STELLUS CAPITAL MANAGEMENT, LLC PROVIDES UNITRANCHE FINANCING IN SUPPORT OF ICV PARTNERS' INVESTMENT IN ENVIRONMENTAL REMEDIES, LLC
- Editor
- Feb 18
- 1 min read
Whats Happening:
Stellus Capital Management has announced that its affiliates provided senior debt financing and an equity co-investment to support ICV Partners' investment in Environmental Remedies, LLC (ERI). ERI is a leading asbestos abatement service provider in California, specializing in non-discretionary services for restoration and insurance end markets.
Key Moves:
Stellus provides senior debt financing and equity co-investment for ICV Partners' investment in ERI
ERI specializes in asbestos abatement services for restoration and insurance markets in California
ICV and Stellus aim to support ERI's growth through operational enhancements and geographic expansion
By The Numbers:
ERI founded in 2004
ERI operates across the State of California
ERI focuses on non-discretionary demand drivers of fire and water damage
Key Quotes:
"ERI's focus on the restoration and insurance end markets is a strong fit with our investment strategy of backing essential service providers whose services are non-discretionary," said Jermaine Warren, Managing Director at ICV
"We are thrilled to partner with ICV on this transaction and look forward to supporting the ERI team as they enhance operational capabilities and scale market presence through geographic expansion and acquisitions," added Doug Bollermann, Managing Director at Stellus
Bottom Line:
Stellus Capital Management's financing support for ICV Partners' investment in Environmental Remedies, LLC demonstrates a strategic move in the essential services sector. This partnership aims to capitalize on ERI's strong position in the non-discretionary asbestos abatement market, with plans for operational enhancements and geographic expansion to drive growth.
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