Goldman Sachs Buys Out Liquid Waste Management Company LES
Liquid Environmental Solutions (LES), a leading national service provider within the circular economy, has been acquired by Goldman Sachs Alternatives. This move is part of Goldman Sachs Alternatives' infrastructure franchise, which focuses on four key themes: circular economy, digital infrastructure, energy transition, and transportation & logistics.
The acquisition is expected to support LES' growth and expansion, as Goldman Sachs Alternatives plans to continue supporting LES' growth, both organically and through acquisitions. This follows LES' previous growth under Audax Private Equity, which included investments in team and operational infrastructure as well as 13 acquisitions that nearly doubled LES’s footprint.
Goldman Sachs Alternatives intends to invest in organizational, technology, and operational initiatives to enhance LES’s capabilities, enabling it to better serve customers and communities. LES collects, treats, and recovers materials from liquid waste sources at 64 service locations and 26 treatment and processing facilities across the U.S. The company provides services to clients across sectors such as restaurant, grocery chain, hospitality, education, and environmental services.
"We are excited for this next chapter of growth with Goldman Sachs Alternatives," said Jerry Sheridan, CEO of Liquid Environmental Solutions. "The partnership will accelerate our growth and infrastructure investment."
The LES team is committed to delivering best-in-class service for its customers and communities. The acquisition fits squarely within Goldman Sachs Alternatives’ infrastructure franchise, strengthening their expertise and sourcing capabilities in the circular economy sector, reinforcing the firm’s differentiated strategy in infrastructure assets with environmental and sustainability angles.
Goldman Sachs Alternatives believes that the acquisition highlights its strength, differentiated expertise, and track record in the circular economy sector. The investment is intended to benefit LES' customers, communities, and other stakeholders, as LES pursues an expansion strategy that emphasizes both organic growth and acquisitions to further extend its geographic footprint and enter adjacent services.
In summary, the acquisition of LES by Goldman Sachs Alternatives underscores the firm's commitment to sustainable, scalable infrastructure investments focused on long-term environmental and operational value. LES, with its strong presence in the circular economy, will play a crucial role in Goldman Sachs Alternatives' efforts to drive growth in this sector.
[1] Goldman Sachs Press Release: [Link to Press Release] [2] Liquid Environmental Solutions Website: [Link to LES Website] [3] Audax Private Equity Press Release: [Link to Audax Press Release] [4] Goldman Sachs Alternatives Infrastructure Franchise: [Link to Goldman Sachs Infrastructure Franchise]
- Goldman Sachs Alternatives' acquisition of Liquid Environmental Solutions (LES) signals their commitment to contributing to the energy transition by investing in organizations that prioritize environmental-science and circular economy within the industry.
- The integration of LES into Goldman Sachs Alternatives' infrastructure franchise will bolster the firm's finance capabilities and environmental-science expertise, providing them with a more expansive platform to fund sustainable projects and influence positive changes in the environment.
