Los Angeles-based private equity firm Levine Leichtman Capital Partners (LLCP) has acquired USA Water, a Texas-based provider of operations and maintenance services for water and wastewater systems, from Florida-based private equity firm Warren Equity Partners.
Financial terms of the transaction have not been disclosed.
According to a press release, the company will continue to be led by CEO Jeff Haley and the existing executive team, who will maintain significant equity ownership in USA Water alongside LLCP.
In a statement, Matthew Rich, Partner at LLCP, said: “USA Water has built a stellar reputation due to its ‘customer first’ culture and best-in-class service capabilities, which have driven an incredibly loyal client base and a long-term track record of consistent growth.”
LLCP’s other investments in the technical and route-based services sectors include Encore Fire Protection, Technical Safety Services, Trinity Consultants, In-Place Machining and Select Exterminating.
LLCP was advised by Kirkland & Ellis. USA Water was advised by Harris Williams and Holland & Knight.
Source: Private Equity Wire
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