Stout announced today that its client, LEW Corporation (“LEW” or the “Company”), has been acquired by Evolution Capital Partners (“Evolution”) and Mainline Environmental (“Mainline”). Stout served as exclusive financial advisor to LEW in connection with this transaction.

Headquartered in Mine Hill, New Jersey, LEW is a leading environmental services firm providing a full suite of testing, inspection, remediation, training, and related solutions to a broad base of public and private sector clients. LEW's service offerings specialize in addressing lead paint, asbestos, mold hazards and other common and noncommon indoor air and property related environmental concerns. LEW was founded in 1991 by Lee Wasserman, who will remain in his position as CEO post-acquisition.

“I am extremely happy with the outcome of this transaction and the guidance provided by the Stout team along the way,” said Mr. Wasserman. “By partnering with Evolution and Mainline, LEW and its talented team of committed partners embark on an exciting new chapter of growth.”

Jeffrey Kadlic, Founding Partner at Evolution, said, “We are incredibly excited about this new partnership and to welcome LEW to the Mainline Environmental group. Staffed by one of the most talented teams in the industry and supported by strong industry and regulatory tailwinds, LEW represents the perfect cornerstone for our new Mainline platform to build upon.”

Lee Wasserman will lead Evolution’s new environmental testing and compliance platform, Mainline, which completed its first acquisition of Enviroscience Consultants, Inc. (“ECI”) at the end of July. “With LEW now part of the Mainline family, we see great potential to continue to grow and develop the market-leading environmental consulting and technical services company in the Northeastern United States,” added Susan Williamson, Partner at Evolution.

“LEW has a history of excellence and has been making people’s living and working environments safer for decades,” said Stout Managing Director Steven Rathbone, who originated and led the transaction. “LEW’s unique technical expertise and differentiated business model provides a base from which significant potential for value-creation opportunities will continue to arise in both the public and private sectors. Lee Wasserman’s expertise and vision, coupled with professional, operational, and financial support from Evolution, position Mainline as an attractive environmental services platform poised for significant growth over the near-term.”

Stout’s Michael Brocious, Steven Simone, and Jack Dunsire assisted in executing the transaction.

Saiber LLC served as legal counsel to LEW.

See more information on Stout's Investment Banking services.