Buyout (LBO, MBO, MBI) • Environmental

ICV Capital Partners and Stellus Capital Management Acquire Environmental Remedies

On January 27, 2025, private equity firms ICV Capital Partners and Stellus Capital Management acquired environmental company Environmental Remedies

Acquisition Context
  • This is ICV Capital Partners’ 1st and Stellus Capital Management’s 2nd transaction in the Environmental sector.
  • This is ICV Capital Partners’ 32nd and Stellus Capital Management’s 76th transaction in the United States.
  • This is ICV Capital Partners’ 3rd and Stellus Capital Management’s 10th transaction in California.

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M&A Deal Summary

Date January 27, 2025
Target Environmental Remedies
Sector Environmental
Buyer(s) ICV Capital Partners
Stellus Capital Management
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Intrepid Investment Bankers (Financial)
Greenberg Glusker Fields Claman & Machtinger (Legal)

Target Company

Environmental Remedies

Hayward, California, United States
Environmental Remedies specializes in providing asbestos abatement services for remediation companies, insurance companies, and homeowners across the State of California. It focuses on the non-discretionary demand drivers of fire and water damage and is the go-to abatement partner in the industry. Environmental Remedies was formed in 2004 and is based in Hayward, California.
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Buyers Overview 2

Buyer

ICV Capital Partners

Miami, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

ICV Capital Partners is a private equity firm focused on making equity investments in US-based middle-market companies. ICV seeks control investments in companies with annual revenues between $25 and $300 million and EBITDA between $10 and $40 million. ICV prefers businesses with existing/proven management and operating in stable industries. Target transactions include non-core divestitures, take-privates, and acquisitions of private companies in partnership with management. ICV Capital Partners was founded in 1998 and has offices in New York and Atlanta, Georgia.


Deal Context for Buyer #
Overall 34 of 34
Sector: Environmental 1 of 1
Type: Buyout (LBO, MBO, MBI) 14 of 14
State: California 3 of 3
Country: United States 32 of 32
Year: 2025 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-26 Horizon Air Freight

Jamaica, New York, United States

Horizon Air Freight is a specialized freight forwarder focused on the marine industry serving leading U.S.and international shipping companies and cruise lines. Horizon Air Freight was founded in 1970 and is based in Jamaica, New York.

Sell -
Buyer

Stellus Capital Management

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 3.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Stellus Capital Management is a provider of debt and equity capital to middle-market companies headquartered throughout the US and Canada. For credit commitments, Stellus looks to provide $10 to $50 million of capital to help support buyouts, acquisitions, recapitalization, growth opportunities, rescue financing, distressed situations, as well as bridge loans. Sectors' of interest for Stellus' credit practice includes business services, energy, general industrial, government, healthcare, software and specialty finance. Stellus' equity practice seeks to provide $20 to $100 million to small and mid-sized energy (upstream, oilfield services, midstream) companies. Stellus Capital was originally formed in 2004 as Laminar Direct Capital and operated as the direct investing unit of D.E. Shaw. The Group became independent in 2012. Stellus has offices in Houston, New York City, and Washington DC.


Deal Context for Buyer #
Overall 79 of 87
Sector: Environmental 2 of 2
Type: Buyout (LBO, MBO, MBI) 22 of 23
State: California 10 of 10
Country: United States 76 of 84
Year: 2025 4 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-01-27 Plus Delta Partners

Carlsbad, California, United States

Plus Delta Partners provides specialized fundraising training and tools designed to enable higher education institutions, healthcare organizations, and other nonprofits to maximize donor contributions. Plus Delta Partners is based in Carlsbad, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-03-18 Strategus

Centennial, Colorado, United States

Strategus is a provider of programmatic connected TV (CTV) and omnichannel advertising solutions for digital agencies and direct brand clients. The company runs campaigns across streaming, mobile, and desktop platforms, using data-driven targeting and analytics to optimize audience engagement and campaign ROI. Strategus was founded in 2013 and is based in Centennial, Colorado.

Buy -