LOS ANGELES--(BUSINESS WIRE)--Patriot Environmental Services, a premier provider of comprehensive environmental services in the western United States, announced today that it has raised a growth capital round led by Angeleno Group and existing shareholder Solace Capital Partners. Patriot’s management team intends to use the proceeds to expand service offerings, increase geographic reach and presence, and fund strategic acquisitions.
"We are thrilled to add Angeleno Group to our shareholder base. Their sector expertise in driving growth in, and solutions for, the utility and energy industries are the ideal complement to Patriot's core customer base," said Cary Meadow, Patriot's Executive Chairman. "Together with Solace Capital, Patriot now has two of the most respected Southern California-based growth investors who will help us achieve our strategic goals, including our recently announced acquisition of certain wastewater assets, as we become further vertically-integrated throughout California."
“Environmental services have become an important piece of the energy and natural resources landscape,” said Angeleno Group’s Managing Partner Yaniv Tepper. “Patriot’s best-in-class trained professionals, impressive safety record and tenured management team all provide the foundation for future growth. Above all, they have a strong history of keeping California clean. We’re excited to partner with Patriot and Solace Capital Partners to find new ways to provide value to Patriot's customers.”
About Patriot Environmental Services
Founded in 2002 and based in Wilmington, CA, Patriot is a premier provider of comprehensive environmental services in the western United States. The company’s broad and vertically integrated service offering includes emergency spill response, hazardous waste management and transportation, industrial cleaning, full facility closure and remediation, non-hazardous wastewater treatment, solidification, and other complementary services.
About Angeleno Group
Founded in 2001 and based in Los Angeles, CA, Angeleno Group is a pioneer in providing growth capital for next generation energy and natural resources companies. AG invests opportunistically in a range of deal types, with a strategy that is sector-focused, stage-agnostic, and research-driven. Since its founding, AG has become one of the largest dedicated energy growth equity investment firms, making investments on a global basis with investment professionals operating in the U.S. and Australia.
About Solace Capital Partners
Solace Capital Partners is a Los Angeles, CA based private equity firm focused on constructive investing in lower-middle market companies in the United States and Canada. Solace Capital provides flexible solutions for established businesses facing complex situations. The firm leverages its extensive expertise to provide financial stability, lead operational initiatives, and drive performance improvement in its portfolio companies while generating attractive risk-adjusted returns for its investors.