HOUSTON, Sept. 21, 2021 /PRNewswire/ -- VLS Recovery Services, LLC ("VLS" or the "Company"), the North American leader in waste management services, railcar cleaning, and barge cleaning and repair services, today announced that it has acquired Environmental Recovery Corporation ("ERC") from Rock Island Capital. Terms of the transaction were not disclosed.
Based in Lancaster, PA, ERC provides wastewater treatment, industrial waste management, and other environmental services to customers in the Mid-Atlantic and Midwest. As part of the transaction, the ERC business will operate within the VLS Waste division. Ken Lefever, CEO of ERC, will continue to run the business reporting to Platt Moore, Vice President of VLS Waste Services.
"ERC's business is highly complementary to our existing service offerings and footprint, and they share our focus on delivering environmentally responsible and sustainable solutions to our customers," said John Magee, CEO of VLS. "ERC's core values and mission align perfectly with our commitment to safety, our employees and our customers. The addition of ERC will accelerate our continued emergence as the North American leader in waste management services, and we look forward to welcoming Ken and his excellent team to our organization."
"ERC's footprint fits seamlessly with our current locations and allows us to offer our solutions into new regions. Our waste-to-energy and sustainability offerings, combined with an expanded national reach, will enable us to enhance the overall value proposition to our loyal client base. We are excited about the future of our waste business and working with ERC to reach even more customers nationally," said Platt Moore.
"VLS has established itself as a market leader in our industry and we are excited to partner with them to build on that position," said Ken Lefever. "With their strong client and vendor partnerships, we will be able to better serve and expand offerings to our customers in the Mid-Atlantic and Midwest. On behalf of the entire team at ERC, we look forward to working with John and the rest of the VLS team."
This acquisition marks VLS's seventh add-on acquisition since being acquired by Aurora Capital Partners in October 2017. VLS has grown from six facilities in 2017 to over 25 facilities in 2021, and has plans to continue to scale the organization through both organic greenfield investments and its buy and build acquisition strategy.
Houlihan Lokey served as financial advisor to ERC and Stifel served as financial advisor to VLS. Ares provided debt financing for the transaction.
About VLS Recovery Services
VLS Recovery Services is a leader in the waste and environmental services industries with a focus on unique and innovative sustainability offerings. VLS provides customized waste processing solutions for non-hazardous industrial and commercial waste, including landfill diversion and sustainability programs, solidification of liquid waste, recycling, and wastewater treatment. The Company's railcar cleaning division provides specialty cleaning services for difficult-to-clean products including chemicals, hardened materials and pressurized gases using the most environmentally friendly and safe processes in the industry. Also, the Company's marine division has state-of-the-art barge cleaning and repair facilities for a wide variety of petroleum and chemical solvents. Today, VLS has over 700 employees in 26 locations across the country. For more information about VLS, visit: www.vlsrs.com.
About Aurora Capital Partners
Aurora Capital Partners is a leading private equity firm focused principally on control investments in middle-market companies with leading market positions, stable industry dynamics, attractive business model characteristics and actionable opportunities for growth in partnership with management. Aurora provides unique resources to its portfolio companies through its Strategy & Operations Program and its team of experienced operating advisors. Aurora's investors include leading public and corporate pension funds, endowments and foundations active in private equity investing. For more information about Aurora Capital Partners, visit: www.auroracap.com.
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SOURCE VLS Recovery