Infrastructure M&A Transactions

James Cocita Featured on Waste 360’s Waste World Podcast

Waste 360 Cocita Feb 2026 Website Media Graphic 1

BGL Managing Director James Cocita, who is a senior member of the firm’s Environmental Services investment banking and Environmental Infrastructure investment banking teams, recently appeared on Waste 360’s Waste World Podcast to discuss mergers & acquisitions in the environmental services industry.

On the podcast, they cover the transactions and trends that defined 2025, evolving investor priorities, and why consolidation continues to reshape the sector and environmental service M&A.

BGL’s Environmental Services investment banking team has been ranked #1 in Environmental Services transaction volume in North America since 2016. Our experience in Environmental Services includes waste & recycling, including solid waste, industrial & special waste, and waste-to-energy, specialty environmental services, and tech-enabled services. Our industry-focused bankers offer highly specialized expertise and long-standing relationships that serve to maximize the opportunities available to our clients.

For all of James’ insights, listen to the full episode on the Waste 360 website.

Effram Kaplan quoted in, “Is a better economy a worse environment for waste M&A?,” Waste Dive

BGL’s Head of Services and Infrastructure Effram Kaplan recently quoted in an article published by Waste Dive entitled, “Is a better economy a worse environment for waste M&A?”

In the article, Effram discusses the state of waste management M&A across the environmental services industry, noting that the sector remains ripe for consolidation as market conditions stabilize and interest rates decline.

BGL’s Environmental Services investment banking team has been ranked #1 in Environmental Services transaction volume in North America since 2016, according to Pitchbook.com. Our experience in Environmental Services includes waste & recycling, including solid waste, industrial & special waste, and waste-to-energy, specialty environmental services, and tech-enabled services. Our industry-focused bankers offer highly specialized expertise and longstanding relationships that serve to maximize the opportunities available to our clients.

For all of Effram’s insights, read the complete article on the Waste Dive website.

The 2026 WWETT Show

The 2026 Water & Wastewater Equipment, Treatment & Transport Show (the WWETT Show) is the world’s largest annual trade show for wastewater and environmental service professionals.

BGL Managing Director Eliott Musick and Director David Silver will be attending this year’s conference and available to discuss upcoming opportunities in the environmental services market.

BGL’s Infrastructure Services investment banking team focuses on businesses that perform essential maintenance, repair, inspection, and construction services for critical infrastructure assets. Our sector-focused bankers offer industry expertise and deep relationships, including a comprehensive understanding of the key drivers impacting service providers to critical transportation, water, power and utility, telecom, and energy markets.

BGL Advises Reclamation Technologies USA

Reclamation Technologies Inc. has been acquired by J.F. Lehman & Company.

Client Description

Headquartered in Indianapolis, IN, RTI is a full-service refrigerant recovery and reclamation provider offering end-to-end services, including on-site gas recovery, reclamation, advanced separation of mixed gases, cylinder exchange programs, and reclaimed and virgin gas sales.

The transaction was completed in connection with J.F. Lehman & Company’s acquisition of Tradewater LLC & Affiliates, establishing a new growth‑oriented environmental services platform addressing lifecycle management of industrial and refrigerant gases and the mitigation of uncontrolled sources of methane.

BGL Announces the Acquisition of Reclamation Technologies USA and Tradewater LLC & Affiliates to Establish a New Environmental Services Platform Led by J.F. Lehman & Company

Brown Gibbons Lang & Company (BGL), a leading independent investment bank and financial advisory firm, is pleased to announce that Reclamation Technologies USA (RTI), a leading provider of full‑service refrigerant recovery and reclamation solutions, and Tradewater LLC & Affiliates (Tradewater), a global leader in the collection and control of high-impact refrigerant and methane gases, have been acquired by investment affiliates of J.F. Lehman & Company (JFLCO), establishing a new growth-oriented environmental services platform addressing lifecycle management of industrial and refrigerant gases and the mitigation of uncontrolled sources of methane. BGL’s Environmental Services investment banking team served as the exclusive financial advisor to RTI. The specific terms of the transaction were not disclosed.

Headquartered in Chicago, IL, Tradewater sources, aggregates, and coordinates the destruction of high global warming-potential refrigerant gases across the world, eliminating the risk of release into the atmosphere. Capabilities also include the locating and plugging of orphaned and leaking oil and gas wells across the United States.

The combination of the two businesses establishes a go-to provider of closed-loop services, including collection, processing, reclamation, and destruction capabilities for gas waste with multiple actionable organic growth levers, and a commitment to full life-cycle refrigerant management. The combination of the two businesses will also serve as a platform for acquisitive growth and capability enhancement, reflecting JFLCO’s conviction in the structural growth potential of this sector, driven by regulatory complexity and end‑market demand for specialized closed‑loop services.

BGL’s Environmental Services & Infrastructure investment banking team has been ranked #1 in Environmental Services transaction volume in North America since 2016, according to Pitchbook.com. Our Environmental team focuses on businesses that perform essential services to the waste processing & disposal, water & wastewater treatment, waste-to-value, and waste-to-energy markets.

To learn more about BGL’s recent transactions in environmental services M&A, visit our Transactions page

BGL Managing Director James Cocita quoted in “Sponsor deal appetite surges in race for waste,” Mergermarket

BGL Managing Director James Cocita, who is a senior member of the firm’s Environmental Services and Infrastructure investment banking team, was recently quoted in a Mergermarket article entitled, “Sponsor deal appetite surges in race for waste.”

In the article, James discusses the continued strong interest in the waste and environmental sector from institutional investors who are seeking creative ways to deploy capital.

To read all of James’ insights, read the article on the Mergermarket website (subscription required).

BGL Promotes Two Investment Bankers to Managing Director

Brown Gibbons Lang & Company (BGL), a leading independent investment bank and financial advisory firm, is pleased to announce the promotion of James M. Cocita and Justin A. Wolfort to Managing Director.

Effram E. Kaplan and Andrew K. Petryk, Co-Chief Executive Officers for BGL, stated, “BGL’s strong sector focus is driven by our bankers’ commitment to their industries. James and Justin each have been with the firm for more than a decade, during which time they have demonstrated dedication to BGL and our valued clients. They have contributed substantially to our firm’s continued growth and success, and we look forward to seeing them succeed in their new roles.”

James Cocita joined BGL in 2015 and is a member of the firm’s Infrastructure and Services verticals. He focuses primarily on Environmental Infrastructure and Environmental Services. James has significant experience advising clients across the solid and specialty waste, specialty industrial services, and environmental field services sectors. His nearly two decades of advisory experience encompasses the strategic and capital markets needs, including mergers and acquisitions, recapitalizations, divestitures, and strategic alternatives for private, public, and private-equity backed companies.

Justin Wolfort also joined BGL in 2015 and is a member of the firm’s Industrials vertical, currently leading the firm’s coverage in Engineered Equipment. Justin is a trusted advisor to his clients across myriad subsectors, including process and automation equipment, electronic, electrical, power and utility equipment, industrial technologies, climate and flow control equipment, clean technology equipment, and material handling and conveyance equipment. His experience also includes a significant amount of time spent covering Diversified Industrials.

James and Justin are the latest Managing Directors to join BGL’s growing Managing Director headcount. Over the past 24 months, the firm has expanded its sector coverage within its Industrials, Consumer, Services, Infrastructure, Healthcare & Life Sciences verticals, along with adding to its Financial Sponsor Coverage capabilities.

Learn more about BGL’s investment banking capabilities and our sector expertise here.

BGL Opens New, Expanded New York Office to Support Continued Growth

Brown Gibbons Lang & Company (BGL), a leading independent investment bank and financial advisory firm, has relocated its New York office to 777 Third Avenue.

The new Midtown Manhattan location is reflective of BGL’s growth and expanding presence in one of the financial services industry’s largest hubs.

Effram Kaplan and Andrew Petryk, Co-Chief Executive Officers for BGL, stated, “Continued growth across BGL’s sector and product offerings has made the New York office an increasingly important base for the firm. We can more effectively deliver cross-sector and product collaboration to the corporate and institutional capital markets.”

The relocation follows a period of significant growth for BGL. Since 2023, the firm has increased its sector coverage via senior banker additions across all its verticals and broadened its product capabilities beyond traditional majority buyout to more expansive capital markets capabilities, including debt and non-control equity advisory.

Learn more about BGL’s investment banking capabilities and our sector expertise here.

Effram Kaplan Appears on Bloomberg TV to Discuss 2026 Dealmaking Landscape

Effram Kaplan of BGL appears on Bloomberg TV

BGL’s Co-Chief Executive Officer Effram Kaplan, who also leads the firm’s Infrastructure and Services verticals, recently joined Bloomberg TV to share his outlook on dealmaking in 2026.

In the segment, he shares how infrastructure investment, evolving deal structures, and the proliferation of products in the private markets are shaping dealmaking and creating new paths to liquidity.

Effram also discusses how greater clarity around key economic variables is a catalyst for future M&A activity, and explains the structural forces within the capital markets that are driving longer-term investment horizons.

To watch the full interview, visit Bloomberg’s website.

BGL Advises The Amlon Group

Heartwood Partners receives a single-asset continuation vehicle for The Amlon Group.

Client Description

Headquartered in Plano, Texas, The Amlon Group is a sustainability-focused waste solution provider specializing in waste-to-value processing, treatment, and management of a diverse set of hazardous and industrial waste streams. The Company offers customers expertise and a high-quality service that protects finite resources by remediating waste and recycling valuable commodities.