J.F. Lehman & Company Establishes New Environmental Services Platform

Acquires majority stakes in Reclamation Technologies USA and Tradewater to form a leading provider of closed-loop services for industrial and refrigerant gases

Jan. 28, 2026 at 3:55pm

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J.F. Lehman & Company, a leading alternative asset manager, has acquired majority stakes in Reclamation Technologies USA and Tradewater to establish a new growth-oriented environmental services platform focused on the lifecycle management of industrial and refrigerant gases and the mitigation of uncontrolled sources of methane. The combined platform will offer a range of specialized closed-loop services, including gas collection, processing, reclamation, and destruction capabilities.

Why it matters

The formation of this new platform reflects J.F. Lehman & Company's conviction in the structural growth potential of the environmental services sector, driven by increasing regulatory complexity and end-market demand for specialized closed-loop services. The combination of Reclamation Technologies USA and Tradewater establishes a market leader with unique capabilities and a strong foundation for continued growth through both organic and acquisitive means.

The details

The acquisitions of Reclamation Technologies USA and Tradewater represent foundational investments for J.F. Lehman & Company's new environmental services platform. Reclamation Technologies USA is a full-service refrigerant recovery and reclamation provider, while Tradewater specializes in the collection and control of refrigerant and methane gases, including the locating and plugging of orphaned and leaking oil and gas wells. The combination of these two businesses will create a go-to provider of closed-loop services, with capabilities spanning the entire lifecycle of industrial and refrigerant gases.

  • J.F. Lehman & Company announced the acquisitions on January 28, 2026.

The players

J.F. Lehman & Company

A leading alternative asset manager focused exclusively on the aerospace, defense, government, maritime, environmental, and infrastructure sectors.

Reclamation Technologies USA, LLC

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.

Tradewater LLC & Affiliates

A company that specializes in the collection and control of refrigerant and methane gases, including the locating and plugging of orphaned and leaking oil and gas wells across the United States.

Jeff Laborsky

Appointed as Chief Executive Officer of the combined platform.

Katelyn Imrie

Appointed as President of the combined platform.

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What they’re saying

“We are thrilled to launch JFLCO's newest platform by entering this growing and highly fragmented sector – the investments in RTI and Tradewater establish a market leader with unique capabilities, and represent a strong foundation for continued growth. We're excited to partner with Jeff and Katelyn to build upon the strong foundation that RTI and Tradewater have established.”

— Glenn Shor, Managing Partner at JFLCO (prnewswire.com)

“We are partnering with a proven, highly capable management team with demonstrated ability in establishing and scaling specialized environmental services platforms. Together, we see a compelling opportunity to accelerate growth through disciplined M&A and organic investment, positioning the Company as the acquiror of choice in a highly fragmented market.”

— Dave Thomas, Partner at JFLCO (prnewswire.com)

“We are excited to partner with J.F. Lehman & Company and our talented teams at RTI and Tradewater to build a leading, differentiated platform in this attractive and growing market. Together, we share a clear strategic vision and a strong alignment around disciplined growth, operational excellence, long-term value creation, and climate impact.”

— Jeff Laborsky, Chief Executive Officer of the combined platform (prnewswire.com)

What’s next

The combined platform plans to pursue further acquisitions and organic growth opportunities to expand its capabilities and market reach.

The takeaway

This acquisition represents J.F. Lehman & Company's strategic move to establish a leading environmental services platform focused on the lifecycle management of industrial and refrigerant gases, positioning the company to capitalize on the growing demand for specialized closed-loop services in this fragmented market.