SK Capital Acquires Milestone Environmental Services

Since 2014, Milestone has sequestered more than 2 million tons of CO2e through its proprietary slurry injection process.

SEATTLE (Waste Advantage): SK Capital Partners has announced that its affiliates have completed the acquisition of Milestone Environmental Services, LLC, a leading environmental services and carbon management company, from Amberjack Capital Partners, L.P. SK Capital has taken a controlling stake in Milestone in partnership with President and CEO Gabriel Rio, who will continue to serve in that role and retain significant ownership in the Company. Mr. Rio founded Milestone in 2014 and, alongside a strong management team and dedicated employee base, the Company has become the largest independent provider of waste management services and an emerging leader in permanent carbon sequestration services to the United States energy and industrial sectors.

Headquartered in Houston, Texas, Milestone operates a leading integrated network of waste management infrastructure that reduces its customers’ carbon impact by permanently sequestering hydrocarbon-containing energy waste, preventing greenhouse gas emissions and water and ground contamination. Since 2014, Milestone has sequestered more than 2 million tons of CO₂e through its proprietary slurry injection process.

In addition to expanding its leadership in existing markets, Milestone has the strategy, capabilities, and operating track record to play a major role in the rapidly growing Carbon Capture and Sequestration (CCS) market, a critical component of addressing global climate change. Leveraging its core competencies in waste sequestration, complex permitting and regulatory compliance, subsurface rights leasing, and geology analysis, Milestone’s CCS subsidiary, Milestone Carbon, is focused on enabling a broad range of industrial CO₂ emitters to meet their decarbonization goals by developing and operating injection sites that permanently and securely sequester CO₂. Milestone Carbon has several CCS projects under development and recently announced significant progress in its Midland Basin project.

Jack Norris, a Managing Director of SK Capital, stated, “We are highly impressed with the market-leading, sustainability-driven business that Gabriel and the Milestone management team have built. It is well-positioned to further grow its core business in difficult-to-abate industries as environmental regulations become more stringent and Milestone’s customers are increasingly focused on meeting ambitious decarbonization targets. We are excited to partner with management to capture this growth opportunity as well as support its further progress towards becoming a leader in CCS and other related markets.”

Mr. Rio noted, “SK Capital’s industry and operating expertise and track record of successfully partnering with management teams to execute transformational strategies make it an ideal partner for Milestone at this phase of our journey. I am grateful to work with the premier management team in our industry, and we look forward to partnering with SK Capital to realize the shared vision we have for the Company.”

Mr. Rio added, “We founded Milestone to boldly advance sustainability in the energy industry and beyond. Our offerings enable companies to reduce their carbon footprint and enhance their ability to meet sustainability goals. Permanent, safe sequestration of carbon is an essential part of combating climate change, and Milestone has the strategy and capabilities to play a leading role in delivering solutions to multiple industries.”

Courtesy: www.wasteadvantage.com

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