Commercial & Industrial Services Investment Banking
Our Commercial & Industrial Services practice offers clients tailored strategies for M&A advisory, capital raising and restructuring services across active and growth-oriented sub-sectors. In recent years, our hands-on senior team members have completed over 100 M&A transactions, equity financings, debt placements and restructurings – on a global basis – for leading private equity funds and their portfolio companies, as well as public and other private companies.
Commercial & Industrial Services Subsector Expertise
- Environmental and waste
- Facilities and industrial services
- Power and infrastructure services
- Rental services
- Testing, inspection and compliance
- Water
Commercial & Industrial Services Insights
- Environmental & Waste Insight (Contact our team)
- Facilities & Industrial Services Market Update
- Power & Infrastructure Quarterly Update
- TIC Insight
- Water Quarterly Newsletter
Senior Banking Team
Transaction History
July 2025
About Faircloth Skimmer
Faircloth Skimmer is a leading designer and manufacturer of custom surface water drains for stormwater and sediment basins headquartered in Hillsborough, NC and servicing customers across the U.S.
May 2025
About Beneficial Reuse Management
Beneficial Reuse Management (“BRM”) is a national leader in sustainable waste solutions, dedicated to transforming industrial by-products into valuable resources.
March 2025
About Atlas-SSI
Atlas-SSI, Inc. is North America’s leading full-service provider of water management solutions that protect mission-critical assets and water ecosystems.
March 2025
About Diversified Maintenance Systems
Diversified Maintenance Systems ("DMS" or the "Company") is a premiere provider of janitorial and facilities management solutions, serving more than 500 customers across 13,000+ locations nationwide.
February 2025
About NuFlow Technologies
NuFlow Technologies is a leading provider of specialist liners, resins and equipment for small-diameter pipe repair.
January 2025
About CROM
CROM is a water infrastructure solutions provider focused on the innovation, design, construction, restoration, and maintenance of the nation’s water and wastewater facilities.
January 2025
About WATR Group
WATR Group, a market leader in groundwater management and (ground-)water purification, has developed to a leading water management specialist in Germany and the Netherlands.
October 2024
About Bessemer Investors
Founded in 2009 and headquartered in Hauppauge, NY, W Services provides cleaning, site refresh and remodel, and emergency response services to multi-site customers across North America.
September 2024
About Casella Waste Systems
Casella Waste Systems, Inc. provides resource management expertise and services to residential, commercial, municipal, institutional and industrial customers, primarily in the areas of solid waste collection and disposal, transfer, recycling and organics services in the eastern United States.
September 2024
About UL Solutions
UL Solutions,founded in 1849, is the largest Testing, Inspection & Compliance service provider in North America. The Company offers independent third-party TIC services, along with related software and advisory offerings.
September 2024
About Shenandoah Industrial Solutions
Shenandoah Industrial Solutions is a Florida-based provider of underground infrastructure services. Shenandoah’s primary capabilities include sanitary and stormwater pipe cleaning, inspection and pipe rehabilitation services.
July 2024
About SePRO
Founded in 1994 and headquartered in Carmel, Indiana, SePRO Corporation is a leader in developing sustainable solutions that protect, preserve, and restore nature. Specializing in specialty environmental products and services, SePRO serves a diverse range of industries.
July 2024
About Best Trash
Best Trash, headquartered in Richmond, TX, is a market-leading municipal solid waste platform serving the residential waste collection needs of select markets in Texas including the Greater Houston Area.
June 2024
About Valor Environmental
Valor Environmental is the leading provider of erosion control, stormwater management and related inspection and regulatory-driven site services to homebuilders and commercial land developers nationwide.
April 2024
About UL Solutions
UL Solutions, founded in 1849, is the largest Testing, Inspection & Compliance service provider in North America.
December 2023
About Municipal District Services
Founded in 2007 and based in Katy, TX, Municipal District Services is the second-largest provider of contracted operations and maintenance services for water and wastewater in the Houston Municipal Utility District market.
December 2023
About H2O Innovation
H2O Innovation ("H2O" or the "Company") is a global, end-to-end provider of water and wastewater treatment solutions with the capabilities to engineer, design, build, operate and maintain facilities and systems.
November 2023
About Agility Recovery
Headquartered in Atlanta, GA, Agility offers business continuity and disaster recovery equipment and services to help businesses mitigate the effects of business interruptions from natural disasters and other threats to operations.
September 2023
About Big Apple Group
Founded in 2015, Big Apple Group is a leading provider of monitoring, inspection and lab-based testing services for private developers and infrastructure projects with ~100 employees.
September 2023
About Green Dot Global
GreenDot, formerly known as Duales System Deutschland or Der Grüne Punkt, has entered into a strategic combination with Synextra.
August 2023
About Environmental Site Solutions
Founded in 2018, ESS delivers solutions across several markets, including municipal drinking water, construction dewatering, remediation, food and beverage, power, microelectronics and refining.
August 2023
About Superior Environmental Solutions
Superior Environmental Solutions is a provider of industrial and environmental solutions, including water- and hydro-blasting, vacuum truck services, product destruction, emergency response, recycling and waste disposal.
July 2023
About Hydro International
Hydro International is a global provider of mission-critical technological solutions for the control, storage and quality management of wastewater, stormwater and industrial process water.
June 2023
About GWTT
GWTT is a fully-integrated provider of water & environmental remediation services, including process and design engineering, treatment system construction, equipment fabrication, asset ownership, operations & maintenance and dewatering.
June 2023
About Casella Waste
Casella Waste Systems, Inc.provides resource management expertise and services primarily in the areas of solid waste collection and disposal, transfer, recycling and organics services.
June 2023
About Treatment Technologies LLC
Treatment Technologies, LLC provides process water and wastewater O&M services under long-term contracts to a high-profile, blue-chip customer base within automotive, chemical, paper and metal finishing markets.
April 2023
About ABL Technic
ABL Technic (“ABL”), headquartered in Germany, is a leading global provider of de-coating services to the manufacturing sector, employing more than 500 people across 19 operating locations in 10 countries.
February 2023
About Environmental 360 Solutions
Environmental 360 Solutions is a vertically integrated provider of waste management, environmental, and recycling/circular economy services to over 30,000 Canadian municipal, commercial and industrial customers.
January 2023
About Morgan Stanley Capital Partners
Morgan Stanley Capital Partners is a middle-market private equity firm, established in 1985 and based in New York, investing in companies primarily in North America.
January 2023
About Clean Harbors Inc
Clean Harbors is North America’s leading provider of environmental and industrial services.
December 2022
About Duke Root Control
Founded in 1948 and based in Elgin, Il., Duke’s Root Control, Inc. ("Duke's", or the "Company"), is a national provider of wastewater-focused inspection, diagnostics and remediation services which addresses the critical needs of municipal sewer systems.
September 2022
About Trill Impact
Trill Impact is a pioneering Impact House with more than EUR 1 billion in assets under management across its investment strategies.
August 2022
About Sharps Compliance
Sharps Compliance is a full-service national provider of comprehensive waste management solutions including medical, pharmaceutical and hazardous waste.
August 2022
About Circular Resources
Circular Resources was founded to provide a one-stop-shop solution for globally recognized operators to meet their growing need for recycled plastics and their commitment to solve the plastic waste crisis.
June 2022
About Bassett Creek Services
Headquartered in Chicago, Illinois, Bassett Creek Services (“BCS”) provides mission-critical restoration, renovation, and specialty services to a diverse group of commercial and residential clients.
June 2022
About UGSI Solutions
UGSI Solutions provides chemical feed and water disinfection technologies to municipal and industrial clients. . From tank mixing, to disinfection byproduct (DBP) removal, to disinfectant residual management – UGSI Solutions is the only company offering the full set of "outside the fence" water quality solutions.
May 2022
About AquaChem
Headquartered in Knoxville, Tennessee (USA), Aqua-Chem is specialized in water purification, with market-leading technologies in vapor compression distillers, reverse osmosis, pure steam generation, and pre-treatment solutions.
March 2022
About Resource Environmental Solutions
Resource Environmental Solutions, LLC is the nation’s largest ecological restoration company. The Company supports the public and private sectors with solutions for environmental mitigation, stormwater, water quality, and climate and flooding resilience.
December 2021
About Metco Landscape
Metco Landscape is a provider of comprehensive landscape maintenance and development services in the Denver and Colorado Springs markets.
December 2021
About AqueoUS Vets
Founded in 2015 and based in Redding, California, AqueoUS Vets® (“AV”) is a provider and servicer of water treatment systems that address long-standing and emerging contaminants in the U.S. water infrastructure, specifically focusing on the removal of per- and polyfluoroalkyl substances (PFAS).
November 2021
About The Facilities Group
The Facilities Group (“TFG”) is a national provider of integrated facilities maintenance solutions. TFG’s group of local, regional, and national brands provide janitorial and facilities maintenance services for more than 25,000 customer locations across a broad set of end markets.
November 2021
About Lindsay Precast
For more than 50 years, Lindsay Precast has been North America’s premier concrete manufacturer specializing in precast concrete products for the water, utility and infrastructure end markets.
October 2021
About Orion Waste Solutions
Orion Waste Solutions, headquartered in Clearwater, FL, is a leading full-service solid waste management, recycling and environmental services company.
August 2021
About AdEdge Water Technologies
AdEdge Holdings, LLC is a water treatment technology and solutions provider specializing in the design, development, fabrication and supply of water treatment solutions, specialty medias, legacy and innovative technologies that remove a wide range of contaminants from water.
July 2021
About Quality Water Service
Quality Water Service (QWS) has led the bottleless water dispenser industry in Puerto Rico, Chile and Colombia.
July 2021
About Rapid Fire Protection Group
Since its founding in 1992, Rapid Fire Protection Group has delivered a broad range of services including specialized design and installation of fire sprinkler and suppression systems as well as ongoing inspection, testing and maintenance.
June 2021
About SJ Electro Systems Inc.
SJE was founded in 1975 by Steve Johnston. Today, over 45 years later, SJE has grown into a leading controls technology company throughout the United States and Canada, as well as into global markets.
June 2021
About Plumettaz
Founded in 1923, Plumettaz is a Swiss based leader in the design, production, and distribution of underground cable installation solutions and highly engineered equipment.
June 2021
About Atomic Transport
Atomic Transport is a provider of outsourced long‐haul waste transport and transfer station management for the largest waste companies in the U.S.
June 2021
About Anaergia
Anaergia is an integrated waste-to-value platform and a global leader in converting organic waste into RNG, clean water and fertilizer, through the use of proprietary technologies.
May 2021
About Diverzify
Diverzify+ (“Diverzify” or the “Company”) is a leading national provider of facility services, including commercial flooring solutions and disinfecting and sanitization services. The Company operates in 49 states from 16 facilities, and has longstanding relationships with a diverse array of blue-chip customers in attractive end markets.
April 2021
About Stella Environmental Services
Stella, based in Houston, TX, plays a crucial role in the processing and safe disposal of municipal solid waste. The Company provides outsourced transfer station management services, including the loading and transportation of waste from in-town processing facilities to remote landfills, to integrated waste companies and municipalities.
April 2021
About Kando
Through our wastewater intelligence technology, Kando empowers their clients to take action based on data and insights, so that they can fulfill their goals and vision.
March 2021
About Qualus Power Services
Headquartered in Cincinnati, Ohio, Qualus Power Services provides electric power engineering and field services. The business operates from more than 20 field and engineering locations and provides services nationwide.
March 2021
About Snow Phipps
AI Fire (the “Company”) is a fire and life safety service provider to both national accounts via a vendor partner network and local and regional customers through its self-employed technicians.
March 2021
About Custom Molded Products
Custom Molded Products (“CMP”) is a leading supplier of innovative solutions for the recreational water industry with a strong portfolio of reputable brands such as DEL™, Brilliant Wonders®, SpaMASTER™ and Bobé Water & Fire.
March 2021
About Itron Inc.
Itron, Inc. is a provider of solutions that measure, manage and analyze energy and water use. The company’s metering systems fall into one of three categories: standard, advanced, and smart metering systems.
November 2020
About Gryphon Investors
Gryphon Investors is a highly respected private equity firm with more than $2.5B in assets under management (AUM) focused on middle-market investment opportunities.
October 2020
About Casella Waste Systems
Casella Waste Systems, Inc., together with its subsidiaries, operates as a vertically-integrated solid waste services company in the northeastern United States.
September 2020
About OneWater Marine
OneWater Marine is one of the largest and fastest-growing premium recreational boat retailers in the United States with 63 stores comprising 21 dealer groups in 11 states. The company’s dealer groups are located within highly attractive markets throughout the Southeast, Gulf Coast, Mid-Atlantic and Northeast, including Texas, Florida, Alabama, North Carolina, South Carolina, Georgia, Ohio and New York.
September 2020
About Secur LPT
SECUR LPT provides waste management solutions to Nuclear Energy providers and other complex waste generators in the U.S. via a comprehensive offering of logistics, packaging and technology-enabled services.
August 2020
About Waste Partners Environmental
WPE is the market leader in the state of Texas for highway and municipal toll-road sweeping and debris removal services. The business primarily performs its services via direct contracts with the Texas Department of Transportation and various municipal authorities, as well as a subcontractor.
June 2020
About Aquam
Headquartered in San Diego, CA, Aquam provides end-to-end service and technology rehabilitation and maintenance solutions that extend the service life of water and energy network distribution infrastructure.
May 2020
About Energy Recovery
Energy Recovery Inc. manufactures energy recovery devices for oil and gas, chemical and water industries globally.
May 2020
About Danaher Corporation
Danaher is a Fortune 500 science and technology innovator helping solve complex challenges, and improving quality of life around the world.
March 2020
About Evoqua
Information coming soon
March 2020
About GFL Environmental
January 2020
About 2001_Fortress Transportation and Infrastructure
Fortress Transportation & Infrastructure owns and acquires high quality infrastructure and related equipment for the transportation of goods and people globally.
January 2020
About Desalitech
Desalitech is a pioneer and leading supplier of high-recovery closed circuit reverse osmosis systems for water purification for industrials and municipal end markets.
January 2020
About Fortress Transportation and Infrastructure
Fortress Transportation & Infrastructure (“FTAI” or the “Company”) owns and acquires high quality infrastructure and related equipment for the transportation of goods and people globally.
November 2019
About Torrent Resources
Torrent Resources, Inc. is a leading supplier of branded, engineered stormwater drainage solutions.
October 2019
About Frontier Water Systems
Frontier Water Systems is a pioneer in the development of patented, engineered equipment packages for high-rate treatment and removal of selenium, nitrate and other metals from complex waste streams.
September 2019
About Oasis International
Oasis International is a vertically-integrated, global designer and manufacturer of high-quality, branded clean drinking water systems.
September 2019
About Construction Partners
Construction Partners, Inc. is a vertically integrated civil infrastructure company operating across five southeastern states, with 32 hot mix asphalt plants, nine aggregate facilities and one liquid asphalt terminal.
August 2019
About Capital Waste Services
Based in South Carolina, Capital Waste Services, LLC is a leading regional provider of municipal solid waste services in the southeastern U.S.
August 2019
About Stobart Group
Information coming soon.
July 2019
About Valicor
Valicor, Inc. is the largest provider of centralized wastewater treatment facilities in North America, with unparalleled scale and service.
July 2019
About Aqua Venture Holdings
AquaVenture is a multinational provider of WAAS® solutions that provide customers a reliable and cost-effective source of clean drinking and process water primarily under long-term contracts that minimize capital investment by the customer.
June 2019
About Clean Harbors
Clean Harbors is North America’s leading provider of environmental, energy and industrial services.
April 2019
About ZCL Composites
ZCL is North America's largest manufacturer of environmentally friendly fiberglass reinforced plastic ("FRP") underground storage tanks for the fuel, water and wastewater and oil & gas markets.
March 2019
About Servelc Group
Servelec Technologies is a market-leading provider of remote monitoring systems, secure SCADA systems and business analytics software, and it provides complete end-to-end automation and optimisation solutions for utility companies globally.
January 2019
About Casella Waste Systems
Casella Waste Systems, Inc., together with its subsidiaries, operates as a vertically-integrated solid waste services company in the northeastern United States.
January 2019
About Home Depot
The Home Depot, Inc. is the world’s largest home improvement retailer, operating more than 2,200 stores across North America.
December 2018
About Pure Water Technology
PHSI is a leading provider of filtered water coolers and related services through two sales channels.
November 2018
About WesternOne
Information coming soon.
November 2018
About Arrow Building Center
Arrow Building Center, headquartered in Stillwater, Minnesota, is a leading value-added distributor of residential and commercial building materials to home builders.
October 2018
About Aecon
Information coming soon.
July 2018
About ProAct
ProAct Services Corporation provides air and water treatment solutions. Its services include on-site water treatment, industrial degassing and vapor control, environmental remediation, suspended solids removal, metal treatment, pilot studies, carbon servicing.
June 2018
About Belmont Instrument Corporation
Belmont Instrument Corporation develops fluid management and medical devices for global use in medical facilities and military combat fields. It offers blood and fluid warmers.
June 2018
About Milestone Partners
Milestone Partners collaborates with management to make control equity investments in established operating businesses with a focus on the tech-enabled solutions, financial services and tech-driven manufacturing sectors.
June 2018
About Master WoodCraft Cabinetry
Master WoodCraft Cabinetry, headquartered in Marshall, Texas, is a leading vertically-integrated designer, manufacturer and installer of kitchen & bath cabinets and countertops.
May 2018
About Construction Partners Inc.
Information coming soon.
March 2018
About Evoqua
Evoqua is a leading provider of mission critical water treatment solutions, offering services, systems and technologies to support customers' full water lifecycle needs.
February 2018
About Waste Pro USA Inc.
Waste Pro was founded on a bold idea: to transform the waste and recycling industry into a values-driven service. For us, sustainability is more than working to reduce our company’s impact on the environment. It is also about building long-lasting relationships with our customers, recognizing our highly committed employees, and investing in the communities in which we operate.
October 2017
About Chart Industries Inc.
Chart is a leading diversified global manufacturer of highly engineered equipment, packaged solutions and value-add services used throughout the gas-to-liquid cycle in all industries that require liquid gases or alternative equipment for gas generation, generally for the industrial gas, energy and biomedical end markets.
October 2017
About Evoqua
Evoqua is a leading provider of mission critical water treatment solutions, offering services, systems and technologies to support customers' full water lifecycle needs.
October 2017
About American Insulated Glass
American Insulated Glass, headquartered in Conley, Georgia, is a leading custom fabricator and distributor of glass products to millwork and glazing contractors in the residential and commercial end-markets throughout the Southeastern United States.
October 2017
About Action Resources
Action Resources, Inc. is a growth-oriented, leading provider of specialized transportation and environmental services.
October 2017
About Heart of Texas Suppliers
Heart of Texas Suppliers is a privately-held partnership formed to supply potable groundwater to the City of Hutto, Texas, a rapidly growing community located 25 miles northeast of Austin.
October 2017
About Glumac
Information coming soon.
August 2017
About Stella Environmental Services
Stella Environmental Services provides facility management, hauling, and loading services to municipal solid waste and transportation customers across various states
August 2017
About Tonkawater
Tonka Water is a well established designer and manufacturer of customized water treatment systems with 57 years of successful experience in the water industry.
August 2017
About Phase One
Information coming soon.
June 2017
About English Color and Supply Inc.
English Color & Supply is a leading value-added distributor of automotive paint and body shop supplies in the Southern United States, with an established footprint in Texas, New Mexico, Oklahoma, Arkansas, Mississippi, Louisiana, Alabama, Tennessee and Florida.
June 2017
About RNL Design
Information coming soon.
June 2017
About Valicor
Valicor is a leading facilities-based wastewater treatment provider that manages more than 200 million gallons of non-hazardous wastewater annually at its six centralized waste treatment facilities.
May 2017
About ABM
ABM Government Services provides industry-leading mission support, critical infrastructure services, healthcare facility services, and healthcare construction expertise to the U.S. Government.
May 2017
About Schafer Corporation
Schafer is a leading provider of scientific, engineering, and technical services to national security focused government agencies in areas such as CBRNE, space systems, air and missile defense, and cybersecurity.
April 2017
About SNC Lavalin
Information coming soon.
April 2017
About Aquam
Information coming soon.
Transaction history may include transactions completed by a Raymond James banker while at a former firm.