VLS Environmental Solutions Acquires Texas Molecular

News provided by

Jan 10, 2023, 08:30 ET

HOUSTON, Jan. 10, 2023 /PRNewswire/ -- VLS Environmental Solutions, a Houston-based environmental services company and a portfolio company of I Squared Capital, has acquired Texas Molecular, one of the largest independent providers of industrial waste sequestration services in the United States. With the acquisition, VLS has expanded its environmental services capabilities into hazardous waste processing and sequestration to serve the diverse and growing needs of its industrial customers across North America.

With facilities in Deer Park and Corpus Christi, Texas, Texas Molecular specializes in handling, treatment, and sequestration of various liquid hazardous and non-hazardous industrial wastes. The company manages over 75 million gallons annually under its EPA RCRA and UIC Class 1 Hazardous Waste permits using industry-tested and efficient technology to sequester waste safely and permanently. Texas Molecular has a long track-record of operational excellence and safety performance that VLS is committed to maintaining. Chris Lobue and Jimmy Bracher have joined VLS to spearhead the company's expansion into hazardous waste processing and sequestration, with Chris joining VLS as Vice President of Hazardous Waste and Jimmy as Vice President of Hazardous Waste Sales.

John Magee, Chief Executive Officer of VLS, commented, "We are excited to expand our suite of environmental services to include hazardous waste processing. This acquisition is a great strategic fit for VLS and consistent with our vision of building a leading environmental services platform in North America. Chris, Jimmy, and their team have earned the trust of their customers for more than four decades by providing safe and reliable waste sequestration for a wide variety of waste types and we welcome them to the VLS team."

"This acquisition is a big win for all the stakeholders involved, including our customers, vendors, and employees," said Chris Lobue, Chief Executive Officer of Texas Molecular. "Becoming part of VLS will allow our customers and employees to benefit from a larger environmental services platform with greater resources to support growth. We couldn't be more pleased with the outcome."

The combined company has over 1,000 employees and 38 locations nationwide. The acquisition of Texas Molecular is the eleventh acquisition by VLS since 2017 and third in the last twelve months. VLS is actively pursuing both organic and inorganic opportunities to continue to expand its environmental services capabilities to support the waste processing needs of its customers.

Brown Gibbons Lang & Company served as exclusive financial advisor and Nathan Sommers Jacobs P.C. & Kelley Drye & Warren LLP served as legal advisors to Texas Molecular. Houlihan Lokey served as exclusive financial advisor and Kirkland & Ellis LLP served as legal advisor to VLS and I Squared Capital.

About VLS Environmental Solutions

VLS Environmental Solutions is a leader in sustainability solutions, with three divisions providing industry-leading services. The company's Waste Services division provides customized waste processing solutions for hazardous and non-hazardous industrial and commercial waste, including landfill diversion and sustainability programs, solidification of liquid waste, recycling, wastewater treatment, and waste sequestration. The company's Railcar Cleaning and Repair Services division provides specialty cleaning services for difficult-to-clean products, including chemicals, hardened materials, and pressurized gases, and comprehensive repair services for certified full-service repairs, tank car qualifications, and maintenance. The company's Marine Services division offers state-of-the-art barge cleaning, repair, and gas-free facilities for various chemical solvents and downstream petroleum products. VLS has over 1,000 employees in 38 locations across North America. For more information about VLS, visit www.vlses.com.

About I Squared Capital

I Squared Capital is an independent global infrastructure investment manager with over $36 billion in assets under management focusing on utilities, digital infrastructure, energy, transport, environmental infrastructure and social infrastructure in North America, Europe, Latin America and Asia. Founded in 2012, the firm has offices in Miami, London, New Delhi, Hong Kong, Singapore, Sydney and Taipei.