ICV Partners Acquires Significant Stake in California Asbestos Abatement Firm
- Editor
- Jan 27
- 2 min read
What's Happening: ICV Partners, a leading investment firm, has acquired a significant ownership interest in Environmental Remedies, LLC (ERI), a California-based asbestos abatement service provider. This move marks ICV's entry into the residential services space, focusing on essential, non-discretionary services.
The Key Moves:
ICV Partners acquires significant stake in Environmental Remedies, LLC, a leading California asbestos abatement firm.
ERI specializes in non-discretionary asbestos abatement services for fire and water damage restoration.
The partnership aims to accelerate ERI's growth through infrastructure development, leadership enhancement, and operational improvements.
By The Numbers :
ERI was founded in 2004 and operates in the Bay Area, San Diego, and the Inland Empire.
ICV Partners typically invests in companies with $25 million to $250 million in revenue.
ICV Partners recently celebrated its 25th anniversary.
Key Quotes:
Scott Tamayo, ERI's CEO: 'ICV is a great fit for the vision we have for ERI. They can help us accelerate the build-out of our infrastructure, develop our talented leadership team further, and enhance our operational capabilities.'
Jermaine Warren, Managing Director at ICV Partners: 'In ERI, we believe we have partnered with the leading asbestos abatement service provider in California, favorably positioned and poised to capitalize on both organic and inorganic growth opportunities.'
Brad Steinle, President of ERI: 'With ICV's support, we will enhance our operational capabilities, invest in our team, and expand our market presence.'
The Bottom Line: ICV Partners' acquisition of a significant stake in Environmental Remedies, LLC represents a strategic move into the essential services sector. The partnership aims to leverage ICV's expertise in scaling family-owned and founder-led companies to accelerate ERI's growth, enhance its operational capabilities, and expand its market presence in California's asbestos abatement industry.
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