Environmental Services Acquisitions in Illinois

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.

FV Recycling, a Jones Capital portfolio company, has acquired Mid America Paper Recycling, a Chicago-based broker, processor, and exporter of recovered materials. The add-on expands FV Recycling's geographic footprint into the Midwest and enhances its processing, logistics, and equipment service capabilities to serve customers nationwide.

Trinity Consultants, a global environmental and life‑sciences consulting firm based in Dallas, has acquired Benchmark Risk Group, a Chicago‑based scientific consultancy specializing in exposure science, toxicology, industrial hygiene and risk assessment. The acquisition expands Trinity's Life Sciences / Risk Science and Safety capabilities and integrates Benchmark's interdisciplinary team into Trinity Consultants Life Sciences.

Jones Lake Management has partnered with Environmental Technology, a Ringwood, Illinois-based pond and lake management firm, and will bring the company to operate under the Jones Lake Management brand. Environmental Technology’s staff will remain in place and owner Jim Benser will become Branch Manager as Jones Lake expands its presence in Northern Illinois and introduces additional services (e.g., gamefish stocking, hydraulic dredging, fisheries management) to the acquired customer base.

Clairvest Group Inc., together with Clairvest Equity Partners VII, has recapitalized and invested in Beneficial Reuse Management (BRM), acquiring interests from Skyline Global Partners and other shareholders. The investment will support BRM’s growth plan to expand its beneficial reuse, recycling and specialty nutrient distribution business across U.S. end-markets including agriculture, landscape and construction.

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.

Greenix Pest Control, headquartered in Orem, Utah, has acquired Proactive Pest Solutions (also referenced as ProActive Pest Management) in the Chicagoland area as part of its regional expansion. The acquisition expands Greenix's footprint to 19 states and complements its residential and commercial pest control services; the seller is Ryan Coleman, owner of Proactive Pest Solutions.

Incline Equity Partners has made a private equity investment in Mostardi Platt, a U.S.-based provider of environmental air testing, emissions monitoring and compliance services. The partnership will support Mostardi Platt's growth through investments in technology, infrastructure and geographic expansion to better serve utility, cement and other industrial customers across North America.

Reworld (formerly Covanta), a Morristown, New Jersey-based sustainable waste solutions provider, has acquired EnviroVac Waste Transport Systems, an Illinois-based hazardous and non-hazardous waste transportation company with operations in Jacksonville, Illinois and Arkadelphia, Arkansas. The purchase adds a fleet of over 25 drivers and nearly 100 specialized transport assets, expanding Reworld's regional footprint and enhancing its ReDirect360 and ReMove waste logistics and processing capabilities.

Senske Services acquired Tee Time Lawn Care, a lawn care provider founded in 2005 and based in Illinois, expanding Senske's Midwest footprint. Tee Time will be integrated and managed under Senske's Pro Turf & Pro Pest Solutions platform, with owner Joseph Daou exiting the business as part of the transaction.

Waste Management, Inc. (WM) agreed to acquire all outstanding shares of Stericycle, Inc. for $62.00 per share in cash, representing an enterprise value of about $7.2 billion including approximately $1.4 billion of net debt. The deal expands WM's environmental services into regulated medical waste and secure information-destruction services, is expected to deliver more than $125 million of annual run-rate synergies and be accretive within one year; the acquisition closed and Stericycle stock was delisted beginning November 4, 2024.

Silver Oak Services Partners led a recapitalization of Beary Landscaping, investing alongside founder and CEO Brian Beary and other senior management. Headquartered in Lockport, Illinois, Beary provides recurring landscaping and snow removal services to commercial customers across multiple Midwest states; the recapitalization supplies growth capital and positions the company to pursue add-on acquisitions while management retains a significant ownership stake.

Water Engineering, a portfolio company of Nolan Capital, has acquired WET Solutions, Inc., a Schaumburg, Illinois-based provider of water treatment equipment, chemicals, consultation, and preventative maintenance services. The transaction is an add-on to Water Engineering’s platform aimed at strengthening its presence in the greater Chicago area while retaining WET Solutions’ brand and owner involvement for continuity and growth.

Circular Services, through its recycling arm Balcones Recycling, has acquired Midwest Fiber Recycling, a family-owned materials recovery and recycling company with operations in Illinois and Indiana. The deal expands Balcones' MRF footprint into the Midwest, adds collection and brokerage capabilities, and keeps Midwest Fiber's management team in place to support further growth under Circular Services' platform.

An investment affiliate of J.F. Lehman & Company completed the all-cash acquisition of Heritage-Crystal Clean, Inc. ("Crystal Clean") at $45.50 per share, valuing the company at roughly $1.2 billion and taking it private. The transaction was financed with committed debt from Jefferies Finance LLC, Sumitomo Mitsui Banking Corporation and PSP Investments Credit USA LLC; key shareholders including The Heritage Group and CEO Brian Recatto supported the deal.

Water Engineering, a portfolio company of Nolan Capital, has acquired Earthwise Environmental, a Wood Dale, Illinois-based provider of water treatment equipment, chemicals, consultation, and preventative maintenance services. The deal is an add-on to the Water Engineering platform to expand its footprint and service capabilities across the Midwest, South and Southeast while retaining Earthwise's brand and founder Robert "Bob" Miller.

Global consulting firm J.S. Held has acquired Environmental Consultants, LLC, a Greater St. Louis–area environmental services firm founded in 2003. The acquisition expands J.S. Held’s Environmental, Health & Safety (EHS) practice by adding industrial hygiene, environmental testing, inspection and remediation support and strengthens its Midwest capabilities.

San Diego-based private equity firm Tide Rock acquired the IT asset disposition (ITAD) assets of SIPI Asset Recovery (a division of Sipi Metals Corp.) and will fold those U.S. and Latin American operations into its portfolio company Full Circle Electronics. The add-on expands Full Circle's footprint to 11 facilities across the Americas (including new locations in Northern California, Illinois, Texas, Mexico and Colombia), roughly doubles headcount to nearly 400 employees, and strengthens its electronics recycling and reuse capabilities for enterprise customers.

Lakeshore Recycling Systems (LRS) acquired family-owned Environmental Recycling & Disposal and the Moen Transfer Station in Will County, Illinois. The deal adds Environmental’s ten municipal contracts, roughly 30,000 residential customers and 4,200 business accounts to LRS’s Midwest waste and recycling footprint; financial terms were not disclosed.

Aurora Capital Partners has made a growth capital investment in Impact Environmental Group (IEG), a global provider of products and services to the waste and recycling industry. The capital will support IEG's organic growth and strategic add-on acquisition strategy to expand its product and service offerings across the US and Europe.

Yellowstone Landscape has acquired Moore Landscapes, a long-standing commercial landscaping firm serving the Chicago market. The acquisition expands Yellowstone’s regional footprint and capabilities in commercial landscape maintenance, design-build and snow/ice management.

Comvest Partners has acquired Duke's Root Control, a national provider of sanitary sewer root control, inspection and remediation services, in a carve-out from Douglas Products following Altamont Capital Partners' ownership. The deal positions Duke's as an infrastructure services platform in Comvest's portfolio and intends to support continued investments in technology and strategic add-on acquisitions to drive growth.

LRS, a leading independent waste diversion and recycling services provider, has acquired Beecher City, Illinois-based Doty Sanitation, effective immediately. The acquisition expands LRS's footprint in central Illinois by adding Doty's residential, commercial and roll-off collection operations and workforce; financial terms were not disclosed.

Watterson, a Highview Capital-backed national facility services platform, has acquired Bassett Creek Services, a Chicago-based restoration and renovation provider comprising five brands. The deal expands Watterson's restoration, renovation and recovery capabilities and geographic scale while providing continuity for Bassett Creek's leadership and customers; Gladstone Investment Corporation exited its investment as part of the transaction.

UCC Environmental, a Waukegan, Illinois–based provider of engineered environmental systems for solids handling, wastewater treatment and air pollution control, received a strategic investment from Clavis Capital Partners and Green Hills Partners. The existing family owner remains a partial owner; the new capital will fund investments in talent, broaden UCC's environmental and water solutions, and accelerate international growth and market-share expansion.

PestCo Holdings, a platform company backed by Thompson Street Capital Partners (TSCP), has acquired Bel-O Pest Solutions, a residential and commercial pest control provider located in Swansea, Illinois. The transaction is an add-on acquisition to accelerate PestCo's expansion into the St. Louis/Missouri-Illinois bi-state market; terms were not disclosed.

Protect Environmental, a Louisville-based environmental consulting and construction firm, has acquired Chicago-area Elliott & Associates, a radon measurement and mitigation specialist. The acquisition strengthens Protect Environmental's presence in the Chicagoland market and adds Elliott & Associates' legacy expertise and local leadership to Protect's national network.

LRS (Lakeshore Recycling Systems) has acquired Auburn Disposal, a three-generation, family-owned commercial waste, recycling and roll-off container provider serving Chicago’s Southland. The bolt-on deal expands LRS’ South Side footprint, adds nearly 3,000 commercial customers, and keeps founding family members in management roles; financial terms were not disclosed.

Bell Valley Capital acquired American Lawn & Landscape Co., a profitable residential landscaping business based in the Greater Chicago area. The firm intends to use the business as a platform for future growth; the company provides recurring residential lawn maintenance, landscape installations and snow removal services.

PestCo Holdings, a platform backed by Thompson Street Capital Partners (TSCP), has acquired Pointe Pest Control – IL, LLC, which operates the Pointe Pest Control brand in Illinois and Green Pest Services in Virginia. The add-on expands PestCo’s residential and multifamily pest control footprint as part of TSCP’s consolidation strategy in the fragmented pest control industry; terms were not disclosed.

Highview Capital, LLC has acquired Watterson, a national facilities management and environmental services provider headquartered in Schaumburg, Illinois, with founder Billy Watterson and President Steve Peldiak retaining significant minority stakes. Stellus Capital Management provided unitranche financing and an equity co-investment to support the transaction. Highview says it will invest to scale Watterson's national coverage, expand service capabilities, and pursue strategic acquisitions.

GFL Environmental, Inc. has acquired the Waste Division of Peoria Disposal Company (PDC), expanding GFL's solid waste footprint in the U.S. Midwest. Terms were not disclosed; Brown Gibbons Lang & Company served as exclusive financial advisor to PDC.

Sweeping Corporation of America (SCA), the largest power sweeping company in the United States, has acquired Metro Commercial Sweeping of Dupo, Illinois. The acquisition expands SCA's service offerings and market presence in the greater St. Louis area by adding Metro’s parking lot sweeping, pressure washing and maintenance capabilities.

Waste Harmonics, a portfolio company of Arcapita, has acquired Contelligent (formerly OnePlus Systems) to integrate Contelligent’s intelligent container monitoring hardware and analytics with Waste Harmonics’ iWaste platform. The deal adds over 10,000 devices to Waste Harmonics’ network and is intended to expand the company’s service capabilities and global footprint across North America and international markets.

Circon Environmental, a portfolio company of Kinderhook Industries, acquired Water Integrated Treatment Systems (WITS), a two-facility centralized waste treatment provider headquartered in Dolton, Illinois. The add-on expands Circon's CWT footprint into the Chicago and Milwaukee markets (Dolton and Kenosha) to boost its centralized waste treatment capabilities and Great Lakes regional service offering; financial terms were not disclosed.

AQUALIS, a portfolio company of DFW Capital Partners, has acquired the assets of Front Range Environmental, LLC, a post-construction stormwater management company headquartered in McHenry, Illinois. The acquisition expands AQUALIS’s nationwide stormwater and lift station service footprint—adding Midwest and California presence and enabling self-performance capabilities across new geographies.

Lakeshore Recycling Systems (LRS), a privately held waste and recycling company based in Chicago, has acquired Maywood, Illinois-based Roy Strom Company, an independent waste hauler. The acquisition expands LRS's residential and commercial customer base and adds Single Stream and C&D recycling capabilities and a strategically located transfer facility in Maywood to support growth across Chicagoland and the Midwest.

J.F. Lehman & Company (via an investment affiliate) has acquired ENTACT, LLC, a national provider of environmental remediation and geotechnical services headquartered in Westmont, Illinois. ENTACT's management will remain meaningful shareholders and the company — which employs ~600 people — will join JFLCO's portfolio to support further growth and capability expansion in environmental and technical services.

Smithereen Pest Management Services acquired Service Termite & Pest Control (transaction completed end of 2019, announced Jan. 30, 2020), expanding Smithereen's footprint into Danville and Champaign‑Urbana, Illinois and Crawfordsville, Indiana. The deal brings Service Termite customers under Smithereen's integrated pest management platform while maintaining local service continuity.

Intergulf Corporation, a portfolio company of Kinderhook Industries, has acquired Beaver Oil Co., LLC, adding a CWT plant and RCRA Part B TSDF in Hodgkins, IL and a co-products and waste oil processing/storage facility in Gary, IN. The transaction is Intergulf's second add-on and expands the platform's geographic coverage into the Chicago refining market while increasing wastewater processing and hazardous liquids capabilities.