Liquid Environmental Solutions Acquires FloHawks Plumbing + Septic

Propel Equity Invests in Flow Services Holdings to Launch Residential Sewer & Drain Platform

March 20, 2024

Plumbing

Propel Equity has launched and closed its platform investment in Flow Services Holdings, a newly created residential services platform focused on sewer and drain repair. Propel will partner with management to scale the business through acquisitions and strategic growth (Flow Services completed its first add-on in December 2023), leveraging trenchless repair technologies to serve homeowners and plumbing partners.

Quality Environmental Services Acquires Lakeshore Environmental Contractors (LEC)

February 23, 2024

Environmental Services

Quality Environmental Services, a Caymus Equity-backed environmental remediation platform, has acquired Lakeshore Environmental Contractors (LEC), an Alabama-based remediation and abatement specialist. The deal — announced effective February 23, 2024 — is Quality's first add-on since Caymus Equity's majority investment and doubles the platform's scale while expanding its geographic footprint and capabilities across the Gulf Coast and Southeast.

VLS Environmental Solutions Acquires SRE Environmental

February 8, 2023

Environmental Services

Houston-based VLS Environmental Solutions, a portfolio company of I Squared Capital, has acquired Phoenix-based SRE Environmental, a provider of commercial and industrial wastewater and solid waste management services. The add-on expands VLS's footprint and capabilities in the western United States, adding evaporation-pond wastewater disposal, tanker transport assets and new customer relationships; financial terms were not disclosed.

Superior Environmental Solutions (Palladium) Acquires Hydroblasters Inc.

July 29, 2025

Industrial Services

Superior Environmental Solutions (SES), a Palladium Equity Partners-backed provider of environmental and industrial services, has acquired Hydroblasters Inc., a Wisconsin Rapids-based industrial services firm. The add-on deal expands SES’s footprint and service capabilities in Wisconsin and across the Midwest; financial terms were not disclosed.

P3 Services Acquires Six Local Plumbing and Septic Businesses Across the U.S.

March 4, 2025

Plumbing

P3 Services, a Stellex Capital-backed plumbing and septic platform, acquired six local service providers in 2024 — Forsyth Septic & Rooter Service; Schrader Plumbing; Bob's Backflow & Plumbing Services; Rolland Reash Plumbing; The Plumbing & Drain Company; and 2 Sons Plumbing — expanding its footprint across the Southeast, Southwest, Northeast Florida, and the Pacific Northwest. The add-on deals bolster P3's residential, multi-family and light commercial capabilities and deepen regional coverage as the company builds a national pure-plumbing platform.

I Squared Capital Acquires VLS Environmental Solutions from Aurora Capital Partners

August 18, 2022

Environmental Services

I Squared Capital has acquired VLS Environmental Solutions from Aurora Capital Partners. VLS is a nationwide provider of non-hazardous industrial waste processing, wastewater treatment, and rail/marine specialty cleaning services; financial terms were not disclosed and the company operates roughly 28 locations with over 800 employees.