HOUSTON, Texas, Feb. 18, 2025 -- Stellus Capital Management, LLC ("Stellus") announced today that its affiliates provided senior debt financing and an equity co-investment in support of ICV Partners' ("ICV") investment in Environmental Remedies, LLC ("ERI" or the "Company"), a leading asbestos abatement service provider in the State of California.
Founded in 2004, ERI specializes in providing high-quality asbestos abatement services for remediation companies, insurance companies, and homeowners across the State of California. ERI has built its success by focusing on the non-discretionary demand drivers of fire and water damage and by being the go-to abatement partner in the industry.
"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, adding "We appreciate Stellus' support of ERI and look forward to their partnership as we capitalize on both organic and inorganic growth opportunities."
Doug Bollermann, Managing Director at Stellus, added, "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."
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