Carus Corp Acquires Sierra Chemical Co.

Saur Group Acquires Aqua-Chem

July 12, 2022

Environmental Services

France-based Saur Group, an EQT‑backed environmental services company, has acquired Knoxville, Tennessee‑headquartered Aqua‑Chem. Aqua‑Chem will become the North American platform and the water purification global center of excellence for Nijhuis Saur Industries (NSI), expanding Saur's process water and purification capabilities across pharmaceuticals, beverage, energy and military end markets.

S|E|Capital Partners Acquires Sierra Air Conditioning, Inc. and Sierra, LLC

January 2, 2020

HVAC & Mechanical

S|E|Capital Partners, a Chicago-based private investment firm, acquired Sierra Air Conditioning, Inc. and Sierra, LLC, closing the transaction on January 2, 2020. Sierra is a dominant residential HVAC installer and service provider in the Las Vegas market; the buyer sees the business as an ideal platform to expand its footprint and offerings.

C&S Chemicals (Shoreline Equity Partners) Acquires ISI Water Chemistries

February 20, 2024

Environmental Services

C&S Chemicals, a portfolio company of Shoreline Equity Partners, acquired ISI Water Chemistries, a Bluffdale, Utah-based provider of cooling tower and boiler water treatment services. The transaction is C&S's ninth add-on and expands the platform's geographic footprint into the Mountain West, adding capabilities and customers across food & beverage, pharmaceutical, and aerospace end markets.

Warren Equity Forms USA Water and Acquires Si Environmental

October 7, 2020

Utilities

Warren Equity Partners formed USA Water Holdings and, together with the platform, acquired Si Environmental (SIE) as the inaugural add-on to a buy-and-build water and wastewater platform. USA Water, based in Houston, will pursue consolidation of small and mid-sized water/wastewater utilities and O&M service providers while SIE will continue to operate as a subsidiary under its existing management.

Carlyle Acquires Majority Stake in Sciens Building Solutions

November 9, 2021

Industrial Services

Funds managed by global investment firm Carlyle acquired a majority stake in Sciens Building Solutions from Huron Capital, with Sciens' senior management and Huron retaining minority equity and a board seat. The investment will support Sciens' growth strategy — accelerating organic investment and M&A to expand its fire and life safety platform across commercial, institutional and government end markets. Terms were not disclosed.

Spheros Environmental Acquires Northwater Consulting

May 5, 2025

Environmental Services

Spheros Environmental has acquired Northwater Consulting, a water resources and geosciences consulting firm with offices in Illinois, North Carolina, Michigan and Arizona. The deal — announced by Spheros and sponsor Union Park Capital — strengthens Spheros' technical capabilities in groundwater modeling, geophysics, and source water protection and expands its geographic reach; it marks the sixth acquisition for Spheros Environmental.