Coalesce Capital to acquire Miller Environmental

Coalesce Capital, a New York-based private equity firm, has entered into a definitive agreement to acquire Miller Environmental Group Inc., a Calverton, New York-based provider of waste, industrial and environmental services across the United States, from GenNx360 Capital Partners.

“We are thrilled to partner with Coalesce Capital in our next phase as we continue to leverage the market reputation, capability set and nationwide footprint of the Miller platform,” Miller Environmental CEO Rudy Streng says. “With the Coalesce team’s experience building businesses in the services sector, we are poised to accelerate our growth in the next chapter. We would also like to thank our partners at GenNx360 Capital Partners for their contributions and strategic insight over the past several years.”

Coalesce says it will support Miller’s next phase of growth through investments in human capital, technology and add-on acquisitions to expand the company’s branch and facility network and service to its customers.

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“Waste, industrial and environmental services represents a highly attractive investment opportunity, driven by essential spending, regulatory tailwinds and market fragmentation,” says Stephanie Geveda, founder and managing partner at Coalesce Capital. “Miller serves more than 1,800 customers with its complementary services and national reach. We look forward to partnering with Rudy and the management team during the company’s next phase of growth.”

Miller operates 30 locations throughout the United States and offers waste, industrial and environmental services, with 22 field service branches and a portfolio of 10-day transfer facilities and treatment, storage and disposal facilities for waste processing.

“Miller is differentiated by its vertically integrated delivery model, market reputation for quality and safety, and broad service offering,” adds Curtis Roby, managing director at Coalesce Capital. “We aim to capitalize on these strengths to accelerate Miller’s growth trajectory.”

Stifel and Houlihan Lokey served as financial advisors, and Winston & Strawn LLP served as legal advisor to Miller and GenNx360. Brown Gibbons Lang & Co. served as financial advisor, and Greenberg Traurig served as legal advisor to Coalesce Capital.

Financial terms of the transaction were not disclosed.