Environmental Services Acquisitions in Colorado

Promus Capital Management, a Chicago-based private investment firm, has completed the acquisition of Tersus Solutions, a Colorado-headquartered provider of proprietary liquid CO₂ waterless cleaning, recommerce, and repair services. Promus plans to support Tersus' growth by investing in additional CO₂ machines and capacity, expanding commercial efforts, and scaling the company's recommerce, fire PPE cleaning, and down recycling capabilities.

Aventia, a Bernhard Capital Partners-backed environmental services platform, has acquired Habitat Management, Inc. (HMI), a Colorado-based natural resource management and ecological consulting firm. The add-on deal expands Aventia's field capabilities in reclamation, restoration, mitigation and water resources across the Rocky Mountain region and nationwide; financial terms were not disclosed.

Tecum Capital and Laurel Mountain Capital, with financing support from Comerica Bank, have invested in Denver-based 5280 Waste Solutions in a majority recapitalization led by Laurel Mountain Partners (the Kendall Family Office). The capital infusion will support 5280's expansion of commercial and residential waste services, strengthen its Denver market presence, and fund strategic growth initiatives.

CSS Inc, a Fairfax-based, employee-owned science and solutions firm, has acquired Riverside Technology, Inc., a Colorado-based environmental engineering and information technology company. The acquisition expands CSS’s environmental intelligence and earth-observation capabilities by adding Riverside’s satellite-data, remote sensing, and environmental decision-support expertise.

True Environmental, a Halle Capital-backed environmental consulting and engineering platform, has acquired Ensero Solutions, a provider of permitting, environmental assessment, water management, remediation technologies, and facility operations. The acquisition is an add-on to True Environmental's platform to expand service capabilities and geographic presence across the U.S. and Canada.

Growable Ventures, led by Solomon Airhart and Jordan Agee, has acquired Denver-based Obex Pest Defense, a residential pest control company founded by Sean Licalzi in 2020. The buyers plan to scale Obex across Colorado, leveraging their experience from Aruza Pest Control to grow Obex into a leading residential pest control brand in the state.

U.S. Compliance, a Susquehanna Growth Equity-backed EHS platform, has acquired Hellman & Associates, Inc., a Denver-area environmental, health and safety (EHS) consulting firm. The add-on expands U.S. Compliance’s Compliance-as-a-Service footprint into the Colorado/Rocky Mountain market; terms were not disclosed.

Employee-owned engineering and environmental consulting firm Terracon has acquired Metcalf Archaeological Consultants, an employee-owned cultural resource management and environmental planning firm. Metcalf’s ~72 employees and its FactorEarth technology platform will join Terracon to expand archaeology, architectural history, and environmental planning capabilities across the Rocky Mountain and Great Plains regions and nationwide.

Montrose Environmental Group, Inc. (NYSE: MEG) has acquired Origins Laboratory, LLC, a Denver-based NELAP-certified environmental testing laboratory. The acquisition integrates Origins into Montrose’s Enthalpy Analytical segment, expanding Montrose’s laboratory capabilities and geographic presence across the Rocky Mountain region; terms were not disclosed.

Koala T Carpet Cleaning, a family-owned Northern Colorado cleaning services company based in Loveland, Colorado, has acquired Mountain Cleaning Systems to expand its residential and commercial carpet and specialty cleaning footprint across Fort Collins, Longmont, Greeley, Windsor, Wellington and surrounding areas. The deal brings together complementary service capabilities and resources to increase availability and reinforce Koala T's position in the Northern Colorado cleaning market.

Apex Waste Solutions, a Parker, Colorado-based platform backed by Kinderhook Industries, acquired Twin Enviro Services and certain assets of WM of Colorado, expanding its footprint on Colorado's Western Slope. The transactions add landfill, material recovery and transfer-station capacity plus additional hauling operations to Apex's vertically integrated waste platform; financial terms were not disclosed.

Union Park Capital has made a majority investment in Timberline Aquatics, Inc., which will join the Environmental Services practice at LRE Water, a Spheros Environmental company. The acquisition integrates Timberline’s aquatic ecological assessment and taxonomic identification capabilities into LRE Water’s platform to expand service offerings, technical expertise, geographic reach, and talent.

Kinderhook Industries made a growth investment in Apex Waste Solutions and, in conjunction with that investment, Apex acquired Materials Management Company (MMC) and All American Disposal to expand its footprint along the Colorado Front Range. The capital partnership is intended to accelerate Apex’s growth, support fleet and technology investments, and fund further add-on acquisitions to build one of the largest independent waste haulers in the region.

Western States Reclamation (a portfolio company of Strength Capital Partners) has completed the acquisition of Naranjo Civil Constructors and combined Naranjo with WSR and WSR subsidiary Ecological Resource Consultants under the newly formed Western States Water. The deal expands WSR’s environmental reclamation and specialty civil contracting capabilities, adding Naranjo’s expertise in natural waterways, urban drainage and structural concrete, and integrates a workforce of over 100 employees.

Montrose Environmental Group, Inc. (NYSE: MEG) has acquired Two Dot Consulting, LLC, an environmental consultancy headquartered in Arvada, Colorado that specializes in regulatory services for the oil & gas and renewables sectors across the Rocky Mountain region. Two Dot's senior leadership, including founder and CEO Todd Spivey, will join Montrose's Consulting and Engineering division to expand the company's regional capabilities in permitting, regulatory compliance, and natural resource management. Terms were not disclosed.

cleanwater1 (formerly UGSI Solutions), a Baird Capital portfolio company, has acquired Velocity Dynamics, LLC, a provider of proprietary dry and liquid feed systems for chemistry optimization in water/wastewater utilities and industrial plants. The deal expands cleanwater1’s product and engineering capabilities in polymer blending, chemical feed and bulk handling to support customers facing higher chemical costs and stricter environmental requirements.

Union Park Capital, a Boston-based private equity firm, has made a majority investment in HydroGeoLogica, Inc., a Golden, Colorado-based mining-focused hydrogeology and geochemistry consulting firm. HydroGeoLogica will form a new Mining Services Group within LRE Water (a Spheros Environmental company), with founders Anita Johnson and Brent Johnson continuing to lead the group.

PERC Water Corporation, a wholly-owned subsidiary of Consolidated Water Co. Ltd. (NASDAQ: CWCO), acquired 100% of Ramey Environmental Compliance (REC) for $4.2 million in cash. The acquisition expands PERC/CWCO’s water and wastewater operations and regulatory compliance services into Colorado, adding REC’s ~15-person team and more than 100 municipal and district customers across the Rocky Mountains and Eastern Plains.

Nwestco, a Guardian Capital Partners portfolio company, has acquired Denver-founded Palmetto Environmental Group LLC. The add-on transaction, completed October 16, 2023, expands Nwestco's environmental compliance and remediation capabilities and enables cross-selling to commercial, governmental, and industrial customers; terms were not disclosed.

Axius Water, a KKR-backed water treatment platform, has acquired Triplepoint Environmental, a Colorado-based supplier of wastewater lagoon systems for rural and municipal customers. The deal expands Axius Water's lagoon technology and nutrient-management capabilities and will keep Triplepoint operating under its existing brand from its Colorado headquarters.

Los Angeles-based Monarch Landscape Companies acquired Environmental Designs, Inc. (EDI), a Brighton, Colorado-based full-service commercial landscaping firm with additional locations in Loveland and Castle Rock. The deal is an add-on to Monarch's PE-backed platform (Audax Private Equity invested in Monarch in 2022) and expands Monarch's service density and capabilities across the greater Denver metropolitan area.

The Tendit Group has acquired Denver-based CAM Services, a provider of exterior facility maintenance including snow removal, power sweeping, power washing, fencing and electrical services. The deal expands Tendit Group's service capabilities and local footprint in Colorado as part of a buy-and-build strategy supported by investor Osceola Capital.

Western States Reclamation LLC (a portfolio company of Strength Capital Partners) has acquired Ecological Resource Consultants, Inc., a Lakewood, Colorado-based engineering and ecological science firm focused on water-resource and mining-related projects. The acquisition is an add-on to WSR intended to expand its geographic reach and service offering across environmental and water-resources projects in the Western United States and globally for mining clients.

Boston-based private equity firm Union Park Capital has made a majority investment in Leonard Rice Consulting Water Engineers, Inc. (d/b/a LRE Water), a Denver-based water resources and environmental consulting firm. LRE Water will serve as the pillar of water expertise within Union Park's Spheros Environmental Group, with management remaining in place as the firm pursues geographic and service expansion.

Aetos Capital has acquired WestWater Research, a U.S.-based strategic water consulting firm, with WestWater management retaining a significant stake. Aetos plans to leverage WestWater's market data and advisory capabilities to support a new water-focused investment fund and to expand services across western U.S. water markets.

Senske Services, a Kennewick, Washington-based provider of residential lawn, tree and pest services, has acquired Liqui-Lawn, a Longmont, Colorado lawn care company founded in 1975. Owner Ed Gollaher is retiring; Liqui-Lawn employees have joined Senske and customers will continue receiving service with expanded offerings as Senske expands further north of Denver (this is Senske's sixth Colorado acquisition since entering the market in 2020).

PaleoWest, a cultural resource management and consulting firm headquartered in Phoenix, Arizona, has acquired Stratified Environmental and Archaeological Services, LLC (SEAS), a Colorado-based CRM firm serving the Four Corners region. The acquisition expands PaleoWest's geographic footprint and technical capacity to support clients across federal and state land management, renewables, transportation, and utilities.

EIS Holdings, LLC acquired Eagle Environmental Consulting, Inc., a Wheat Ridge, Colorado-based environmental consulting firm, expanding EIS’ remediation and environmental services footprint into the Northwest (Colorado and New Mexico). The deal is EIS’ second strategic acquisition in 2022 as the company continues building a national environmental remediation and infrastructure platform.

Louisville-based Protect Environmental has acquired Reliant Radon Solutions, expanding its radon testing, mitigation, and monitoring capacity across Colorado and the western United States. The transaction brings Reliant's local expertise into Protect Environmental's national platform and positions the company to better serve Denver-area and statewide customers.

Toronto-based private equity firm Imperial Capital has made a majority investment in Integral Consulting Inc., establishing Integral as a growth platform to scale its environmental and engineering consulting services. The partnership will fund expansion of services, staff, and geographies and installs Ryan Brain as incoming CEO to lead the firm's growth strategy.

Strength Capital Partners has invested in and acquired Western States Reclamation, a Frederick, Colorado-based environmental and specialty civil contracting company. Midwest Mezzanine and Northcreek Mezzanine provided subordinated debt and equity to support the transaction and First Merchants Bank participated as a financing partner; Strength plans to pursue a buy-and-build strategy to grow the business.

Saturn Five, a Denver-area private equity firm, has acquired Landtech Contractors, a leading commercial landscaping installation and maintenance company in Colorado. The Forbes M+A Group served as exclusive advisor to Landtech; the company operates three facilities, employs over 300 people, and provides landscape maintenance, construction, irrigation and snow removal services across Colorado.

Atar Capital, a Los Angeles-based private investment firm, acquired the assets of Metco Landscape on December 31, 2021. Metco is the largest privately owned landscape company in Colorado, providing commercial landscape maintenance and development services; Atar said the deal expands its capabilities in facilities management and positions the firm for growth in the Colorado market. Financial terms were not disclosed.

Rockwood Equity Partners completed a recapitalization of Pase Environmental, partnering with founder and president Rina Kabouk to establish Pase as the first platform of Rockwood’s Fund IV. Based in Parker, Colorado, Pase provides erosion control and stormwater remediation services across residential, commercial and municipal markets; the deal is intended to fund growth initiatives and build underlying infrastructure using Rockwood’s operating system.

Partners Group and Kohlberg & Company jointly acquired BluSky Restoration Contractors from majority owner Dominus Capital, which retained a minority stake; BluSky management also retains a meaningful ownership position. Denver-based BluSky is a national restoration, remediation, environmental, and roofing services provider with more than 900 employees and 40 branches; the new owners plan to expand branches, national accounts, capabilities, and pursue add-on acquisitions.

ADEC Innovations has completed its acquisition of Cameron-Cole, a U.S.-based environmental services and regulatory compliance consulting firm. The deal expands ADEC Innovations' environmental and sustainability consulting capabilities, adds remediation and hydrogeological services, and extends its U.S. office presence to Colorado and Florida.

Senske Services has acquired the assets of Fit Turf, which operates branches in Broomfield and Centennial, Colorado. The Fit Turf team and operations will continue under the Fit Turf name while becoming part of Senske's growing lawn, tree, and pest services footprint in Colorado.

Top Gun Facility Services, a portfolio company of Osceola Capital, has acquired Emerald Isle Landscaping, expanding Top Gun's service offering into commercial landscaping across the Colorado market. The deal is the fourth add-on to the Top Gun platform since Osceola's partnership and the second in 2021; Three Point Group advised the sellers.

Senske Services, a family-owned lawn, tree and pest services operator based in Kennewick, Washington, has acquired the assets of Elk Creek Lawn & Tree Care of Golden, Colorado. The deal expands Senske’s footprint in the Denver metro area, preserves existing staff and management, and enables Senske to offer additional services (e.g., mosquito and full-service pest control) to Elk Creek customers.

Top Gun Pressure Washing, a portfolio company of Osceola Capital, has acquired Denver-based Bob Popp Building Services, a commercial window-cleaning and exterior building maintenance provider. The add-on expands Top Gun's service offering and Colorado footprint, strengthening its position in exterior facilities and maintenance services across the Rocky Mountain region.

Valicor Environmental Services, a Pritzker Private Capital–backed provider of non-hazardous wastewater treatment, has acquired Affiliated Wastewater Environmental Services (AWES), adding a centralized wastewater treatment facility in Denver, Colorado. The acquisition expands Valicor's footprint into the Western United States and increases its number of centralized wastewater treatment plants to 15 (26 facilities overall).

Concierge Building Services, an independent sponsor, has acquired Kleen-Tech, a commercial janitorial and custodial services provider. The deal positions Kleen-Tech as a platform for growth under Concierge’s plan to professionalize and modernize operations while enabling liquidity for Kleen-Tech’s shareholders.

1 Priority Environmental Services, a portfolio company of O2 Investment Partners, completed a merger with Earth Services & Abatement (ESA), combining capabilities in environmental remediation, selective demolition and abatement. The deal creates one of the largest abatement firms in the U.S., expanding geographic reach across the Southeast, Rocky Mountain and Midwest regions and retaining existing leadership at both companies.

Ashbrook Simon-Hartley, a Houston-based water and wastewater treatment provider, purchased substantially all assets of Wilfley Weber, Inc., a Denver-based maker of aeration technologies for municipal and industrial wastewater markets. Ashbrook plans to integrate the product line into its Process Systems Group to expand its wastewater treatment capabilities and product offering.