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Los Angeles, February 22, 2024–(BUSINESS WIRE)–Levine Leichtman Capital Partners (“LLCP”), a Los Angeles-based private equity firm, announced today that it has partnered with management to acquire USA Water (“LLCP”) from Warren Equity Partners. announced that it had acquired the company. Financial terms of the deal were not disclosed.
Water, headquartered in Rosenberg, Texas, is a leading provider of water and wastewater system operation and maintenance (“O&M”) services throughout the Southeastern United States. The company’s non-discretionary services enable local governments and utility districts to outsource their water infrastructure maintenance, asset management and regulatory compliance needs to specialized partners at scale. USA Water’s industry-leading technical expertise and comprehensive service offerings play a critical role in ensuring the integrity, safety, and reliability of access to clean, high-quality water.
Matthew Rich, partner at LLCP, said: “We are pleased to partner with USA Water, one of the leading O&M providers of water infrastructure services.” “USA Water has an excellent reputation for its ‘customer-first’ culture and best-in-class service capabilities. Jeff and the USA Water team are excited to be working together.” Expand the company’s service capabilities and geographic footprint through both initiatives and strategic acquisitions. ”
USA Water will continue to be led by CEO Jeff Haley and the existing management team, who will maintain significant equity ownership in the company along with LLCP.
“We are excited to partner with LLCP as USA Water embarks on its next chapter of growth,” said Haley. “LLCP has an established track record of being a great partner for management teams, and we look forward to leveraging their deep industry knowledge and operational expertise to deliver more value to our customers through our key services. That’s what I think.”
Throughout its funding, LLCP has invested extensively in technical and root-based service areas, including Encore Fire Protection, Technical Safety Services, Trinity Consultants, Field Processing, and Specific Extermination.
LLCP was advised by Kirkland & Ellis LLP. USA Water was advised by Harris Williams and Holland & Knight LLP.
About Levine Reitman Capital Partners
Levine Leichtman Capital Partners, LLC is a middle market private equity firm with a 39-year investment history across a variety of target sectors, including franchise and multi-unit, business services, education and training, and engineered products and manufacturing. LLCP utilizes a differentiated structured private equity investment strategy that combines debt and equity capital investments in its portfolio companies. LLCP believes that investing in a mix of debt and equity can provide management teams with growth capital in a highly customized and flexible investment structure, making it a more attractive option than traditional private equity.
LLCP’s global team of dedicated investment professionals is led by 10 partners who have worked with LLCP for an average of 19 years. Since its inception, LLCP has managed approximately $14.2 billion of institutional capital across 15 investment funds and invested in more than 100 portfolio companies. LLCP currently manages $10.2 billion in assets and has offices in Los Angeles, New York, Chicago, Miami, London, Stockholm, The Hague and Frankfurt. For more information, please visit www.llcp.com.
View source version on businesswire.com. https://www.businesswire.com/news/home/20240222645902/ja/
contact address
mark semer
Gastalter & Co.
(212) 257 4170
llcp@gasthalter.com
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