Miller Environmental Acquires Belco

Miller Environmental Acquires Belco

Miller Environmental Services, a provider of industrial cleaning and environmental services and a portfolio company of Trinity Hunt since October 2014, has acquired Belco Industrial Services from Plexus Capital.

Belco Industrial Services is a specialty industrial services company serving the industrial, commercial, and governmental markets. The company provides mechanical services for the fabrication of tanks, pressure piping systems, and structural steel; lining and coatings services for chemical resistant rubber lining of tanks, vessels, piping, and equipment; industrial cleaning services including water blasting, hydro excavation, and cold cutting; and environmental services including tank cleaning, liquid/solid separation, waste minimization and sludge management.

Belco was founded as Bud Enterprise Lining Company in 1986 and changed its name in 2015. The company has facilities in Prairieville, LA (headquarters) and La Porte, TX (

Miller Environmental Services was founded in 1985 and provides industrial cleaning and environmental services to companies operating in the downstream, midstream, and upstream hydrocarbon processing markets. The company’s capabilities include vacuum truck services, tank cleaning, chemical cleaning, vapor control, hydro-blasting, waste management, and hydro-excavation. Miller has more than 400 employees at six facilities in Corpus Christi, TX (headquarters); Houston, TX; Beaumont, TX; Catarina, TX; Three Rivers, TX; and Sulphur, LA (

The buy of Belco will enable Miller to expand its offerings, particularly in mechanical services and lining and coatings services. The transaction will also allow Miller to expand its services into the chemicals market, an area in which Belco has deep customer relationships and expertise. Mike Rose, the current CEO of Belco, has been appointed as the COO of the combined Miller and Belco business following the acquisition.

Trinity Hunt is pursuing both an organic growth plan with a focus on expanding Miller’s operations along the Gulf Coast and pursuing add-on opportunities to expand the company’s geographic footprint and add complementary services to Miller’s existing services portfolio.

Trinity Hunt invests in companies that have EBITDAs between $5 million and $25 million and enterprise values between $25 million and $150 million. Sectors of interest include B2B business services, niche manufacturing, industrial services, non-cyclical consumer and healthcare services. Trinity Hunt is based in Dallas (

Plexus Capital, the seller of Belco, invests up to $40 million of subordinated debt and equity in companies that have revenues of up to $150 million and EBITDA of up to $20 million. The firm invests across all industries. Since its founding in 2005, Plexus has raised $950 million of capital and invested in 88 companies. Plexus has offices in Charlotte and Raleigh, NC (

© 2018 Private Equity Professional | March 9, 2018

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