Month: February 2024

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Reaching New Heights At Indianapolis Airport

Posted on by Joe Ball

Milestone sets a standard for sustainable practices in construction, leaving an enduring mark on the construction industry.

Milestone Contractors achieved a remarkable feat last spring by undertaking the colossal task of removing, recycling and reconstructing the southern runway at Indianapolis International Airport. This ambitious project, aimed at creating a runway to serve the airport’s needs for the next 40-to-50 years, was executed with dedicated precision, resulting in a runway that spans an impressive 150 feet in width, comprising four 37.5-foot-wide pulls, each a substantial 22 inches thick.

“Most concrete paving contractors in the United States are not capable of going 37.5 feet wide,” noted Steve Friess, Vice President of Concrete Operations for Milestone Contractors. “When you get to that wide and 22 inches deep, it takes a special crew that understands the nuances of stacking concrete that deep.”

Beyond the physical challenges of a project on this scale, airport runway construction is heavily regulated by the Federal Aviation Administration (FAA). Safety concerns are paramount, and contractors can expect to have their work closely inspected every step of the way.

“[With] airport projects, the FAA has a lot of requirements, and they are very stringent about a lot of things because they need to be,” said Steve. “So, if you’re gonna pave at an airport, you have to be ready to do it a hundred percent because the requirements are the same across all the United States.”

Within the nearly 700-page blueprint that guided construction were additional specifications on the FAA’s sustainability requirements. Far from presenting a hurdle, Milestone Contractors embraced the requirements as an opportunity to be stewards of the planet for the next generation, employing environmentally conscious practices such as using four million gallons of recycled water for dust control and on-site concrete plant operations.

“We recycled 135,000 tons of concrete and 65,000 tons of asphalt that came off the shoulders of the runway and then went back,” said Steve.

A highlight of Milestone’s commitment to sustainable practices was the innovative use of carbon encapsulation injection into the wet cement. This forward-thinking approach aimed to encapsulate carbon and eliminate its presence from the atmosphere, highlighting the company’s dedication to pushing the boundaries of eco-friendly construction methods.

That commitment paid off. Consider the airport’s prestigious accolades: Indianapolis International Airport, already recognized as the best North American airport in its class for eleven consecutive years, added another feather to its cap (stripe to its pilot uniform?) by earning the Institute for Sustainable Infrastructure (ISI) Envision Platinum Award. Milestone Contractors played a pivotal role in achieving this recognition, showcasing a commitment to sustainable infrastructure practices that goes beyond the ordinary.

The reconstruction of runway 5L23 at the Indianapolis airport stands as a testament to Milestone’s unyielding dedication to sustainable construction. This project not only signifies the successful completion of a major undertaking but also represents a defining chapter for the entire Milestone team. The company’s reputation for delivering quality work on time and within budget is well-established, but this project allowed their values, expertise and commitment to sustainability to shine brightly.

“Milestone is a very unique company. Whether it’s concrete, asphalt, general construction pipe or whatever, it’s all done as a team,” boasted Steve. “We were able to answer the call because we have all the parts of the team to put together.”

About Milestone Contractors, L.P.
Milestone Contractors is a privately held, family-owned business headquartered in Indianapolis. Milestone Contractors is a fully integrated heavy construction company specializing in highway, bridge, asphalt and concrete paving and site development. Over its 30-year history, Milestone has built a reputation for prioritizing safety, quality, people and innovation. Milestone Contractors is a part of The Heritage Group’s family of companies. Learn more at www.milestonelp.com.

 

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EQT Infrastructure Assumes Majority Position in Heritage Environmental Services

Posted on by Joe Ball

The Heritage Group and the EQT Infrastructure VI fund (“EQT Infrastructure”) today announced that they have entered into a definitive agreement under which EQT Infrastructure will assume a majority position of Heritage Environmental Service (“HES”). The Heritage Group will continue to remain a shareholder in the company.

Since 1970, Heritage Environmental Services has been at the forefront of protecting human health and the environment. What started as a small family-owned operation in Columbus, Indiana, has evolved into a fully integrated environmental services company with over 1,600 employees nationally. The company provides a full suite of tailored solutions from emergency response, waste disposal, and sustainability services to on-site support and technical solutions to thousands of customers in hundreds of industries and verticals. Under its new structure, HES will remain a stand-alone platform led by its existing management team.

JD Vargas, Partner within EQT Infrastructure’s Advisory team, said, “EQT’s investment in HES is a continuation of a strong partnership we have developed with The Heritage Group over many years. The investment further expands EQT’s thematic approach of investing in critical businesses that have a positive impact on society. We are excited to partner with the HES team as we invest to accelerate growth and ensure environmental stewardship to customers nationwide.”

Jeff Laborsky, HES CEO, said, “EQT has been a strong partner to The Heritage Group, and we are excited to expand our relationship. Importantly, the concepts of a similar culture, treatment of our employees, respect for the communities we serve and commitment to a long-term partnership with THG were key criteria in selecting EQT as our partner. Combined with EQT, our joint commitment is to continue to bring the most innovative reuse, recycle, treatment, and disposal solutions in the United States. HES is at the forefront of providing sustainable solutions to our customers, and EQT’s partnership will accelerate our growth and investment in expanding our differentiated offerings. We couldn’t ask for a better partner as we embark on this next phase of our company’s evolution.”

The transaction is subject to customary conditions and approvals. It is expected to close by 1Q 2024. Financial terms of the transaction were not disclosed.

Truist Securities was the exclusive financial advisor to The Heritage Group, and Kirkland & Ellis LLP served as legal counsel in connection with the transaction. Nomura Securities served as financial advisor, and Simpson, Thatcher & Bartlett provided legal counsel to EQT Value-Add Infrastructure.

About Heritage Environmental Services
Heritage Environmental Services is in the business of eliminating industrial waste, and we have been making a difference for our clients since our beginning in the 1970’s. As a family-owned business headquartered in Indianapolis, we take pride in solving complex problems by offering a wide array of tailored solutions, from waste disposal, on-site support, and technical solutions to
emergency response, and sustainability services.

Each one of our 1,600+ employees play an integral role in the process, and our technology continues to be on the cutting edge of this critical industry that has become more imperative than ever.

About EQT
EQT is a purpose-driven global investment organization with EUR 232 billion in total assets under management (EUR 128 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.