ABS Capital Portfolio Company Liquid Environmental Solutions is Acquired by Audax Private Equity

Date
Filed Under Business & Tech-Enabled Services, Portfolio Company News

BOSTON – Audax Private Equity announced that it has acquired Liquid Environmental Solutions from private owners.

LES, headquartered in Irving, TX, is a leading provider of non-hazardous liquid waste management and disposal services. Terms of the transaction were not disclosed.

Geoffrey S. Rehnert, Co-Chief Executive Officer, Audax Group, said, “LES is a leader in the non-hazardous grease trap, used cooking oil, and industrial liquid waste management industry. We look forward to working with Alan and the rest of LES’ management team to continue to grow the platform through organic growth and add-on acquisitions.”

Alan Viterbi, Chief Executive Officer of LES, said, “We are very excited about the partnership LES has formed with Audax. With greater resources committed to investing in LES’ continued growth, we look forward to the future at LES and what we can all do together as a team. We are excited to have Audax as our partner as we continue to grow and strengthen LES’ position as the premier provider of non-hazardous wastewater collection, processing, and disposal services in North America.”

Harris Williams & Co served as financial advisor to LES. Ropes & Gray LLP served as counsel to Audax.

ABOUT AUDAX PRIVATE EQUITY

Since its founding in 1999, Audax Private Equity has been focused on building leading middle market companies. Audax has invested $4.5 billion in 111 platform and 635 add-on companies. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. Audax Private Equity is an integral part of Audax Group, an alternative asset management firm specializing in investments in middle market companies. With offices in Boston, New York, and San Francisco, Audax Group has over $11.5 billion in assets under management across its Private Equity, Mezzanine, and Senior Debt businesses. For more information, visit the Audax Group website, www.audaxgroup.com.

ABOUT LIQUID ENVIRONMENTAL SOLUTIONS

LES, one of the largest non-hazardous U.S. wastewater collection, processing, and disposal companies, is known for innovation and leadership in protecting customers from liability and ensuring regulatory compliance, while minimizing their environmental footprint. Focused on servicing customers’ non-hazardous liquid waste needs, LES collects, treats, and beneficially recovers materials from a wide variety of waste sources, including grease traps, oil water separators, grit traps, industrial and manufacturing processes, and used cooking oil for the restaurant, hospitality, automotive maintenance, manufacturing, power plant, petrochemical, and ship-building and repair industries, as well as environmental services companies. With over 650 team members, a state of the art fleet of more than 300 trucks, 54 collection branches and 23 wastewater treatment plants, LES is positioned to meet customers’ diverse liquid waste needs throughout the United States.

Latest News

ABS Capital Adds Apptopia to Portfolio of Growth Companies

Date
Filed Under Business & Tech-Enabled Services, About Us, ABS Capital News

BOSTON, MA (May 11, 2021) – Apptopia Inc., the leader in real-time competitive intelligence, today announced the close of a $20 million financing round led by ABS Capital Partners with participation from existing investors, including Blossom Street Ventures. The company has been profitable for the past year while growing revenue 50% year-over-year for the past

Read More
ABS Capital Partners Here We Grow

ABS Capital Partners Promotes Bion Ludwig to General Partner and Welcomes Marla Blow as Portfolio Advisor

Date
Filed Under About Us, ABS Capital News

Ludwig, who joined ABS in July 2020 as a venture partner, will continue sourcing exciting new investment opportunities and providing strategic support to ABS’s portfolio companies.  Blow, who currently serves as President and Chief Operating Officer of the Skoll Foundation, is working with ABS to connect the firm with strong growth companies and executives from

Read More
Exec Online Logo

ABS Portfolio company ExecOnline Raises a $45 million growth equity round with participation from ABS Capital

Date
Filed Under Business & Tech-Enabled Services, About Us, Portfolio Company News

ExecOnline partners with elite business schools like Berkeley Haas, Columbia, Stanford GSB, and Wharton, and leverages its unique applied learning approach and proprietary online platform to deliver participant completion rates above 90%, impressive NPS scores, and strong ROI for the enterprise. The funding will be used to accelerate growth by investing in sales and marketing,

Read More
Back to Top

Want to hear it first?

Sign up to receive ABS news
  • This field is for validation purposes and should be left unchanged.