Affiliates of Stellus Capital Management provided senior debt financing and an equity co-investment in support of ICV Partners’ investment in Environmental Remedies, an asbestos abatement service provider in the state of California.
“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,” Jermaine Warren, managing director at ICV, said. “We appreciate Stellus’ support of ERI and look forward to their partnership as we capitalize on both organic and inorganic growth opportunities.”
“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,” Doug Bollermann, managing director at Stellus, said.
