Private equity firm Aurora Capital Partners has completed its acquisition of VLS Recovery Services LLC a provider of specialty cleaning and waste processing services. Terms of the transaction were not disclosed.
Headquartered in Hockley, Texas, VLS provides specialty cleaning services of railcars and large industrial containers for difficult-to-clean products including chemicals, hardened materials and pressurized gases.
The company also provides customized processing solutions for non-hazardous waste, including waste-to-energy and other landfill diversion programs, solidification of liquid waste, recycling, and wastewater treatment. The company operates out of facility locations in Texas, Georgia, Tennessee and South Carolina.
“Over the past 10 years VLS has become the established leader of attractive niches in waste cleaning and processing with outstanding technical capabilities, deep customer relationships and an unrivaled track record of reliable performance. We look forward to partnering with the VLS management team and employees, who are proven innovators in their markets,” Aurora Managing Partner Mark Rosenbaum said in a statement.
"We have a long history of partnering with market-leading businesses to accelerate organic and acquisition growth initiatives. We see significant growth potential for VLS in the future and are excited to continue building on the company’s success,” Aurora Partner Matthew Laycock said in a statement. "Aurora has a long and successful track-record of supporting companies like ours, and we are confident that this partnership is the right next step for VLS,” VLS CEO Michael Dilick said in a statement. “Aurora has shown a strong commitment to partnering with management, and we are excited to invest in the business side-by-side with them as we look to accelerate our continued growth and evolution.”
Duff & Phelps served as financial advisor to VLS, while BoyarMiller served as legal advisor. Gibson Dunn & Crutcher served as legal advisor to Aurora. Ares Capital Corporation and Varagon Capital Partners provided debt financing for the transaction.