Lariat Partners Announces Sale of Ecoserv Industrial Disposal
DENVER, Dec. 18, 2018 /PRNewswire/ -- Lariat Partners ("Lariat"), a Denver-based private equity firm, announced the sale of Ecoserv Industrial Disposal, LLC (the "IDF" or the "Company"), a wholly owned subsidiary of Ecoserv, LLC ("Ecoserv:), to US Ecology, Inc. (NASDAQ-GS: ECOL) ("US Ecology").
Located in Winnie, Texas, the IDF is a leading non-hazardous industrial wastewater ("NIW") disposal solutions provider in the Gulf Coast region, offering economically efficient and environmentally safe disposal of a wide array of industrial waste streams. Utilizing deep-well injection technology, the Company operates several of the only commercial caprock injection wells fully permitted for difficult to treat Class 1 and 2 NIW streams, including solids, sludges, high metals, flammable exempt, leachate, and ammonia. Strategically located near key markets such as Houston and Beaumont, Texas and Lake Charles, Louisiana, the Company provides reliable disposal services to petrochemical, refinery, chemical, industrial, and environmental services customers.
Lariat made its original investment in Ecoserv in March 2014 and during its ownership undertook numerous strategic initiatives in partnership with Ecoserv's management to strengthen and improve the business. Lariat and Ecoserv focused on decentralizing the business into smaller more specialized units and then empowered the divisional management teams to invest in growing their individual business units. The IDF division experienced tremendous growth and success under this approach.
Kevin Mitchell, Co-Founder and Managing Partner of Lariat, said, "We are very pleased to complete this successful transaction and we would like to thank Yvonne Hudspeth, IDF's Divisional Manager. Under Yvonne's leadership, IDF became a leading NIW disposal solutions provider in the Gulf Coast region. This transaction enables Ecoserv to focus on both its core environmental cleaning and waste disposal services business as well as its Ecorobotics technology."
Brown Gibbons Lang & Company served as the exclusive financial advisor to Lariat and Ecoserv, and Perkins Coie served as legal advisor.
About Lariat Partners
Denver-based Lariat Partners is a private equity firm focused on partnering with business owners and entrepreneurs in the lower-middle market. With its CORE Investment Strategy targeting COnsolidations, COnsumables and REcurring revenue businesses, Lariat offers a differentiated approach to partnering with business owners and entrepreneurs and growing their middle market businesses. Using CORE, Lariat has invested in companies across many industries, including Food and Agribusiness, Energy and Environmental Services, Consumer Products and Services, Specialty Distribution, and Industrial Services. For more information, visit www.lariatpartners.net.
Contact: Chris Tofalli
Chis Tofalli Public Relations, LLC
914-834-4334
SOURCE Lariat Partners
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