PE-backed MAX Environmental Holdings acquires LEI

MAX Environmental Holdings Inc, which is backed by Altus Capital Partners, has acquired LEI Inc, a provider of recycling and waste management services.

MAX Environmental Holdings Inc, which is backed by Altus Capital Partners, has acquired LEI Inc, a provider of recycling and waste management services. No financial terms were disclosed.

PRESS RELEASE

Pittsburgh, PA, July 12, 2021 – MAX Environmental Holdings, Inc., (“MAX” or the “Company”), owner of MAX Environmental Technologies, a fully integrated environmental treatment and disposal company that provides hazardous and non-hazardous waste transportation, processing, and disposal for the manufacturing, energy, and infrastructure markets has acquired LEI, Inc. (“LEI”). LEI is a leading supplier of a full line of recycling and waste management services. MAX is a portfolio company of Altus Capital Partners II, L.P., an investment firm focused on middle market industrial companies headquartered in the U.S. Financial terms of the transaction were not disclosed.

LEI operates two permitted facilities in the highly industrialized Gulf Coast region. Its customer base spans many industries and businesses that include refining, chemical manufacturing, oil and gas exploration and production, waste brokers, electricity generation and distribution and more. This acquisition with LEI expands MAX’s geographic reach into the region, enhances its capabilities with the addition of recycling technology, and provides access to strategically located permitted facilities for RCRA, Universal and Industrial waste.
“We are pleased to welcome LEI to the MAX team,” said Bob Shawver, President and CEO of MAX. “LEI’s partnership is an important first step in our strategy to expand geographically in the large market for the disposition of environmentally sensitive materials.”

Heidi Goldstein, Partner at Altus, commented, “The combination of an industry experienced management team at MAX and the location, facilities, skilled workforce, and permits at LEI, make us very optimistic about the growth of these businesses.”

Altus partnered with an industry experienced management team and entered the environmental segment in 2017 through its investment in MAX. This is its first add on acquisition for the Company.

About Max Environmental
MAX, a premier provider of environmental and waste management solutions, has served industry and government for more than 60 years. Situated in in Southwestern Pennsylvania, MAX has evolved into a diversified operation providing a complete line of waste management services to industries and government-funded cleanups in the entire Eastern and Ohio Valley portions of the country.

From waste collection to storage, treatment and disposal at our permitted treatment, storage, and disposal facilities (TSDFs), MAX Environmental is Pennsylvania’s only commercial operation for comprehensive inorganic hazardous waste treatment and on-site disposal of non-hazardous residual waste. Our offerings also include a state-of-the-art containment building, waste crushing, high volume waste treatment units and on-site disposal availability. For more information, please visit https://www.maxenvironmental.com/.

About Altus Capital Partners
Altus Capital Partners is a private equity firm that makes control investments in middle market manufacturing businesses that employ technology and automation. We believe that our exclusive focus on manufacturing provides us with a unique understanding of the opportunities and challenges faced by companies in the sector. We utilize a patient, thoughtful investment approach and partner with the management teams of our operating companies to achieve growth. For more information, please visit www.altuscapitalpartners.com.