Ridgemont Equity Partners on Tuesday, Aug. 4, said it’s acquired Entact LLC, a provider of environmental remediation and geotechnical services, from J.F. Lehman & Co.

Charlotte, N.C.-based Ridgemont didn’t disclose financial terms of the transaction, which will see Entact’s management team remain meaningful investors in the business and continue to lead the company.

The Deal reported in June that Westmont, Ill.-based Entact was in the late stages of a sale process, with Brown Gibbons Lang & Co. conducting an auction. The company generates roughly $100 million in Ebitda, The Deal said, adding that around five finalists — all financial sponsors — had made it past the management presentations round.

Founded 35 years ago, Entact provides environmental remediation and geotechnical services to private and public sector customers across the U.S. The company operates from 18 office locations and nearly 50 project sites nationwide and employs about 900 associates. Its services include coal ash management, dredging, radiological services, water treatment, dewatering, stormwater management, erosion and sediment controls, wetlands restoration, shoreline stabilization and wet soil conditioning.

J.F. Lehman acquired Entact in December 2020 for undisclosed terms, with management retaining a significant stake.

Ridgemont said its investment fits within its environmental, power and infrastructure services effort inside its industrials strategy. The firm plans to support the company as it expands its service offering, geographic reach and market position.

Ridgemont specializes in middle market buyouts and growth capital for sectors including tech-enabled services, healthcare and energy, focusing on building long-term value in established companies across the U.S. and Canada. It invests up to $500 million in equity in companies with enterprise values of $100 million to more than $1 billion.

In September, Ridgemont announced the close of its Ridgemont Equity Partners V fund, surpassing its $2.75 billion target with a total $3.98 billion in commitments.

New York-based J.F. Lehman exclusively invests in middle market aerospace, defense, maritime, government and environmental companies. It typically seeks to make equity investments of $75 million to $750 million in platform companies with Ebitda of $15 million to $150 million across North America and Europe, the firm said on its website.

It closed its sixth fund, JFL Equity Investors VI, in December 2024 with $2.23 billion in investor commitments, significantly above its $1.6 billion target.

BGL and AEC Advisors LLC were financial advisers to Entact, while Alain A. Dermarkar and Kyle M. Park of Allen Overy Shearman Sterling LLP provided counsel. Entact’s management tapped Blank Rome LLP for counsel.

Harris Williams LLC was financial adviser to Ridgemont, with Kirkland & Ellis LLP providing counsel. Partner Ryan Jack worked on the investment internally.