Quality Environmental Services (“Quality” or the “Company”), a leading specialty provider of a full suite of environmental remediation services in the Great Lakes region, has joined forces with Lakeshore Environmental Contractors (“LEC”), a highly complementary provider of environmental remediation services in the Gulf Coast and Southeast regions. This partnership, effective as of February 23, 2024, marks a significant milestone in Quality’s growth strategy, doubling the size of the business while equipping the Company with enhanced capabilities and a broadened array of service offerings. LEC represents the first add-on acquisition completed by Quality since Caymus Equity’s majority investment in November 2023.
LEC has established a strong reputation over the past 36 years as a trusted provider of environmental remediation services, delivering tailored solutions to a diverse customer base of general contractors, industrial hygienists, and property managers. With a focus in the recession-resistant government / military / Department of Defense end-market, LEC primarily services projects across the Gulf Coast and Southeast regions, however, is licensed and has performed work in 29 states.
“Partnering with LEC represents significant progress toward achieving our strategic objectives for Quality,” commented Blake Cummings, Partner and investment lead at Caymus Equity. “Doubling the size of our environmental services platform in the first four months of our investment with strong geographic footholds in the Great Lakes and Gulf Coast presents us with an opportunity to become the dominant provider throughout the middle of the country. We recognize the highly complementary and stable project book LEC brings, and are excited to leverage LEC’s strong capabilities as we continue to build one of the leading environmental services operations in the U.S.”
"We are thrilled to welcome LEC to the Quality platform," said Kevin Wolfe, CEO of Quality. "Their proven track record, deep industry expertise, and commitment to exceptional service perfectly complements our strategic objectives. This transaction positions us for even greater success as we expand our national footprint and offer broad, highly-regulated, and non-deferrable services to our customers."
Scott Harrison, Stan Roth, and Aaron Murphree, the leaders of LEC’s operations, will remain in their current roles and join Quality’s leadership team, bringing a wealth of experience and insights to the combined organization. Scott, Stan, and Aaron’s guidance will be instrumental in continuing to drive the growth and success of Quality and LEC.
Quality represents an opportunity to continue and repeat Caymus Equity’s facilities services expertise. In particular, Caymus Equity’s existing portfolio company, TriplePoint, has transformed from a $25 million, single-location business at entry to one of the top ten mechanical contractors in the U.S., with over $500 million in revenue across 10+ states.
To learn more about LEC, visit https://www.lecbiz.com/
To read more about Quality, visit https://qualityenv.co/