Coalesce Capital Acquires Leading Environmental Services and Waste Processing Firm, Miller Environmental Group

NEW YORK, NY & CALVERTON, NY – September 11, 2024 – Coalesce Capital, a private equity firm focused on investing in business services companies, announced today that it has entered into a definitive agreement to acquire Miller Environmental Group, Inc. (“Miller” or the “Company”), a leading provider of essential waste, industrial, and environmental services across the United States, from GenNx360 Capital Partners (“GenNx360”). Financial terms of the transaction were not disclosed.

Miller operates 30 locations throughout the United States and is vertically-integrated across the waste, industrial, and environmental services value chain, with 22 field service branches and a portfolio of 10-day transfer facilities and treatment, storage, and disposal facilities (TSDFs) for waste processing. Coalesce will support Miller’s next phase of growth through investments in human capital, technology, and add-on acquisitions to expand the Company’s branch and facility network and service to its customers.

“We are thrilled to partner with Coalesce Capital in our next phase as we continue to leverage the market reputation, capability set, and nationwide footprint of the Miller platform,” said Rudy Streng, CEO of Miller. “With the Coalesce team’s experience building businesses in the services sector, we are poised to accelerate our growth in the next chapter. We would also like to thank our partners at GenNx360 Capital Partners for their contributions and strategic insight over the past several years.”

“Waste, industrial, and environmental services represents a highly attractive investment opportunity, driven by essential spending, regulatory tailwinds, and market fragmentation. Miller serves more than 1,800 customers with its complementary services and national reach. We look forward to partnering with Rudy and the management team during the Company’s next phase of growth,” said Stephanie Geveda, Founder & Managing Partner at Coalesce Capital.

“Miller is differentiated by its vertically-integrated delivery model, market reputation for quality and safety, and broad service offering,” added Curtis Roby, Managing Director at Coalesce Capital. “We aim to capitalize on these strengths to accelerate Miller’s growth trajectory.”

“We are pleased with Miller’s performance and the transformation it has achieved over the past several years. We wish the management team and Coalesce Capital all the best going forward,” said Ron Blaylock, Co-Founder and Managing Partner at GenNx360.

“Our partnership with Miller has been a testament to GenNx360’s proactive investment strategy and ability to support management teams in achieving exceptional organic and inorganic growth. Miller is well positioned for continued success,” added Pratik Rajeevan, a Principal at GenNx360.

Stifel and Houlihan Lokey served as financial advisors and Winston & Strawn LLP served as legal advisor to Miller and GenNx360. Brown Gibbons Lang & Co. served as financial advisor and Greenberg Traurig served as legal advisor to Coalesce Capital.

Original Release