I Squared Capital and TPG-CPPIB in final bid race to acquire controlling stake in Re Sustainability

I Squared Capital To Acquire Milestone Environmental From SK Capital Partners

July 9, 2026

Environmental Services

I Squared Capital entered into a definitive agreement to acquire Milestone Environmental, an independent energy and industrial waste management platform, from SK Capital Partners. The deal is expected to close in 4Q 2026, subject to customary closing conditions and regulatory approvals; financial terms were not disclosed.

I Squared Capital to Acquire Liberty Tire Recycling from Energy Capital Partners

October 14, 2025

Environmental Services

I Squared Capital has signed a definitive agreement to acquire Liberty Tire Recycling from Energy Capital Partners (ECP). The deal adds Liberty—North America’s tire recycling platform with 50+ facilities and more than 215 million end-of-life tires processed annually—to I Squared’s portfolio of environmental infrastructure businesses.

Keter Environmental Services (backed by TPG) Acquires Waste Harmonics from Arcapita

October 2, 2023

Environmental Services

Keter Environmental Services, a recycling and waste management company backed by TPG, has acquired Waste Harmonics from Arcapita Group Holdings. The deal combines Waste Harmonics' tech-enabled waste management platform and nationwide vendor network with Keter's operations to expand capabilities and scale; Waste Harmonics' revenue reportedly nearly quadrupled under Arcapita to approach $400 million.

I Squared Capital to Acquire Enva

April 21, 2023

Environmental Services

I Squared Capital, via its ISQ Global Infrastructure Fund III, has signed a definitive agreement to acquire Enva, an environmental services and resource recovery platform in the UK and Ireland. Enva operates 34 facilities and provides specialized, regulated waste management services with a focus on hazardous and specialist waste and low-CO2 recycled materials.

I Squared Capital Acquires VLS Environmental Solutions From Aurora Capital Partners

August 18, 2022

Environmental Services

I Squared Capital, via its ISQ Global Infrastructure Fund III, signed a definitive agreement to acquire VLS Environmental Solutions from Aurora Capital Partners. The deal was expected to close in Q3 2022 and the transaction has been reported as closed as of August 18, 2022. VLS provides ESG-focused waste management and specialty cleaning and repair services for regulated industries across North America.

EQT and CPPIB Acquire Majority Stake in Waystar from Bain Capital

July 29, 2019

Healthcare Services

The EQT VIII Fund and Canada Pension Plan Investment Board (CPPIB) agreed to acquire a majority equity stake in Waystar, a cloud-based revenue cycle management provider, in a transaction valuing the company at $2.7 billion. Bain Capital Private Equity will retain a minority stake and will continue to support Waystar alongside the new investors to fund continued innovation and transformative M&A.