SK Capital Partners and affiliates have completed the acquisition of Milestone Environmental Services from Amberjack Capital Partners, according to a news release.
Latham & Watkins LLP acted as legal counsel and Houlihan Lokey served as financial advisor to SK Capital. Committed debt financing was provided by Cerberus Business Finance. Goldman, Sachs & Company and White & Case acted as financial advisor and legal counsel, respectively, to Milestone.
SK Capital has taken a controlling stake in Milestone in partnership with President and CEO Gabriel Rio, who will continue to serve in that role and retain significant ownership in the company.
Rio founded Milestone in 2014. It is the largest independent provider of waste management services and an emerging provider of permanent carbon sequestration services to US energy and industrial sectors, the release states.
Headquartered in Houston, Milestone operates a network of waste management infrastructure that permanently sequesters energy waste. Milestone has sequestered more than 2 million tons of CO2e through its proprietary slurry injection process.
Milestone’s CCS subsidiary is Milestone Carbon, focused on serving industrial CO2 emitters by developing and operating injection sites. Milestone Carbon has several CCS projects under development and recently announced significant progress in its Midland Basin project.
