, Inc.

July 17, 2024

Environmental Services

Azuria Water Solutions has acquired Twin D, Inc., a family-run pipeline maintenance services provider operating in the Greater Salt Lake City area. Twin D will operate as part of C&L Water Solutions (an Azuria company) and its leadership and local staff will remain in place to continue serving municipalities, local utilities and engineering firms across Utah, Idaho and Wyoming.

Azuria Water Solutions Acquires Oxbow Construction

June 10, 2024

Infrastructure

Azuria Water Solutions, a New Mountain Capital portfolio company, has acquired Oxbow Construction, a trenchless utility contractor based in Troutdale, Oregon. Oxbow will operate as part of Insituform (an Azuria operating company), expanding Azuria/Insituform’s trenchless rehabilitation capabilities and presence in the Pacific Northwest.

Azuria (New Mountain Capital Portfolio) Acquires Infrastructure Services Group LLC from Juniper Capital Management

June 11, 2024

Infrastructure

Azuria Corporation, a portfolio company of New Mountain Capital, has acquired Infrastructure Services Group LLC (ISG) — including its operating subsidiaries Mr. Rehab, Green Mountain Pipeline Services and Inland Waters — from Juniper Capital Management. The deal brings ISG's trenchless water and wastewater inspection, maintenance and rehabilitation capabilities into Azuria's technology-enabled water solutions platform, expanding Azuria’s regional services and technical offerings.

Waterline Renewal Technologies Acquires Pipe Lining Supply

November 2, 2021

Industrial Services

Waterline Renewal Technologies, a portfolio company of Behrman Capital, has acquired Pipe Lining Supply, a national supplier of cured-in-place pipe (CIPP) lateral lining and DWV sewer rehabilitation materials and equipment. The add-on acquisition expands Waterline's trenchless pipeline rehabilitation product and distribution capabilities in North America; financial terms were not disclosed and Adams Street Partners provided debt financing.

AIMS Companies Acquires Southwest Environmental and T. Gray Utility Co.

November 30, 2021

Industrial Services

Sterling Investment Partners’ portfolio company AIMS Companies has acquired two regional infrastructure services providers: Southwest Environmental, Inc. (Phoenix, AZ) and T. Gray Utility Co. (Houston, TX). The add-on deals expand AIMS’ inspection, protection, repair and rehabilitation capabilities and deepen its municipal water/sewer offerings across Arizona and Texas as part of AIMS’ strategy to offer an integrated inspection-to-rehabilitation solution.