LES specialises in collecting and treating commercial and industrial liquid waste streams and extracting and recycling fats, oils and grease for reuse.
ABS general partner Phil Clough will join the LES board of directors as part of the deal.
Clough said, “Liquid Environmental Solutions is already the industry leader in non-hazardous waste water and is well-recognized for its environmental stewardship.
“This is an outstanding opportunity to work with a strong, entrepreneurial management team and help them to continue to execute on their growth strategy.”
The Texas-based business said it would use the funds to continue its growth through targeted acquisitions and greenfield expansion for its activities.
As well as ABS, several non-employee members of LES’ board of directors also participated in the latest investment round.
ABS is thought to have tapped its seventh fund for the deal. That vehicle closed $100m above its $400m target in October 2011 just five months after it launched.
LPs in the fund included family offices such as Abbott Capital, Johns Hopkins University and WP Global Partners.
The later-stage’s growth investor firm’s other investments this year include leading a $12m financing round for audio technology company iZotope.
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