Deal Details

LES Is Acquired by Goldman Sachs Infrastructure Fund

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Summary

About

LES is a leading national service provider within the circular economy, managing non-hazardous liquid waste for its blue-chip customer base through a high-quality network of scaled infrastructure assets. LES collects, treats and beneficially recovers materials from a variety of liquid waste sources including grease traps, oil water separators, used cooking oil and other non-hazardous liquid waste for the restaurant, grocery chain, hospitality, education and environmental services sectors. The Company services its highly diversified customer base from a network of 64 service locations and 26 treatment and processing facilities. LES is headquartered in Irving, Texas.

Audax manages three strategies: its Flagship and Origins private equity strategies, seeking control buyouts in the core middle and lower middle markets, respectively, and its Strategic Capital strategy that provides customized equity solutions to PE-backed portfolio companies to help drive continued growth. With approximately $19 billion of assets under management as of March 2025, over 290 team members and 100-plus investment professionals, Audax has invested in 175 platforms and over 1,400 add-on acquisitions since its founding in 1999. With offices in San Francisco, New York, London and Hong Kong SAR, Audax is headquartered in Boston, Massachusetts.

Established in 2006, Goldman Sachs Infrastructure Fund has consistently navigated the evolving infrastructure asset class, having invested approximately $16 billion in infrastructure assets across market cycles since its inception. The business partners with experienced operators and management teams across multiple sectors, including circular economy, digital infrastructure, energy transition and transportation and logistics. Goldman Sachs Infrastructure Fund is headquartered in New York, New York.

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