Environmental Services Acquisitions in Kentucky

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Gauge Capital has acquired Aphix, LLC, a commercial landscape services provider in the southeastern United States, from Caltius Equity Partners. The transaction represents an exit for Caltius and positions Gauge to continue scaling Aphix's regional footprint and recurring service platform.

Valicor Environmental Services, a Pritzker Private Capital‑backed provider of centralized wastewater treatment, has acquired the Louisville-area wastewater and sludge-hauling operations known as Affordable Waste Management from Grasslands Environmental Services. The acquisition expands Valicor's Midwest footprint and enhances its leachate processing and reclamation capabilities.

Visterra Landscape Group has acquired Florence, Kentucky-based Cru Cutters in a tuck-in add-on to expand its northern Kentucky footprint; financial terms were not disclosed and the transaction is effective immediately. The acquisition provides a strategic branch for Visterra partner companies GroundsPRO and Oberson's to expand commercial landscaping and snow & ice removal services in the region.

Funds managed by SER Capital Partners completed the acquisition of Charah Solutions, Inc., a Louisville-based provider of environmental remediation, ash management and byproduct recycling services to the power generation industry, for $6.00 per share. The transaction (approved July 12, 2023) takes Charah private from Bernhard Capital Partners and other shareholders; Charah's outstanding 8.50% Senior Notes remain obligations of the company and the business will continue operating under SER with its existing management and nearly 600 employees.

Caltius Equity Partners has made a significant growth investment in APHIX, a founder-owned commercial landscaping services provider operating in Kentucky and Tennessee. The capital will support APHIX's organic growth and platform build, with Caltius planning to pursue add-on acquisitions to expand maintenance revenue and market footprint.

Rockbridge Growth Equity has acquired Louisville-based Protect Environmental and will integrate it into its national environmental services platform currently operating as RB Home Services, retiring the RB Home Services name in favor of the Protect Environmental brand. Protect Environmental — a leader in radon and chemical vapor intrusion consulting and mitigation — will serve as the cornerstone of the platform's expanded commercial capabilities and will relocate its headquarters to Louisville, Kentucky, with CEO Kyle Hoylman remaining in leadership.

Resource Environmental Solutions (RES) has acquired Redwing Ecological Services Inc., a Louisville-based ecological services firm that provides wetland, stream, and endangered species permitting and mitigation support. The Redwing team will continue operating from its Louisville office as RES expands its turnkey restoration, mitigation banking, and long-term stewardship capabilities across Kentucky and neighboring states.

ALL4, a portfolio company of JMH Capital Partners, has acquired Smith Management Group (SMG), a Kentucky-based environmental consulting firm founded in 1989. The deal expands ALL4's geographic footprint into Kentucky and strengthens its air quality and multimedia EHS capabilities to better serve clients across heavily regulated industries.

HEPACO, a Gryphon Investors–backed provider of emergency response and environmental services, has acquired Evergreen AES Environmental Services from Jerry McCandless, Kendrick McCandless, and Jennifer Lanham. The acquisition adds Evergreen AES's four regional locations and capabilities (remediation, emergency response and waste management), expanding HEPACO's footprint across the Mid-Central and Midwest and bringing the combined company to nearly 850 employees and 49 locations.