Lightyear Capital, a private equity firm with a focus on financial services, last week announced that its Lightyear Fund has led an investor group in acquiring Baker Tanks, a liquid and solid containment equipment rental and leasing services company.

Founded 60 years ago, Baker Tanks operates in the liquid and solid containment equipment rental and leasing industry, a $2 billion market in the United States. Baker maintains a fleet of 15,300 units servicing industries including industrial and environmental services, environmental remediation, oil and gas, construction, refinery, chemical, transportation and power.

Lightyear led an investment team comprised of the Caisse de depot et placement du Quebec, a Canadian institutional investor; Goldman Sachs Mezzanine Partners II and Baker’s existing management team. Lightyear is a New York-based private equity investment firm that makes control investments in mid-sized companies within the financial services industry.