Houlihan Lokey Advises SK Capital Partners

Houlihan Lokey is pleased to announce that SK Capital Partners (SK Capital) has acquired Milestone Environmental Services (Milestone), a leader in environmental services and carbon management.

Headquartered in Houston, Texas, Milestone operates a leading integrated network of waste management infrastructure that reduces its customers’ carbon impact by permanently sequestering hydrocarbon-containing energy waste, preventing greenhouse-gas emissions and water and ground contamination. Since 2014, Milestone has sequestered more than 2 million tons of CO2e through its proprietary slurry injection process.

In addition to expanding its leadership in existing markets, Milestone has the strategy, capabilities, and operating track record to play a major role in the rapidly growing carbon capture and sequestration (CCS) market, a critical component of addressing global climate change. Leveraging its core competencies in waste sequestration, complex permitting and regulatory compliance, subsurface rights leasing, and geology analysis, Milestone’s CCS subsidiary, Milestone Carbon, is focused on enabling a broad range of industrial CO2 emitters to meet its decarbonization goals by developing and operating injection sites that permanently and securely sequester CO2. Milestone Carbon has several CCS projects under development and recently announced significant progress in its Midland Basin project.

Milestone President and CEO Gabriel Rio will continue to serve in that role and retain significant ownership in the company. Mr. Rio founded Milestone in 2014, and, alongside a strong management team and dedicated employee base, the company has become the largest independent provider of waste management services and an emerging leader in permanent carbon sequestration services to the United States energy and industrial sectors.

SK Capital is a private investment firm with a disciplined focus on the specialty materials, ingredients, and life sciences sectors. The firm seeks to build resilient, sustainable, and growing businesses that create substantial long-term economic 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’s portfolio of businesses generates revenues of approximately $17 billion annually, employs more than 25,000 people globally, and operates more than 200 plants in over 30 countries. The firm currently has approximately $7.9 billion in assets under management.

Houlihan Lokey served as the exclusive financial advisor to SK Capital.

This transaction highlights Houlihan Lokey’s continued success advising clients in the environmental services sector. Houlihan Lokey has successfully advised on more than 30 closed environmental services transactions since January 2021.