Shamrock Environmental (Shamrodk) a portfolio company of private equity firm CenterOak Partners (CenterOak), has acquired Virginia American Industries (VAI). VAI is a regional provider of non-hazardous wastewater treatment services, operating through Centralised Wastewater Treatment (CWT) facilities in Florida and Virginia under the Aqua Clean and Reco trade names, respectively. Terms of the transaction were not disclosed.
Shamrock, which was formed in 1994 and is headquartered in Browns Summit, North Carolina, provides mission-critical, non-hazardous wastewater treatment and related industrial services to customers in diverse end markets across the Southeast US. The Company is led by CEO and shareholder Greg Kiser, a highly experienced environmental services executive with over 20 years of service at Shamrock.
This transformative transaction represents Shamrock’s first acquisition since CenterOak completed a majority investment in January 2020 and approximately doubles the Company’s leading regional presence. Following the acquisition, the Company is one of the largest providers of non-hazardous wastewater treatment in the US by volume processed.
“CenterOak has a longstanding history of investing in closely-held businesses,” says Randall Fojtasek, Chief Executive Officer and a Managing Partner of CenterOak. “As a first-time institutional capital provider for the Company, we are well-suited to support Shamrock’s growth in the highly fragmented and attractive environmental services industry.”
“We developed a thesis around the mission-critical role that CWT facilities play in the wastewater treatment process,” says Jason Sutherland, a Managing Partner of CenterOak. “The acquisition of VAI significantly expands Shamrock’s service footprint by adding permitted treatment capacity in the rapidly growing Southeast region.”
“We are excited to welcome VAI employees and customers to the Shamrock family,” says Greg Kiser, CEO of Shamrock. “This transformative acquisition is a great example of why we partnered with CenterOak. Their expertise and resources helped us to complete this transaction efficiently, and we look forward to further expanding our footprint and service offerings in existing and adjacent markets to better serve customers.”
