ACON Investments LLC and its affiliates purchased Pine Environmental Services LLC.
Windsor, N.J.-based Pine provides environmental test and measurement equipment solutions in North America. Lower-middle-market investor Saw Mill Capital LLC exited the company, according to S&P Global Market Intelligence data.
Pine's management team will become significant shareholders of the company, alongside its new private equity owner.
John Roush, an executive adviser to ACON, will join Pine's board.