Tracked deals
1040
1040 tracked deals across 2005-2026.
Tracked deals
1040
1040 tracked deals across 2005-2026.
Buyer mix
Mixed buyer set
1005 pe · 690 strategic
Top trend
Volume peaked in 2024
191 tracked deals announced in 2024.
Buyer Snapshot
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| Kinderhook Industries, LLC | 25 | Middle-market private investment firm focused on healthca... | PE |
| PestCo Holdings, LLC | 16 | Growth-oriented national provider of pest control service... | Strategic (PE-backed) |
| Sterling Investment Partners | 16 | Middle-market private equity firm focused on control inve... | PE |
| Thompson Street Capital Partners | 16 | St. Louis-based private equity firm focused on founder-le... | PE |
| Gryphon Investors | 15 | Middle-market private equity firm focused on building and... | PE |
| Verdantas | 15 | Digitally enabled technical consulting and engineering fi... | Strategic (PE-backed) |
| Halle Capital | 14 | Lower-middle market, growth-oriented private equity firm ... | PE |
| Fort Point Capital | 13 | Private equity firm that targets fragmented business serv... | PE |
| HCI Equity Partners | 12 | Lower middle market private equity firm focused on partne... | PE |
| Landscape Workshop | 12 | Commercial landscape and outdoor property management plat... | Strategic (PE-backed) |
Last 10 years
Supporting Data
Greybull Stewardship acquired Mid-West Textile, a U.S. textile collection and recycling company headquartered in El Paso, Texas. Greybull plans to provide capital and operational support to help the company grow, including expanding its Thrift Town retail stores.
Trivest Partners-backed Total Sanitation Services acquired Spanky's Portable Toilets, a Tuscaloosa, Alabama-based provider of portable sanitation rentals and related services. The acquisition expands TSS into Alabama, with Spanky's continuing under its local leadership and gaining access to TSS's operational resources and purchasing scale.
Rochester Midland Corporation acquired ApHinity Technologies, a La Habra, California-based environmental engineering company specializing in water footprint optimization and industrial air emissions treatment. The acquisition adds ApHinity’s patented technologies and services to Rochester Midland’s water treatment platform, broadening the solutions available for complex water and air quality challenges.
Kian Capital Partners acquired Integrity Landscape, a commercial landscaping services provider operating across the San Francisco Bay Area. Integrity employs more than 385 professionals and provides recurring maintenance and enhancement services; founder Rich Bronstein will remain involved as an investor and board member, while CEO Raitis Raisian and the regional leadership team continue to lead the business.
LMC Landscape Partners acquired Helping Hand Lawn Care, a full-service commercial landscaping company serving Central Florida. Helping Hand will retain its brand, while its employees and leadership join LMC’s Florida operations, establishing LMC’s presence in the Central Florida market.
LMC Landscape Partners added landscape professionals, customer relationships, and operational resources from Nash Landscaping to strengthen LMC Houston’s existing Greater Houston operations. The announcement describes this as a Nash acquisition and says it supports LMC’s strategy of building density in priority markets.
Fortress Pest Brands, a pest-control platform backed by Riverarch Equity Partners, acquired Miche Pest Control, a residential and commercial pest management provider serving the Washington, D.C., Maryland, and Northern Virginia region. Founded by Tom Miche, the company operates nearly 20 locations; the acquisition expands Fortress’s regional platform and supports its strategy of partnering with local pest management businesses.
Platinum Equity has completed the sale of Urbaser, a Madrid-based environmental infrastructure and waste management company, to Blackstone and EQT for approximately $6.6 billion (€5.6 billion). The deal follows Platinum Equity’s 2021 acquisition and a multi-year operational and financial transformation focused on expanding waste treatment capabilities and contracted revenue.
Erthwrks, a provider of environmental compliance services, announced it has acquired Arktos Environmental, an Optical Gas Imaging (OGI) and Leak Detection and Repair (LDAR) services company. The acquisition expands Erthwrks’ air compliance capabilities by combining Arktos’ OGI expertise with Erthwrks’ existing LDAR, source, testing, engine testing, and ambient air monitoring services for nationwide customers.
CAI Capital Partners’ portfolio company Kintera has joined forces with Alberta-based environmental remediation and reclamation consulting firm TerraLogix Solutions. TerraLogix will operate as a subsidiary of Kintera, with founders Jody Stevens and Cameron Mackee continuing to lead the business.
Kinderhook Industries acquired Pete & Pete Container Service and Boyas Recycling & Excavating, forming a vertically integrated construction and demolition (C&D) waste collection, recycling, and disposal platform in Northeast Ohio. The combined platform operates collection (roll-off/front-load), a material recovery facility (MRF), and internalized landfill disposal to capture value across the full chain, with the Ristagno family and leadership team staying in place.
Liberty Tire Recycling, backed by I Squared Capital, announced the acquisition of All American Tire, Colt Tire Recycling, and Genan, Inc. The deals expand Liberty’s Gulf Coast footprint—enhancing tire collection and recycling capacity across Texas and Louisiana and increasing output of recycled rubber products.
Morgan Stanley Investment Management, through Morgan Stanley Infrastructure Partners (MSIP), has entered into exclusivity and committed to acquire a majority stake in Nicollin Environnement. Nicollin, a family-owned French environmental services platform, is expected to continue with the Nicollin family remaining invested alongside MSIP as the company advances growth, operational excellence, and fleet decarbonization.
I Squared Capital entered into a definitive agreement to acquire Milestone Environmental, an independent energy and industrial waste management platform, from SK Capital Partners. The deal is expected to close in 4Q 2026, subject to customary closing conditions and regulatory approvals; financial terms were not disclosed.
I Squared Capital and a consortium of TPG and Canada Pension Plan Investment Board (CPPIB) have emerged as final contenders to acquire a controlling stake in KKR-backed Re Sustainability Ltd. The waste-management and environmental services company is expected to be valued at more than $1.6 billion, with binding bids due in the next 10–15 days.
TPG has signed definitive agreements to simultaneously acquire Waste Eliminator (Georgia and South Carolina) and Liberty Waste Solutions (North Carolina) from Allied Industrial Partners. Through its TPG Transition Infrastructure strategy, TPG plans to combine the two regional operators into a diversified Southeast waste infrastructure platform with 14 permitted facilities and more than 500 fleet vehicles.
Kian Capital-backed SPATCO Energy Solutions completed the acquisitions of Discovery Tank Testing Inc. and Tank Wizards Inc., expanding SPATCO’s environmental compliance/testing and tank-cleaning capabilities in Florida. SPATCO said the deals are part of the platform’s ongoing growth strategy following its 2024 single-asset continuation fund closing.
Benford Capital Partners recapitalized CGRS, Inc., a Fort Collins, Colorado-based testing, inspection, certification and compliance (TICC) provider serving regulated environmental end markets across the Western United States. The transaction is done in partnership with Founder and CEO Eric Hick, who retains an ownership interest, and Benford plans to expand geographically and pursue add-on acquisitions of complementary environmental compliance and monitoring businesses.
Liberty Waste Solutions, backed by Allied Industrial Partners, has acquired M&M Garbage Disposal, a subscription-based residential waste collector headquartered in Asheboro, North Carolina. The deal strengthens Liberty’s residential route density in North Carolina’s Triad market, with M&M’s service area overlapping Liberty’s existing footprint to enable route absorption without incremental capital expenditures.
Aventia, a Bernhard Capital Partners portfolio company, announced it has acquired ECM Consultants, a Louisiana-based engineering, architectural, and construction management firm focused on infrastructure and resilience projects. The deal strengthens Aventia’s environmental and engineering capabilities and expands its Gulf South presence.
WSB LLC announced the acquisition of Alta Science & Engineering, Inc., a science and engineering firm focused on environmental and infrastructure solutions across the western United States. The deal strengthens WSB’s environmental and natural systems capabilities and expands its geographic presence in the Pacific Northwest, with integration and a coordinated go-to-market approach planned for 2026.
North Water District Laboratory Services, Inc. (NWDLS) was sold to SPL, a portfolio company of Sentinel Capital Partners. The deal’s financial terms were not disclosed. NWDLS provides environmental laboratory testing and analytical services for municipal utility districts, engineering firms, industrial customers, and government entities in Texas.
Integrated Water Services, Inc. (IWS) acquired Complete Filtration Resources, a process filtration and industrial wastewater solutions provider with deep expertise in the food and beverage dairy sector. The deal closed on May 12, 2026 and expands IWS’s capabilities across process filtration through wastewater treatment, including MBR/aeration technologies and related digital monitoring services.
TIGRIS Aquatic Services, LLC acquired Charles Aquatics, Inc., an aquatic management company based in Jacksonville, Florida. The deal expands TIGRIS’s presence in Florida and the broader Southeastern United States, adding capabilities in aquatic vegetation control, water quality management, and fountain/aeration system installation and maintenance.
Liberty Waste Solutions, backed by Allied Industrial Partners, acquired Randolph County Garbage Services, a residential subscription waste collection operation in Asheboro, North Carolina. The acquisition expands Liberty’s presence in the North Carolina Piedmont Triad/Greensboro region and builds on its prior AJ Disposal acquisition, increasing residential route density.
Fusion Capital Partners has acquired AQUALIS, a provider of stormwater and wastewater management, engineering, and compliance services, from DFW Capital Partners. Financial terms were not disclosed. The transaction is described as Fusion’s first platform acquisition of 2026 and its fourth platform investment overall.
The Amlon Group, backed by Heartwood Partners, acquired Excel TSD of Tennessee LLC (along with related entities WSI and UTI). The deal expands Amlon’s hazardous and non-hazardous waste treatment, storage, and disposal capabilities and strengthens its geographic presence in the Mid-South region.
Concentric Equity Partners has acquired Straight Flush Rentals, a Calgary-based provider of portable sanitation, septic, and temporary fencing services. The purchase expands Concentric’s waste management platform, Collective Waste Solutions, backed since 2025 alongside MWM Environmental, and strengthens its Calgary footprint through an add-on strategy.
Cognesense, a platform company of L Squared Capital Partners, announced the acquisition of Pioneer Safety Group (PSG). The deal expands Cognesense’s certified explosion protection and hazardous-area compliance capabilities and extends its UK and European manufacturing/engineering footprint through PSG’s brands (Pyroban, Pyropress, Ex-tech, Petrel, and ExSolutions).
A Mid-Atlantic-based environmental services company providing stormwater management, ecological restoration, erosion control, and water quality management was acquired by an environmental services portfolio company owned by a Florida-based private equity firm. Calder Capital’s buy-side team sourced the deal and served as the exclusive buy-side M&A advisor to the acquirer.
Miller Environmental Group, a Coalesce Capital portfolio company, completed the acquisition of Haz-Mat Environmental Services and Canco. The deal expands Miller’s vertically integrated industrial and waste services platform by adding geographic density and complementary capabilities across key U.S. Southeast markets.
Goldner Hawn acquired Lone Star Environmental Companies. The deal expands Goldner Hawn’s environmental/water-services platform through a new investment focused on the Lone Star region.
Liquid Environmental Solutions (LES), a Goldman Sachs-backed liquid waste recycler, acquired New Orleans Grease Trap Cleaning (NOL), a grease trap and used cooking oil cleaning services provider based in New Orleans. The deal is positioned as an add-on to LES’s non-hazardous wastewater collection and recycling network, expanding coverage in the Gulf Coast region.
Fort Point Capital completed a recapitalization of Boston Green Company, partnering with Boston Green’s founders and management team. The investment is intended to support growth of the environmental services provider’s hazardous and non-hazardous waste transportation and disposal, industrial cleaning/maintenance, and emergency response capabilities, including further geographic expansion.
Bennett West (a Pike Street Capital portfolio company) made a strategic add-on investment in California Water Services (CWS), a Coalinga, California provider of irrigation and municipal water treatment services, including its Green Leaf Ag division. The deal expands Bennett's water-treatment and irrigation capabilities across California's Central Valley and aligns with Pike Street Capital's sector-focused add-on strategy to broaden platform services and accelerate organic growth.
Riverview Landscapes, a PE-backed landscaping platform owned by management and Talus Holdings, has acquired Cleveland Brothers Landscaping, Inc., a Corinth, New York-based provider of landscape maintenance, hardscaping, fertilization, and snow removal services. The acquisition expands Riverview’s presence in the greater Albany/Saratoga market, relocates Riverview’s Albany branch into Cleveland Brothers’ larger Corinth facility, and transitions ownership from founders Terry and Kevin Cleveland to Riverview.
EQT Infrastructure VI and funds managed by Blackstone Infrastructure have agreed to acquire Urbaser from Platinum Equity in a transaction valued at approximately $6.6 billion (€5.6 billion). The parties plan to jointly support Urbaser’s growth across municipal and industrial waste management, with a focus on expanding the fast-growing industrial waste segment and strengthening core municipal operations.
ALL4 LLC, a portfolio company of Levine Leichtman Capital Partners, has acquired Tora Consulting LLC, an environmental and engineering consulting firm based in Columbia, South Carolina. The deal adds Tora’s ~15 environmental professionals and expands ALL4’s capabilities in air quality, permitting, and regulatory compliance while broadening its national footprint.
EQT-backed EnviroVac is merging with Silver Oak-backed Vecta Environmental Services to create a larger environmental services platform. The combination is expected to expand capabilities and geographic footprint in industrial cleaning and environmental services.
Liberty Waste Solutions, a North Carolina waste and recycling provider backed by Allied Industrial Partners, has acquired AJ Disposal, a residential and commercial front-load operator based in Asheboro, North Carolina. The add-on expands Liberty's footprint in the Asheboro and greater Greensboro markets; financial terms were not disclosed.
The Amlon Group, backed by Heartwood Partners, acquired Mastermelt America LLC. The acquired Sweetwater, Tennessee facility is now operating as Amlon Sweetwater and adds thermal processing and chemical dissolution capabilities for complex industrial waste streams.
J.F. Lehman & Company (through an investment affiliate of JFL Equity Investors VI, L.P.) acquired majority stakes in Reclamation Technologies USA, LLC (RTI) and Tradewater LLC & Affiliates to form a new growth-oriented environmental services platform. The combined platform is focused on lifecycle management of industrial and refrigerant gases and mitigating uncontrolled methane sources through closed-loop collection, processing, reclamation, and destruction capabilities.
Kinderhook Industries closed a $1 billion single-asset continuation vehicle transaction, forming Ecowaste Solutions by combining Live Oak Environmental and CARDS Recycling and securing more than $400 million of new equity from participating funds including Goldman Sachs Alternatives and Apollo S3. The new Dallas‑headquartered platform will operate collection and post‑collection waste services across nine Mid‑South states, serving over 400,000 customers and pursuing organic growth and additional acquisitions.
Gillson Sciences, a Chicago-based laboratory testing and scientific solutions provider and portfolio company of Keystone Capital Management, has acquired SanAir Technologies Laboratory, an accredited environmental and industrial hygiene testing laboratory headquartered in Richmond, Virginia. The add-on expands Gillson's capabilities into environmental testing (air, asbestos, Legionella, lead/metals, industrial hygiene) and broadens its service offering across environmental and industrial end markets.
Waste Eliminator, a metro Atlanta waste and recycling services provider backed by Allied Industrial Partners, has acquired Happy Haulers. The deal expands Waste Eliminator’s downtown Atlanta presence by increasing route density and strengthening frontload and municipal solid waste (MSW) collection capabilities. Financial terms were not disclosed.
Sylmar Group has acquired Atlantic Water Management, a New England industrial water treatment provider founded by Kevin Rabbitt. The deal expands Sylmar's regional footprint and adds Atlantic Water's cooling and boiler treatment capabilities to Sylmar's family of water services companies.
TIC Holding Schweiz AG, a Winterberg-backed buy-and-build platform, has acquired HSE Conseils SA, a La Tène (Neuchâtel)–headquartered specialist in construction pollutant diagnostics, environmental services and occupational health and safety with seven Swiss sites. Founder and former owner Marc Dutoit is reinvesting at the holding level and will remain CEO; the deal expands TIC Holding Schweiz's construction safety/environment platform and French-speaking Switzerland footprint as part of its broader roll-up strategy.
Paladin EnviroTech, a global IT asset disposition (ITAD) and electronics recycling provider backed by SER Capital Partners, has acquired Netherlands-based R&L Recycling B.V., marking Paladin’s first European acquisition. The deal gives Paladin a 129,000 sq. ft. Helmond facility and local management to serve hyperscalers, OEMs and other European customers; financial terms were not disclosed.
United Land Services, a Jacksonville-based landscaping platform backed by Centre Partners and LP First Capital, completed four add-on acquisitions that closed in 2025. The targets—Wrightsville Beach Landscaping (Wilmington, NC), H&O Grounds (Baton Rouge/New Orleans, LA), Custom Tree Surgeons (Jacksonville, FL) and an undisclosed rust-removal provider in South/Central Florida—expand United's geographic footprint and service capabilities; terms were not disclosed.
SLR International Corporation (SLR) has acquired WAP Sustainability, LLC, a Nashville-based sustainability consulting and ESG data solutions firm. The deal brings nearly 100 WAP employees and enhances SLR's sustainability consulting, product‑sustainability and ESG data capabilities to serve building products, packaging, textiles, electronics and consumer goods clients.
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