I Squared Capital to acquire VLS Environmental Solutions

I Squared Capital, a global infrastructure investment manager, announced that it has signed a definitive agreement, through its ISQ Global Infrastructure Fund III, to acquire VLS Environmental Solutions (VLS) from Aurora Capital Partners.

VLS provides mission-critical, customized waste and specialty cleaning and repair services to a variety of highly regulated industries in North America. The financial terms of the transaction were not disclosed.

VLS operates two principal segments: non-hazardous industrial waste handling, treatment and sustainable disposal, as well as rail and marine specialty cleaning and repair. As one of the only nationwide providers of ESG-friendly industrial waste solutions, the company’s sustainable disposal solutions are especially attractive for customers with zero-waste-to-landfill initiatives.

The company offers a comprehensive set of waste management solutions that process industrial non-hazardous waste to create alternative engineered fuels for industrial processes, fuel for waste-to-energy generation, treated wastewater and landfill solidification.

The transaction is expected to close in the third quarter of this year, subject to customary regulatory approvals.

Houlihan Lokey served as lead financial advisor, Robert W. Baird served as co-financial advisor and Gibson, Dunn & Crutcher LLP served as legal advisor to Aurora Capital Partners. Jefferies LLC served as exclusive financial advisor and Kirkland & Ellis LLP served as legal advisor to I Squared Capital.