RLJ Equity Partners has acquired EnviroVac Holdings, a provider of industrial cleaning, environmental services, and on-site maintenance support.
“EnviroVac is a trusted brand in the industrial services industry,” said Jerry Johnson, Managing Director of RLJ Equity Partners. “The company has a safety-first approach in providing the most innovative environmentally safe technology and quality operations to its clients and customers. We are excited about the opportunities underway at EnviroVac under R. Kevin Jackson’s leadership, and we look forward to assisting the company as it continues to offer a premium standard of service.”
EnviroVac utilizes state-of-the-art equipment to provide industrial vacuuming, hydroblasting, watercutting and inspection services for customers who participate in the pulp and paper, chemical, steel, oil and gas, power generation and other industrial business sectors. EnviroVac has a staff of more than 300 employees and 10 facility locations to serve customers throughout Alabama, Georgia, Mississippi, North Carolina and South Carolina, among other states. The company was founded in 1999 and headquartered in Savannah, GA (www.envirovac.us).
“We are delighted to join forces with RLJ Equity Partners, and I will be continuing my role as CEO as well,” said R. Kevin Jackson, EnviroVac founder, president and CEO. “Partnering with the RLJ brand will help EnviroVac continue to provide the safest and most professional services to our customers with optimal efficiency and support as we expand our services across the country, particularly throughout the Southeast and Gulf Coast regions.”
RLJ Equity Partners, LLC was joined in the transaction by Madison Capital Funding, New Canaan Funding and RLJ Credit, an affiliate of The RLJ Companies. EnviroVac was advised in the transaction by Farlie Turner & Co.
RLJ Equity Partners invests from $15 million to $30 million in companies valued between $50 million and $250 million. Target companies will have operating profits greater than $7 million and operating margins greater than 10%. Sectors of interest include aerospace & defense; auto & transportation; business services; consumer retail; general industrial; and media & telecom. RLJ Equity Partners was founded in 2006 by Robert L. Johnson in partnership with The Carlyle Group. The firm is headquartered in Bethesda, MD (www.rljequitypartners.com).
2014 PEPD • Private Equity’s Leading News Magazine • 6-13-14
