Simpson Thacher advised I Squared Capital ("I Squared") in connection with the signing of a definitive agreement to acquire Milestone Environmental ("Milestone"), a leading independent environmental infrastructure company providing waste management solutions across the energy and industrial sectors. Milestone is being acquired from SK Capital Partners.
Headquartered in Houston, Texas, Milestone owns and operates 15 fully permitted disposal facilities for oil and gas drilling, completion, and production waste streams strategically located across the most active U.S. energy basins, including the Permian's Delaware and Midland sub-basins, the Eagle Ford and the Haynesville. Through its integrated network and proprietary processes, Milestone provides end-to-end treatment and disposal solutions for both liquid and solid waste streams generated by oil and gas production. The company has also begun expanding into industrial waste management, applying its regulatory expertise and infrastructure capabilities to a broader range of hazardous and non-hazardous industrial waste streams. The transaction is expected to close in Q4 2026, subject to customary closing conditions and regulatory approvals.
The Simpson Thacher team includes Shamus Crosby, Chris May, David Bumgardner, Tushar Parashar, Chris Chiavaroli, Kelsey McKechnie and Katelyn Anderson (Energy & Infrastructure); Timothy Gallagher and Helene Marie Snyder (Real Estate); David Rubinsky, Kait Hulbert and Maria Meyerhoefer (Executive Compensation & Employee Benefits); Lori E. Lesser and Isabella Gonzalez (Intellectual Property, Privacy and Cybersecurity); Brian Steinhardt, Dorothy Hector and Carrie Han (Banking & Credit); Andrew Purcell, Andrew Wasilick and Joshua Murphy (Tax); and Peter Guryan and Daniel Owsley (Antitrust).