In a decisive move to address the escalating complexities of industrial gas management and climate-related regulatory pressures, private equity firm J.F. Lehman & Company has announced the creation of a new, large-scale environmental services platform. This significant strategic initiative materialized through an investment affiliate’s acquisition of majority stakes in two specialized companies, Tradewater LLC and Reclamation Technologies USA (RTI), which will now serve as the foundational pillars of this new venture. The formation of this entity signals a major consolidation within the environmental gas services sector, creating a powerful new player focused on the complete lifecycle management of industrial and refrigerant gases. The platform is strategically positioned to capitalize on the growing demand for sustainable solutions and aims to provide comprehensive, end-to-end services for mitigating potent greenhouse gas emissions, including methane and high-global-warming-potential refrigerants. This venture is poised to reshape the landscape of environmental compliance and carbon market participation.
A Strategic Consolidation in Environmental Services
The establishment of this new platform was meticulously executed through the acquisition of controlling interests in two distinct yet complementary organizations. J.F. Lehman & Company’s investment affiliate strategically brought Tradewater LLC and Reclamation Technologies USA (RTI) under a single umbrella, effectively creating a unified entity with a broad spectrum of capabilities. This combination is designed to forge a market leader by integrating the unique strengths of both companies. The platform is built to offer a full suite of closed-loop services, encompassing everything from the initial collection and processing of gas waste to its final reclamation or environmentally secure destruction. This approach addresses a critical need in the market for a single, comprehensive provider that can manage the entire lifecycle of hazardous and high-impact gases, simplifying compliance and sustainability efforts for a diverse industrial client base. The new entity intends to serve as a primary acquirer in a highly fragmented market.
The primary driver behind this consolidation is the convergence of increasingly stringent environmental regulations and a heightened corporate focus on sustainability. As governments and industries worldwide intensify efforts to combat climate change, the demand for sophisticated gas management solutions has surged. The new platform is engineered to meet this demand head-on by leveraging the specialized expertise of its foundational companies. Its growth strategy is multifaceted, relying on both organic expansion initiatives and a disciplined merger and acquisition plan to further enhance its service offerings and geographic reach. By creating a one-stop shop for gas waste services, the platform provides clients with a streamlined and effective pathway to not only meet regulatory requirements but also achieve their own environmental, social, and governance (ESG) objectives, generating significant value for stakeholders and making a tangible climate impact.
Operational Synergies and Proven Leadership
The operational strength of the new platform lies in the distinct and synergistic capabilities of its acquired companies. Tradewater specializes in a critical and high-impact area of environmental service: the collection and permanent destruction of high-global-warming-potential refrigerant gases and the mitigation of methane emissions. Its operations are global in scope, sourcing harmful gases for destruction and actively locating and plugging orphaned or leaking oil and gas wells throughout the United States. These activities are instrumental in generating valuable carbon offset credits, which are then sold into both compliance-driven and voluntary carbon markets, creating a sustainable business model that directly incentivizes positive environmental action. In contrast, Indianapolis-based RTI brings a deep expertise in the practical aspects of refrigerant recovery and reclamation, providing essential on-site gas recovery services, advanced separation of mixed gases, and efficient cylinder exchange programs that are vital to the circular economy.
To steer this ambitious venture, a new and experienced management team has been installed at the platform level. Jeff Laborsky has been appointed as Chief Executive Officer, with Katelyn Imrie serving as President, bringing a wealth of industry and leadership experience to guide the platform’s strategic direction. Leadership at the subsidiary level will see a blend of continuity and new appointments to ensure operational excellence and seamless integration. Rodney Pierce will continue in his role as President of RTI, maintaining stability and deep institutional knowledge within that organization. Concurrently, Kirsten Dueck has been named Chief Executive Officer of the Tradewater business, poised to lead its next phase of growth. Critically, Tradewater’s co-founders, Tim Brown and Gabriel Plotkin, will remain actively engaged with the company, providing invaluable strategic counsel and ensuring the preservation of the company’s core mission and innovative spirit as it integrates into the larger platform.
A Vision for Sustainable Growth
The unified strategic vision articulated by stakeholders from JFLCO and the new platform’s leadership centered on a commitment to disciplined growth and the creation of lasting value. This forward-looking plan was designed not only to achieve financial success but also to make a significant and measurable positive impact on the climate. The foundation for this vision rested on integrating the specialized services of Tradewater and RTI into a cohesive, full-lifecycle management solution for environmentally sensitive gases. The executive team emphasized that their focus would be on operational excellence, ensuring that the combined entity delivered best-in-class service while pursuing a disciplined merger and acquisition strategy. This allowed the platform to scale its operations effectively, solidifying its position as a market leader in a rapidly evolving sector. The collaboration aimed to unlock new efficiencies and innovations, setting a new standard for environmental responsibility in the industry.
