Reclamation Technologies USA acquired by investment fund

J.F. Lehman & Co. (JFLCO), a New York-based asset manager involved in several industry sectors, says its affiliate JFL Equity Investors VI LP has acquired majority stakes in Reclamation Technologies USA LLC (RTI) and Tradewater LLC & Affiliates, establishing what J.F. Lehman calls an environmental services platform.

Indianapolis-based RTI is a full-service refrigerant recovery and reclamation provider offering end-to-end services, including on-site gas recovery, reclamation, separation of mixed gases, cylinder exchange programs and reclaimed and virgin gas sales.

“We are thrilled to launch JFLCO’s newest platform by entering this growing and highly fragmented sector,” says Glenn Shor, managing partner at JFLCO. “The investments in RTI and Tradewater establish a market leader with unique capabilities, and represent a strong foundation for continued growth. We're excited to partner with Jeff and Katelyn to build upon the strong foundation that RTI and Tradewater have established.”

Chicago-based Tradewater specializes in the collection and control of refrigerant and methane gases. The company sources, aggregates and coordinates the destruction of high global-warming-potential refrigerant gases across the world, eliminating the release of super pollutant gases into the atmosphere, according to the investor.

“The acquisitions of RTI and Tradewater represent foundational investments for a new growth-oriented environmental services platform addressing opportunities in the market for life cycle management of industrial and refrigerant gases and the mitigation of uncontrolled sources of methane," JFLCO says.

JFLCO is partnering with a management team, led by sector CEO Jeff Laborsky and sector president Katelyn Imrie, to capitalize on growth opportunities in the sector.

“We are partnering with a proven, highly capable management team with demonstrated ability in establishing and scaling specialized environmental services platforms," JFLCO partner Dave Thomas says. "Together, we see a compelling opportunity to accelerate growth through disciplined M&A and organic investment, positioning the Company as the acquirer of choice in a highly fragmented market.”

JFLCO says Laborsky and Imrie bring extensive experience in building and leading businesses addressing complex environmental and waste-related challenges. At RTI, Rodney Pierce will continue to serve as president and Tradewater’s co-founders Tim Brown and Gabriel Plotkin have announced the appointment of Kirsten Dueck as CEO of the Tradewater business.

According to JFLCO, Brown and Plotkin plan to remain engaged with the company and support its next phase of growth.

A&O Shearman provided legal counsel to JFLCO, Brown Gibbons Lang & Co. (BGL) served as financial advisor to RTI and Ice Miller LLP provided legal counsel to RTI. Cypress Capital, LLC served as financial advisor to Tradewater and Faegre Drinker Biddle & Reath LLP provided legal counsel to Tradewater.