Houlihan Lokey Advises Milestone Environmental
Transaction Pending
Milestone Environmental,
a portfolio company of
SK Capital, has signed a
definitive agreement to be
acquired by I Squared Capital
Sellside Advisor
Houlihan Lokey is pleased to announce Milestone Environmental (Milestone), a portfolio company of SK Capital, has signed a definitive agreement to be acquired by I Squared Capital (I Squared). The transaction is subject to customary closing conditions and regulatory approvals.
Milestone is a leading environmental infrastructure company delivering reliable, safe, compliant, and best-in-class waste management solutions for the energy and industrial sectors. Headquartered in Houston, Milestone operates a network of permitted facilities across Texas and New Mexico—including slurry injection sites and engineered landfills—using a patented, advanced injection technology to permanently and securely isolate waste underground. Each year, Milestone manages approximately 1.3 billion gallons of waste, helping customers reduce risk and meet their environmental and regulatory goals. Founded in 2014, Milestone is now extending its expertise into industrial waste management to serve a broader range of industries.
SK Capital is a transformational private investment firm with a disciplined focus on the material sciences, specialty ingredients, and life sciences sectors. The firm seeks to build resilient, sustainable, and growing businesses that create substantial long-term value. SK Capital aims to utilize its industry, operating, and investment experience to identify opportunities to transform businesses into higher-performing organizations with improved strategic positioning, growth, and profitability, as well as lower operating risk. SK Capital has raised funds with more than $9 billion in capital commitments since its inception.
I Squared is a leading independent global infrastructure investor dedicated to the middle market, managing more than $60 billion in assets. Founded in 2012, I Squared has evolved into one of the most diverse infrastructure investors in the world, with investments across power and utilities, transportation and logistics, digital infrastructure, environmental infrastructure, and social infrastructure, providing essential services to millions of people worldwide. Today, the portfolio includes over 100 companies operating in more than 70 countries. Headquartered in Miami, the firm has offices in Abu Dhabi, London, Munich, New Delhi, São Paulo, Singapore, Sydney, and Taipei.
Houlihan Lokey is serving as the exclusive financial advisor to Milestone and SK Capital on this transaction. Houlihan Lokey also served as the exclusive financial advisor to SK Capital on its acquisition of Milestone in 2023, underscoring the firm’s long-standing relationship with SK Capital and deep knowledge of the business. This transaction further highlights Houlihan Lokey’s leading position and continued success advising clients in the environmental services sector, having successfully advised on 45 announced or closed transactions since the beginning of 2023.