I Squared Capital to buy waste management firm VLS

• The seller is Aurora Capital Partners
• Houlihan Lokey served as lead financial advisor, Robert W. Baird served as co-financial advisor to Aurora while Jefferies LLC served as financial advisor to I Squared
• I Squared Capital has over $36 billion in assets under management

I Squared Capital has agreed to acquire VLS Environmental Solutions, a provider of waste and specialty cleaning and repair services. The seller is Aurora Capital Partners. No financial terms were disclosed.

VLS operates two principal segments: non-hazardous industrial waste handling, treatment, and sustainable disposal, as well as rail and marine specialty cleaning and repair.

The transaction is expected to close in the third quarter of 2022.

Houlihan Lokey served as lead financial advisor, Robert W. Baird served as co-financial advisor, and Gibson, Dunn & Crutcher LLP served as legal advisor to Aurora Capital Partners. Jefferies LLC served as financial advisor and Kirkland & Ellis LLP served as legal advisor to I Squared Capital.

I Squared Capital has over $36 billion in assets under management focusing on energy, environmental infrastructure, utilities, digital infrastructure, transport and social infrastructure in North America, Europe, Latin America and Asia. It is headquartered in Miami.

Aurora Capital Partners has over $4.5 billion in assets under management. Founded in 1991, Aurora invests in the middle market.