June 12, 2014 – New Canaan Funding (“NCF”) provided financing to support the acquisition of Enviro-Hydro Holdings, Inc. (“Enviro”) by RLJ Equity Partners. New Canaan Funding (“NCF”) provided subordinated notes and equity in Enviro as part of this acquisition.
Enviro, founded in 1999 as EnviroVac, is a leading provider of industrial cleaning and maintenance services with projects ranging from routine plant maintenance, utilizing high-pressure washing equipment and vacuum trucks, to planned plant outages. The Company recently expanded it footprint throughout the Southeast and Mid-Atlantic, building long-term relationships with customers and growing its reputation as a leading industrial cleaning and maintenance provider.
New Canaan Funding, with offices in New Canaan, Connecticut and Wheaton, Illinois, is a mezzanine firm focused on the middle market private sponsor community. Since its beginnings in 1995, NCF has targeted acquisitions, recapitalizations and growth financings in conjunction with its private equity clients. NCF is currently investing out of its fifth fund. The investment in Enviro represents NCF’s thirteenth investment in the fund. Enviro represents the second investment made with RLJ.
RLJ Equity Partners is a middle-market private equity firm focused on generating long-term capital appreciation by investing in profitable and growing businesses led by strong management teams. Founded in 2006 by Robert L. Johnson and The Carlyle Group, RLJ invests in traditional buy-outs, recapitalizations, and growth capital infusions.
Contact at New Canaan Funding:
Bradley A. Ament