Imperial Capital has sold Integral Consulting to Audax Private Equity
Integral Consulting
Integral Consulting is a premier environmental, health and natural resources consulting firm providing highly technical, mission-critical solutions to complex scientific, regulatory and litigation challenges. Founded in 2002, the company serves approximately 800 clients through a team of more than 450 scientists, engineers, regulatory specialists, testifying experts and corporate services team members across 30+ offices in the United States. Integral delivers a comprehensive suite of services spanning investigation and remediation, ecological sciences and design, toxicology, health and economic sciences and marine, coastal, climate and technology solutions, supporting clients across industrial, government, energy and utilities, commercial, legal and architecture end markets.
The Deal
Imperial Capital partnered with Integral in 2022 to support the company’s next phase of growth. During the partnership, Integral significantly expanded its platform through four strategic acquisitions and multiple acqui-hires, broadening its geographic footprint, strengthening its technical capabilities and enhancing its service offerings. The company also invested meaningfully in its leadership team and operating infrastructure, which helped drive strong organic growth and the expansion of one of the industry’s premier environmental consulting platforms.
With these objectives successfully achieved, Imperial and Integral engaged Lincoln International to identify the company’s next long-term partner. Leveraging Lincoln’s deep environmental consulting sector expertise and extensive relationships across the investor landscape, the process focused on identifying potential partners that not only possessed the resources to support Integral’s continued growth but also shared the company’s commitment to an employee-first philosophy, entrepreneurial culture and technical excellence. Following a highly competitive process, Audax Private Equity was selected as Integral’s next partner based on its strong cultural alignment, proven history of scaling professional services businesses and shared vision for the company’s long-term growth. Audax is investing in the company through its lower middle market Origins strategy.
Alex Hatzes, Principal at Imperial Capital, commented, “Lincoln’s deep sector expertise and understanding of Integral’s differentiated positioning were instrumental in delivering an outstanding outcome. The team brought the right buyers to the table, created and sustained competitive tension throughout the process and provided thoughtful, strategic guidance as we navigated key decisions from launch through close.”
Our Perspective
Jacob Kinstler, Lincoln Director who helps lead the firm’s Engineering & Consulting Services practice, commented, “Integral has built an exceptional business distinguished by its technical expertise, outstanding reputation and unique culture. From our earliest conversations with Ryan, Bill and the broader leadership team, it was clear that preserving the company’s culture and finding the right long-term partner would be just as important as achieving an outstanding transaction outcome. That philosophy deeply resonated with our team, making it a true privilege to represent Integral and Imperial throughout this process.”
Saurin Mehta, Managing Director and Global Head of Business Services at Lincoln, added, “We are proud to have helped secure the right partner to support Integral’s next phase of growth and are excited to watch the company continue to build on its remarkable success.”
Imperial Capital Group Ltd.
Based in Toronto, Imperial Capital is a leading lower-middle market private equity firm focused on North American opportunities to acquire and build growth-oriented platform investments in targeted industry niches within business services, consumer services, and healthcare. Imperial Capital combines deep industry expertise, active portfolio management and strong partnerships with experienced industry executives to offer a differentiated investment approach. As of March 31, 2026, Imperial Capital had over $3.5 billion of assets under management and, since inception, has invested in 32 platform investments and 283 add-on acquisitions (2021-2025). Imperial Capital is currently investing from Imperial Capital Acquisition Fund VIII, a $800 million fund.
Lincoln International was an outstanding advisor throughout this process. From day one, they understood what makes Integral unique - our people, our culture and our unwavering commitment to technical excellence. Their team worked tirelessly to identify partners who shared those values. We are grateful for Lincoln’s guidance and look forward to continuing to expand our capabilities, grow our team and deliver exceptional outcomes for our clients.
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