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The Carlyle Group Supports J.F. Lehman & Co. Acquisition of Waste Control Specialists

January 29, 2018, 07:12 AM
Filed Under: Waste Management

J.F. Lehman & Company announced that an investment affiliate has acquired Waste Control Specialists LLC from Valhi, Inc.  The acquisition represents JFLCO's fourth platform investment in the environmental and technical services sector.

WCS owns and operates a unique waste disposal, storage, and treatment facility in Andrews County, TX for highly specialized and regulated waste streams including low-level radioactive waste, hazardous waste and mixed hazardous and radioactive waste. WCS is the only site in the United States licensed to process and dispose of Class A, B, and C low-level nuclear waste from government and commercial generators located in all 50 states.  Customers include the Department of Energy, the Environmental Protection Agency, and blue-chip utility and healthcare enterprises.

The Company also has a strategic partnership with JFLCO portfolio company NorthStar Group Holdings, Inc. (NorthStar), a leading provider of specialized environmental and technical services for commercial and government end markets, to support domestic electric utilities in safely decommissioning nuclear power generation sites.

Alex Harman, Partner at JFLCO, stated, "WCS maintains an industry-leading reputation and provides an essential solution for the safe disposal of specialized waste streams. We are excited to support the long-term success of the business through continued engagement and partnership with industry stakeholders, including strengthening the partnership with NorthStar to deliver a best-in-class nuclear power plant decommissioning solution."

Scott State, Chief Executive Officer of WCS and NorthStar, said "For more than two decades, WCS has provided state-of-the-art disposal capabilities from a rigorously-monitored, highly-engineered facility. Given the substantial capital investment in the facility, the site maintains significant capacity for growth, and we remain committed to serving our customers as a trusted solutions provider."

Glenn Shor, Managing Director at JFLCO, stated, "Through its unique technical competencies and industry leadership, WCS exemplifies many of the values and attributes JFLCO emphasizes in its investment strategy. Our partnership with WCS will ensure the business has the resources required to support its long-term growth strategy across the government and commercial marketplace."

Evercore acted as financial advisor and Jones Day and Pillsbury Winthrop Shaw Pittman acted as legal counsel to JFLCO.  Evercore also acted as placement agent for the debt financing for the transaction which was provided by The Carlyle Group's Credit Opportunities Fund.

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