Growth Capital • Environmental

Squire Ridge Company, JWI Capital and Kirtland Capital Partners Invest In Enviroscience

On July 19, 2017, private equity firms Squire Ridge Company, JWI Capital and Kirtland Capital Partners invested in environmental company Enviroscience

Investment Context
  • This is Squire Ridge Company’s 1st, JWI Capital’s 1st and Kirtland Capital Partners’ 1st transaction in the Environmental sector.
  • This is Squire Ridge Company’s 3rd, JWI Capital’s 4th and Kirtland Capital Partners’ 22nd transaction in the United States.
  • This is Squire Ridge Company’s 1st, JWI Capital’s 2nd and Kirtland Capital Partners’ 4th transaction in Ohio.
Investment Fate
  • Enviroscience was sold to a strategic buyer in 2021.

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Investment Summary

Date July 19, 2017
Target Enviroscience
Sector Environmental
Investor(s) Squire Ridge Company
JWI Capital
Kirtland Capital Partners
Deal Type Growth Capital
Advisor(s) Western Reserve Partners (Financial)

Target Company

Enviroscience

Stow, Ohio, United States
Enviroscience provides biomonitoring, environmental compliance, restoration, and commercial diving services to federal, state, and municipal governments, the power industry, manufacturing, and private clients throughout the U.S. and Canada. Enviroscience was founded in 1988 and is based in Stow, Ohio.
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Investors Overview 3

DESCRIPTION

Squire Ridge Company is a private investment firm that seeks both controlling and non-controlling stakes in privately held niche manufacturing, value-added distribution and select service companies. The Firm generally pursues platform opportunities throughout the Midwest US but will consider add-on opportunities throughout North America. Prospective transaction situations include recapitalizations, management-led buyouts, and underperforming, but fundamentally solid companies. Squire Ridge Company was formed in 2013 and is based in Cleveland, Ohio.


Deal Context for Investor #
Overall 3 of 4
Sector: Environmental 1 of 1
Type: Growth Capital 1 of 1
State: Ohio 1 of 1
Country: United States 3 of 4
Year: 2017 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-03 Dutchland Plastics

Oostburg, Wisconsin, United States

Dutchland Plastics is a provider of custom rotational molding services and related secondary operations to a wide range of customers across a diverse cross section of markets including, but not limited to, recreational equipment, industrial equipment, and lawn and garden. Dutchland Plastics was founded in 1967 and is based in Oostburg, Wisconsin.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-03 Louver Shop

Gainesville, Georgia, United States

Louver Shop is a provider of custom shutters and other window coverings throughout the Southeastern United States. The Company manufactures all of its products domestically in a 70,000 square foot plant in Dahlonega, GA, and produces more panels than any other domestic shutter company. Louver Shop was founded in 1972 and is based in Gainesville, Georgia.

Buy -
Investor

JWI Capital

Twinsburg, Ohio, United States

Investor Investor


Category Private Equity Firm
Founded 2009
Size Small
Type Sector Agnostic
DESCRIPTION

JWI Capital is a 'hands on' investment firm focused on microcap businesses operating in Northeast Ohio and neighboring regions. The Firm takes an operationally focused approach in actively managing and improving the growth of portfolio investments. JWI's ideal acquisition target has revenues of $5 to $50 million and EBITDA between $1 and $5 million. The Firm looks for opportunities in the defense, aerospace, energy, infrastructure, transportation and general industrial sectors. JWI Capital was formed in 2009 and is based in Cleveland, Ohio.


Deal Context for Investor #
Overall 4 of 4
Sector: Environmental 1 of 1
Type: Growth Capital 2 of 2
State: Ohio 2 of 2
Country: United States 4 of 4
Year: 2017 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-15 Allegheny Performance Plastics

Leetsdale, Pennsylvania, United States

Allegheny Performance Plastics is a preeminent injection molder of exotic and high-performance thermoplastics serving Fortune 100 customers. Allegheny Performance Plastics was founded in 1936 and is based in Leetsdale, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-23 Enviroscience

Stow, Ohio, United States

Enviroscience provides biomonitoring, environmental compliance, restoration, and commercial diving services to federal, state, and municipal governments, the power industry, manufacturing, and private clients throughout the U.S. and Canada. Enviroscience was founded in 1988 and is based in Stow, Ohio.

Sell -
Investor

Kirtland Capital Partners

Orange Village, Ohio, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1977
PE ASSETS 300M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Kirtland Capital Partners (KCP) is a private equity firm focused on acquiring mature businesses operating in the US or Canada. KCP looks to be the lead investor in control positions in companies with significant barriers to entry, stable cash flows, and a strong market position. Sectors of interest include niche manufacturing, distribution, and business-to-business service companies. Kirtland was formed in 1977 and is based in Beachwood, Ohio.


Deal Context for Investor #
Overall 22 of 24
Sector: Environmental 1 of 1
Type: Growth Capital 1 of 1
State: Ohio 4 of 4
Country: United States 22 of 23
Year: 2017 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-15 MicroGroup

Medway, Massachusetts, United States

MicroGroup, Inc. is a manufacturer of precision medical components and sub-assemblies with expertise in difficult-to-manufacture, small diameter stainless steel tubing. The Company offers a comprehensive, integrated suite of 50+ in-house precision metal production operations supporting the full product life cycle from prototype to production. MicroGroup's customers include more than half of the world's largest medical device and analytical instrument companies across analytical and diagnostic instruments, cardiology, gastroenterology and endoscopy, neurology and spinal, and orthopedic and sports medicine segments.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-25 SmartSource Computer & Audio Visual Rentals

Hauppauge, New York, United States

SmartSource Computer & Audio Visual Rentals (Old) is a provider of short-term computer and technology rentals and related services. SmartSource Computer & Audio Visual Rentals (Old) was founded in 1984 and is based in Hauppauge, New York.

Sell -