Aerospace, defense, government and environmental-focused private equity firm J.F. Lehman and Company (JFLCO) has announced an investment affiliate has acquired waste and storm water services company Inland Pipe Rehabilitation LLC (IPR), the company said.
Terms of the transaction were not disclosed. Debt financing for the transaction was provided by Monroe Capital LLC.
JFLCO said IPR expands the company´s portfolio of companies in the environmental services sector.
Jones Day provided legal counsel to JFLCO. Houlihan Lokey served as financial advisor to IPR and Jaffe Raitt Heuer and Weiss provided legal counsel.
IPR provides trenchless pipe rehabilitation solutions and technology to the municipal wastewater and storm water markets. The company´s technologies and services provide government customers with minimally disruptive, cost-effective solutions to manage aging underground pipe infrastructure.