Key Takeaways
- • Audax Private Debt acted as Joint Lead Arranger, providing a unitranche credit facility to support Incline Equity Partners' acquisition of Alliance Environmental Group, according to a Business Wire announcement.
- • Alliance Environmental Group, founded in 1995 and based in Azusa, California, provides residential and commercial environmental remediation services, completing more than 2,000 jobs per month and serving more than 15,000 customers.
- • The Company operates 14 locations across 4 states and has grown through acquisitions including Thermatech Northwest and Coast Environmental.
- • Incline Equity Partners, a Pittsburgh-based private equity firm targeting enterprise values of $25-750 million, is backing Alliance's next phase of growth.
- • The announcement highlights Audax Private Debt's middle-market private credit platform, which has invested over $26 billion across more than 960 companies since 2000.
Summary
Audax Private Debt announced that, as Joint Lead Arranger, it provided a unitranche credit facility supporting the acquisition of Alliance Environmental Group ("Alliance") by Incline Equity Partners ("Incline"), a Pittsburgh-based private equity firm. The financing terms were not disclosed in the announcement.
Alliance, founded in 1995 and based in Azusa, California, provides residential and commercial environmental remediation services, including indoor air quality, asbestos abatement, pest control and other remediation work. According to the company's description, Alliance completes more than 2,000 jobs every month and has completed more than 200,000 remediation projects. Its more than 15,000 customers include insurance carriers, real estate and lending institutions, restoration specialists, construction companies, government agencies, private industry and homeowners. The company operates from 14 locations in four U.S. states.
Peter Stern, Managing Director at Audax Private Debt, said Alliance has grown in recent years through strategic acquisitions including Thermatech Northwest and Coast Environmental, and that Incline is the right partner to help the company pursue its next level of growth. Joe Choorapuzha, Partner at Incline, praised Audax as a "trusted and collaborative financing partner" throughout the investment process.
Incline Equity Partners invests in manufacturing, distribution and business services companies, generally seeking growing businesses with enterprise values of $25 million to $750 million, primarily through ownership transitions, buyouts and corporate divestitures in the U.S. and Canada.
Audax Private Debt, based in New York and part of Audax Group, is a middle-market debt provider that has invested over $26 billion across more than 960 companies since its 2000 inception, supporting over 260 private equity sponsors. Its financing products include first lien, stretch senior, unitranche, second lien and subordinated debt, as well as equity co-investments.
Alliance, founded in 1995 and based in Azusa, California, provides residential and commercial environmental remediation services, including indoor air quality, asbestos abatement, pest control and other remediation work. According to the company's description, Alliance completes more than 2,000 jobs every month and has completed more than 200,000 remediation projects. Its more than 15,000 customers include insurance carriers, real estate and lending institutions, restoration specialists, construction companies, government agencies, private industry and homeowners. The company operates from 14 locations in four U.S. states.
Peter Stern, Managing Director at Audax Private Debt, said Alliance has grown in recent years through strategic acquisitions including Thermatech Northwest and Coast Environmental, and that Incline is the right partner to help the company pursue its next level of growth. Joe Choorapuzha, Partner at Incline, praised Audax as a "trusted and collaborative financing partner" throughout the investment process.
Incline Equity Partners invests in manufacturing, distribution and business services companies, generally seeking growing businesses with enterprise values of $25 million to $750 million, primarily through ownership transitions, buyouts and corporate divestitures in the U.S. and Canada.
Audax Private Debt, based in New York and part of Audax Group, is a middle-market debt provider that has invested over $26 billion across more than 960 companies since its 2000 inception, supporting over 260 private equity sponsors. Its financing products include first lien, stretch senior, unitranche, second lien and subordinated debt, as well as equity co-investments.
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