Global infrastructure fund manager I Squared Capital is acquiring Milestone Environmental, a provider of waste management solutions for the energy and industrial sectors in the US.
I Squared has agreed to acquire the environmental infrastructure company from SK Capital Partners for an undisclosed sum.
Founded in 2014, Milestone is a Houston-headquartered waste management specialist operating 15 permitted facilities across the Permian, Eagle Ford and Haynesville basins.
The company provides liquid and solid waste treatment and disposal solutions for oil and gas production streams.
Gautam Bhandari, managing partner and CIO at I Squared Capital, said: “Energy waste management is an essential but often underappreciated part of the energy value chain, providing the critical environmental infrastructure that enables safe and responsible oil and gas production.
”With its leading position in the Permian Basin, comprehensive treatment and disposal capabilities, a growing platform in industrial waste management and strategically located network of permitted facilities, Milestone is well positioned to benefit from the long-term fundamentals supporting US energy production and reindustrialisation.”
Gabriel Rio, founder, president and CEO at Milestone Environmental, said: “We have spent twelve years building and operating critical environmental infrastructure serving important oil and gas basins in the US, delivering safe, reliable and innovative waste management solutions that our customers depend on every day.
“We are grateful for our partnership with SK Capital, whose support helped accelerate the growth and development of our platform.”
Jack Norris, managing director at SK Capital, said: “It has been a privilege to partner with Gabriel Rio and the entire Milestone team.
“Over the last three years, we’ve repositioned the company by enhancing its market leadership, adding new capabilities and expanding into new markets. We believe Milestone is well positioned to thrive under I Squared’s ownership.”
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