Tag Archives: Waste Management

EQT Infrastructure to acquire a majority position in Heritage Environmental Services, a leading provider of industrial waste management

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Industrial waste management services constitute a vital segment of the industrial manufacturing and production process by ensuring reliable and compliant final disposal of specialized and highly regulated waste

Transaction highlights EQT’s commitment to partnering with purpose-driven companies that provide essential services to society. Heritage Environmental Services owns and operates 37 mission critical assets that provide the last line of defense for the environment

EQT Infrastructure to accelerate Heritage’s future growth trajectory with EQT’s extensive experience in the environmental services sector through investments in sustainability, digitalization, and operational excellence

EQT is pleased to announce that the EQT Infrastructure VI fund (“EQT Infrastructure”) has agreed to acquire a majority position in Heritage Environmental Services (“HES” or the “Company”) from The Heritage Group. Founded in 1970, HES is a family-owned leading provider of sustainability and industrial waste management services in the US. The Company is headquartered in Indianapolis, IN and has 37 highly regulated facilities strategically located in key industrial hubs across the US. HES and its nearly 1,600 full-time team members safely manage approximately 660 thousand tons of industrial waste per year for more than 1,800 customers. The company’s wide array of tailored solutions from waste disposal, on-site support, and technical solutions to emergency response and sustainability services, address customers’ complex waste problems across more than a thousand waste types.

Industrial waste management is a vital part of the waste disposal value chain, offering total elimination of waste from the environment and enabling safe and sustainable industrial manufacturing and production. Compelling market tailwinds from US industrial output growth, manufacturing onshoring, bipartisan policy incentives such as the CHIPS and Science Act (CHIPS), and outsourcing is increasing the need for industrial waste management services. HES, with its 50+ year operational track record and national footprint, is well positioned to be a leading partner to industrial customers.

Juan Diego Vargas, Partner within the EQT Infrastructure Advisory team, said: “EQT and HES are proven business leaders who share a like-minded approach to environmental stewardship, and this acquisition aligns directly with EQT’s thematic approach of investing in businesses that provide essential environmental services to society. EQT is excited to partner with the entire HES team and to invest in organizational, operational and digital technology initiatives that will enhance HES’s ability to provide reliable and compliant final disposal to complex industrial waste challenges.”

This transaction highlights the strength of EQT’s Environmental Services practice and existing strong relationship with The Heritage Group. EQT previously partnered with The Heritage Group on its investment in Cirba Solutions, a premier battery recycling materials and management company. At transaction close, The Heritage Group will continue to remain a shareholder in the Company, building on the trusted partnership with EQT.

EQT’s purpose-driven investment model represents several growth opportunities for HES, whose business centers on being the last line of defense for the environment. EQT is committed to working closely with HES, providing both capital and operational support, to achieve compelling results for all stakeholders. Under EQT’s ownership, HES will continue to differentiate its service offerings, with a focus on innovation and sustainable services. EQT is committed to growing HES’s team, realizing near-term operational upgrades, enhancing customer partnerships and building greater trust with the industrial customers that HES serves.

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 in Q1 2024.

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

With this transaction, EQT Infrastructure VI is expected to be 20-25 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) based on target fund size.

The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of EQT Infrastructure VI will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.

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EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

 

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Eurazeo invests into 2BSI, an innovativeactor in circular economy and waste recovery

Eurazeo is delighted to announce its investment in 2BSI by its Transition Infrastructure Fund and will support the group in its decarbonisation strategy. Through this transaction, Eurazeo becomes the majority shareholder in 2BSI, alongside its historical investors, Garibaldi Participations and a pool of investors from the Caisse d’Epargne group (CELDA/CEPAL), and the management team.

Founded in 1993, 2BSI is a materials and energy recovery specialist operating in niche markets: recovery of concrete poles and sleepers (via its divisions SRB and Gravaloire) and class C hazardous wood (SRB and Gravaloire), manufacturing of composite poles (via its division Transalpes Composites), and recovery of bio-waste (via its division BME). The group has established long-term relationships with institutional customers (Enedis, Orange, SNCF, etc.) and has co-created solutions perfectly adapted to their needs, such as manufacturing of composite poles designed for Orange.

The group’s ambition is to address the challenges of the energy and ecological transition, and it is positioned today as a key player in the waste management and recovery space, with full control of its upstream and downstream processes, through: long-term contracts with customers, energy recovery of processed waste through two channels (biomass and biogas power plants), and a unique territorial network.

Through this investment in 2BSI, Eurazeo is tackling the challenge of accounting for ESG issues in the recovery of infrastructure waste. Eurazeo will support 2BSI in its transition, notably by putting in place an ambitious decarbonization trajectory in line with the Paris Agreement, and will study the possibilities of making the group’s activities more circular. Eurazeo’s investment will also support de development of the group, both organically and through targeted acquisitions. Eurazeo’s investment will also support the company’s development, both organically and through targeted acquisitions.

This is the sixth investment made by Eurazeo’s Infrastructure team, which is pursuing its ESG and sustainability objectives by supporting the energy transition and contributing to a low-carbon economy.

Richard Molina, CEO of 2BSI, declared:

« The 2BSI team and I are delighted to welcome Eurazeo as a new shareholder. Joining forces with a leading European fund is a strategic step in continuing our development as a major player in the highly specialized recycling business. We are convinced that this partnership will help us strengthen our leading position in the French regional market and accelerate the decarbonization of our activities and our development in biowaste. »

Martin Sichelkow, Managing Director – Infrastructure added:

« We are proud to invest in 2BSI, a French leader in the recovery of infrastructure waste and bio-waste. The quality of its management and the growth prospects of the markets it serves make 2BSI a key player in the waste management, and an important vector in the transition to a low-carbon economy. »

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Apollo Impact to Acquire Accent Family of Companies, a Leading Value-Added Distributor and Manufacturer of Baling Wires and Equipment Servicing the Recycling and Waste Management Industries

Apollo
Positions Trusted Brand for Continued Expansion Amid Increasing Focus on Sustainability & Recycling Solutions

NEW YORK, Aug. 07, 2023 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that funds managed by its affiliates (the “Apollo Funds”) have completed the acquisition of the Accent Family of Companies (“Accent” or the “Company”), which includes Accent Wire-Tie, Accent Wire-Tie United Kingdom and Accent Building Materials. Accent is a leader in the distribution and manufacturing of baling wires and wire-tier machines, which are core products used in the recycling and waste industries in the U.S., Canada, and the U.K. In addition, complementing its core recycling solutions business, Accent Building Materials is a regional wholesale distributor of building materials serving customers across the Sun Belt in the U.S. Existing investor Crossplane Capital (“Crossplane”) partnered with Accent’s founders, the Sims family, in 2019 to acquire a controlling interest in Accent. Crossplane and the Sims family will retain a minority stake in the Company. Financial terms were not disclosed.

Headquartered in Tomball, Texas, Accent plays a critical role in the recycling and waste management value chain by providing the baling wire, equipment, and services that are central to enabling the economical, efficient, and safe transportation of recycled materials. In doing so, Accent’s products and services contribute to the reduction of both landfilled waste and emissions. Additionally, the recycling and waste industries are resilient throughout economic cycles and can benefit from secular tailwinds including corporate sustainability initiatives, federal and state legislative actions designed to drive an increase in U.S. recycling volumes, and increasing consumer preference for sustainably produced products and packaging.

“We believe Accent is a critical supplier to the recycling industry poised for continued growth and impact, and we see several opportunities to help grow and develop the Company,” said Joanna Reiss, Partner and Co-Head of Impact at Apollo. “We look forward to partnering with Bill and the talented team at Accent to support its expansion globally, which we believe will contribute to the continued adoption of sustainable recycling practices leading to a decrease in landfilled waste and emissions in local communities.”

Bill Sims, CEO of Accent, said, “As we continue to grow Accent globally and capitalize on the opportunity set in front of us, we are delighted to partner with Apollo and the firm’s team of dedicated professionals who recognize the important role we have in driving a more sustainable future. With Apollo’s support, we believe we will be able to reach more customers and drive increased responsible consumption and production globally. We are also grateful for Crossplane’s support over the past four years and look forward to their continued involvement as a minority investor alongside the Apollo Funds.”

Brian Hegi, Crossplane’s Managing Partner, added, “Accent is well positioned to continue its steady growth for years to come as the Company cements its critical role in enabling the recycling process. We look forward to working with Bill, Joanna and their respective teams to expand Accent’s products into both new and existing markets.”

The Apollo Impact platform pursues private equity-like opportunities with the intention of creating positive, measurable social and/or environmental impact while generating attractive risk-adjusted returns. It looks to achieve impact at scale by investing in industry-leading companies that are helping to tackle the most pressing environmental and social challenges. Co-led by Ms. Reiss and Marc Becker, the Impact platform builds upon Apollo’s long-standing track record of engagement on sustainability issues that spans more than a decade.

Apollo was advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP, Latham & Watkins LLP, PwC, and the Bridgespan Group.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of June 30, 2023, Apollo had approximately $617 billion of assets under management. To learn more, please visit www.apollo.com.

About Accent Family of Companies

Founded in 1986, Accent is a full service, value-added industrial distribution company focused on the waste / recycling and building materials industries. Through its Wire-Tie division, Accent’s core offerings include baling wire distribution, bale tie manufacturing, wire-tier equipment manufacturing, and wire-tier parts and repair services to waste management providers, material recovery facilities, packaging companies and commercial customers throughout the United States, Canada and the United Kingdom. Through its Building Materials division, Accent is a regional distributor of roofing, concrete, drywall, and acoustical products to the construction industry under the Striker and NATCO brands throughout the west, southwest and gulf coast United States. For more information, please visit http://www.accentfamilyofcompanies.com/.

About Crossplane Capital

Launched in 2018, Crossplane Capital is a Dallas-based private equity firm that makes control investments in niche manufacturing, value-added distribution and industrial business services companies. The firm seeks to partner with lower-middle market companies to enhance financial performance and generate strategic value creation. For more information, please visit www.crossplanecapital.com.

Apollo Contacts

Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
212-822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
212-822-0491
Communications@apollo.com

Crossplane Contact

Katie Oswald
Managing Director of Business Development
Crossplane Capital
504-957-0014
katieoswald@crossplanecapital.com

 


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Source: Apollo Global Management, Inc.

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Ardian to acquire leading European waste management and circular economy platform Attero

Ardian

24 July 2023 Infrastructure Germany, Frankfurt

Ardian, a world-leading private investment house, announced today that it has signed an agreement for the intended acquisition of 100% of Netherlands-based Attero, one of the largest independent European waste management and circular economy platforms, active in the essential waste value chain segments of energy recovery, plastics recycling, and organic waste management.
Headquartered in Wilp, Attero is a leading Dutch operator of energy-from-waste, plastics recycling, biomethane production, and inert mineral depository facilities, processing 3.6mt of waste from municipalities and businesses and generating more than 800 GWh of renewable electricity, equivalent to powering 300,000 homes, as well as 22m m3 of green gas. As an integrated platform, Attero is a key contributor to the Dutch and European circular economy and energy transition and helps to address the energy independence and decarbonization challenges. Attero’s longstanding and wide-ranging industrial expertise brings a unique value proposition to the Dutch and European waste markets.
With Ardian’s investment, Attero stands to further capitalize on its leading position and integrated business model across the waste management value chain, providing an integral and essential service to communities and industries. Ardian plans to support Attero’s renewable energy expansion via significant capex investments into biomethane from organic waste and solar PV development on closed landfill sites. Furthermore, Attero will accelerate its contribution to the decarbonization of Dutch industry through the development of Carbon Capture and Storage facilities.
“We have been impressed by the operations and exceptional management team of Attero – a company that is a leader in waste management and circular economy solutions. This investment further demonstrates our strategy of supporting leading infrastructure businesses and further expanding our commitments in the Netherlands. We are looking forward to working with Paul and his outstanding management team to invest into sustainable long-term projects, to help realize Attero’s significant growth potential and to continue delivering best-in-class essential services to municipalities and industries as well as renewable energy to Dutch homes and businesses.” Daniel von der Schulenburg, Head of Infrastructure Germany, Benelux and Northern Europe, Ardian

“We are excited to partner with Ardian, a strong and industrially-minded infrastructure investor which has the expertise and capabilities to support us in this important next stage of our development. Together with Ardian’s support we will be able to invest significant funds into decarbonization plans and further increase our recycling activities.” Paul Ganzeboom, CEO, Attero

Closing of the investment is subject to customary closing conditions, including obtaining required regulatory approvals and work council consultation, and is expected to take place in Q4 2023.

List of participants

  • Ardian

    • Daniel von der Schulenburg, Federica Vasquez, Jeremy Haddak, Leonard Rasche, Jonas Kröger, Niranjan Bhardwaj
    • Accounting & Tax: Deloitte
    • Commercial: Arthur D. Little & Tolvik
    • Energy: AFRY
    • Insurance: Aon
    • Legal: De Brauw Blackstone Westbroek
    • M&A: Royal Bank of Canada
    • Technical & Environmental: Arup

Attero

Attero is a leading Dutch waste management and recycling company. Founded in 1929 and headquartered in Wilp, Attero has approximately 800 employees. Attero treats c. 3.6 million tons of waste per year in two Energy from Waste (“EfW”) plants, three recycling plants, six anaerobic digestion facilities, seven composting facilities and ten Inert Mineral Deposit (“IMD”) sites. Attero sources waste from a diverse mix of domestic municipalities, commercial and industrial customers, as well as exporters.

Ardian

Ardian is a world-leading private investment house, managing or advising $150bn of assets on behalf of more than 1,400 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian is part-owned by its employees and places great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 16 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

Press contact

Headland

ardian@headlandconsultancy.com

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BGF successfully exits waste management company RiverRidge

BGF

BGF has announced a successful exit of its investment in RiverRidge, Northern Ireland’s largest fully integrated waste management company.

Founded in 2011, RiverRidge started out as a small skip hire and landfill business and has since grown into Northern Ireland’s premier waste management, recycling and energy from waste company. Under the direction of CEO Brett Ross, the company now serves seven local authorities across the province and over 5,500 commercial clients, providing collection services and the treatment and disposal of over 400,000 tonnes of waste each year.

BGF partnered with RiverRidge in 2016, introducing experienced waste sector director Jim Meredith as non-executive chairman, to accelerate the growth of the business. BGF’s investment has helped the company to expand its operations across Northern Ireland (both organically and via acquisition), develop state-of-the-art recycling infrastructure, and build out the top tier management team.

Revenues have increased by 40% since 2016, and RiverRidge now employs 280 staff, across five sites in Belfast, Mallusk, Coleraine, Portadown and Derry/Londonderry. The company is also a minority stakeholder in Northern Ireland’s only energy from waste plant.

Cube Infrastructure Managers and Equitix Investment Management have jointly completed the acquisition of a majority stake in the business and now plan to pursue further growth, through delivering a pipeline of development opportunities, further improving treatment options in the Northern Irish market.

Graham Clarke, Investor at BGF, said: “It is fantastic to see RiverRidge attracting this significant investment to deliver the next phase of its ambitious growth plans. Over the past six years, we have developed a strong relationship with Brett and his team. It is therefore extremely pleasing that, following this investment, the company is well positioned for the next phase of its growth journey.”

“This is BGF’s second material exit in Northern Ireland in recent months, delivering another strong return of over 2x MM against BGF’s minority investment, and again underlines the quality of business and management teams that exist in the province. BGF is extremely proud to have played a part in supporting Brett and his team through a period of significant growth, and we wish them the best of luck as they continue to expand RiverRidge in Northern Ireland and beyond.”

RiverRidge has grown from humble beginnings in 2011 to a company in 2023 which is at the forefront of waste treatment technology. We have been true to the vision and values of the group over this period and believe that today’s announcement is an endorsement of the hard work from our team as well as the strategy chosen to revolutionise the sector. BGF and Jim have been with us every step of the way during the past six years, and I’d like to thank them for their guidance and support during a period of significant growth.

Brett Ross, CEO, RiverRidge

Saket Trivedi, Partner of Cube Infrastructure Managers, said: “The investment in RiverRidge Holdings represents a unique opportunity for Cube to acquire an essential infrastructure asset in a new geographic location, with the embedded opportunity to pivot towards the generation of renewable energy from waste. We are excited to be able to enter this journey with Equitix as our long-term partner, which will be instrumental in providing valuable expertise for the future growth of the company.”

Hugh Crossley, CEO of Equitix, added: “Equitix has known and had excellent collaboration with RiverRidge for near to 10 years. We have a huge respect for the management team and are very pleased to extend this relationship by acquiring a stake in the company. This also allows us to proudly increase our commitment and presence to Northern Ireland.”

“With the RiverRidge management team and our partners, Cube, we expect to invest in and effectively grow the business over the coming years. This important investment aligns with our strategic vision of working in partnership to help reduce the impact of waste on climate change, avoid unnecessary landfill disposal, and provide sustainable energy to the communities which our assets serve.”

Cube and Equitix have been advised by Eversheds Sutherland and PwC, while RiverRidge Holdings Limited and BGF have been advised by Carson McDowell, A&L Goodbody and KPMG.

BGF has invested in seven companies from Northern Ireland to date: Braidwater, RiverRidge, Audit Comply, Uform, Bob & Berts, Mzuri Group and Clarke Group.

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Aurora Capital Partners Provides Growth Capital to Impact Environmental Group, a Leading Provider of Products and Services to the Waste Management Industry

Aurora Capital

LOS ANGELES, April 25, 2023 /PRNewswire/ — Aurora Capital Partners (“Aurora”), a leading middle-market private equity firm, today announced that it has partnered with Impact Environmental Group (“IEG” or the “Company”), a best-in-class provider of products and services to the global waste and recycling industry.

Founded in 1999, IEG is a premier global environmental products and services business with operating locations strategically positioned across the US and Europe. IEG’s combination of product breadth, service levels, and geographic reach are unique across the environmental services sector, and its focus on repair and replacement parts helps reduce overall customer spend. IEG management, led by Brian Beth, and Aurora are excited to continue expanding the product and services portfolio through both organic initiatives and strategic add-on acquisitions.

“Aurora’s successful track record working with management teams within the environmental services industry makes them the ideal partner for IEG as we enter the next stage of growth,” said Brian Beth, CEO of IEG. “Their capital support will allow us to unlock further opportunities and capitalize on the tailwinds in the industry. We pride ourselves on playing an important role across the environmental services landscape and are excited to partner with Aurora to better deliver products, services, and sustainability solutions to the industry.”

“We continue to see attractive opportunities within the environmental services sector, driven by stable demand drivers as well as an increasing focus towards sustainability. IEG has established itself as a leading service platform in the space,” said Andrew Wilson, Partner at Aurora. “Brian and the IEG team share our commitment to quality products and exceptional customer service, delivering parts and solutions quickly and seamlessly across its large customer base. We look forward to supporting their continued growth.”

The transaction marks the ninth investment from Aurora Equity Partners VI, which was activated in September 2020, and another investment by Aurora within the environmental services space. Other representative environmental services investments include VLS Environmental Solutions, Sharps Compliance and Curtis Bay Medical Waste Services.

About Impact Environmental Group
Founded in 1999, Impact Environmental Group has grown into a global environmental products and services business, providing a comprehensive suite of new and replacement products for waste containers, collection and compaction equipment, and waste transportation equipment. IEG companies include Impact, Roll-Tech, Midland Chutes, Northern Extrusion, United Compaction Services, Deroche Canvas, Container Components (US), UK-based Egbert Taylor and Container Components (Europe). IEG is headquartered in Elgin, Illinois with facilities located across the US and Europe. For more information, visit www.iegna.com or on LinkedIn.

About Aurora Capital Partners
Aurora Capital Partners is a leading Los Angeles-based private equity firm with $5 billion in assets under management. Founded in 1991, the firm invests in middle-market companies with leading market positions, stable industry dynamics, attractive business model characteristics and actionable opportunities for growth in partnership with management. For more information about Aurora Capital Partners, visit: www.auroracap.com.

Media Contacts

Aurora Capital Partners
ASC Advisors
Taylor Ingraham / Harriet Hartman
203-992-1230
tingraham@ascadvisors.com / hhartman@ascadvisors.com

SOURCE Aurora Capital Partners

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BGF backs Environmental Essentials for future growth

BGF

BGF has committed a further £2.4 million to support Environmental Essentials’ buy-and-build growth strategy.

Environmental Essentials, one of the UK’s leading asbestos service providers, has secured follow-on investment from BGF to support the acquisition of Adams Environmental.

Adams Environmental, which specialises in the listed building and education sectors, servicing high-profile buildings such as the National History Museum and Imperial College London, is the company’s first acquisition.

Based in Stoke-on-Trent and operating from four offices throughout the UK, including Stoke-on-Trent, Glasgow, Crawley, and London, the business provides asbestos management, training and surveying to businesses, local authorities and public sector organisations. Clients include the Houses of Parliament, tier one construction companies, NHS Trusts, high street food retailers and pub operators. Richard Powner and James Riley co-founded the business in 2004.

We’re delighted to welcome Adams Environmental into the Environmental Essentials fold. This marks a significant step forward in our growth ambitions, on the back of a strong trading period throughout the Covid pandemic, and is another positive milestone on our investment journey with BGF, which has had a considerable impact on our business since 2015.

Richard Powner, Co-founder Environmental Essentials

“Asbestos management has been a core part of our business since we launched 18 years ago. However, we believe that there is significant potential to expand our offering, not just geographically but also by diversifying into complementary areas, including water hygiene and fire risk management. This will not only strengthen our proposition, but provide clients with a ‘one-stop-shop’ for key compliance services.”

It signals the start of an exciting growth phase for Environmental Essentials, as it looks to expand its geographical footprint and diversify its service offering. The additional equity funding has been committed to support future acquisitions. It takes BGF’s total investment in Environmental Essentials to £5.7 million.

Alex Sleeth, who joined the board of Directors back in early 2020 and has a wealth of experience in ‘buy and build’ within the sector, commented: “This is a really exciting time for the business, as we look to broaden our compliance service offering and complement our existing services in Asbestos and Health & Safety Training for our high-profile customers. With additional funding secured we are confident in our ability to deliver a comprehensive growth strategy for our clients, staff and shareholders.”

BGF investor, Jon Earl, added: “Since 2004, Richard and James have built up a strong reputation in asbestos management. The acquisition of Adams Environmental enables them to strengthen their position in important markets, such as listed buildings and education. Through an exciting buy and build strategy, the team will also be able to broaden their compliance offering to customers, with the additional funding strengthening their commitment to investing in proprietary technology, as well as training and development.”

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Aurora Capital Partners Completes Sale of VLS Environmental Solutions, a leading sustainability solutions and ESG-focused waste services company in North America, to I Squared Capital

Aurora Capital

LOS ANGELES, Aug. 18, 2022 /PRNewswire/ — Aurora Capital Partners (“Aurora”), a leading middle-market private equity firm, announced today the closing of its previously announced sale of VLS Environmental Solutions (“VLS” or the “Company”) to I Squared Capital (“I Squared”), a leading global infrastructure investment manager. VLS provides mission-critical, customized waste and specialty cleaning and repair services to a variety of highly regulated industries in North America. Financial terms of the transaction were not disclosed.

VLS operates two principal segments: non-hazardous industrial waste handling, treatment, and sustainable disposal, as well as rail and marine specialty cleaning and repair. As one of the only nationwide providers of ESG-friendly industrial waste solutions, the Company’s sustainable disposal solutions are especially attractive for customers with zero-waste-to-landfill initiatives. The Company offers a comprehensive set of waste management solutions that process industrial non-hazardous waste to create alternative engineered fuels for industrial processes, fuel for waste-to-energy generation, treated wastewater, and landfill solidification.

“It has been exciting to work alongside the VLS team and help transform the Company from a Southeast-focused provider to a leading ESG-focused environmental solutions platform with nationwide scale and a broad-based environmental services offering,” said Matthew Laycock, Partner at Aurora. “VLS has grown tremendously since our partnership in 2017, including the completion of nine acquisitions to support our buy and build strategy, and there is significant runway to continue this strong performance across its business lines. We wish the Company, its management and its new partners continued success.”

“The entire VLS organization, led by John Magee, has done an excellent job leading the business through this phase of growth, and we appreciate their efforts throughout our partnership. They locked arms with us on Aurora’s Strategy & Operations Program and expanded across all areas of their platform: geographic reach, customer service offerings, and internal talent,” said Andrew Wilson, Partner at Aurora. “Given its unique service offering and strong customer value proposition, VLS is well-positioned to continue its growth within the broader environmental services industry.”

“Aurora has been an incredible partner to the leadership team at VLS, providing guidance and expertise to support the Company in achieving our growth objectives,” said John Magee, President and CEO of VLS. “We are thrilled to partner with the I Squared team and believe they are the right next owner to help drive the continued expansion of our market-leading environmental services platform.”

Houlihan Lokey served as lead financial advisor, Robert W. Baird served as co-financial advisor, and Gibson, Dunn & Crutcher LLP served as legal advisor to Aurora Capital Partners. Jefferies LLC served as exclusive financial advisor and Kirkland & Ellis LLP served as legal advisor to I Squared Capital.

About Aurora Capital Partners
Aurora Capital Partners is a leading Los Angeles-based private equity firm with over $4.5 billion in assets under management. Founded in 1991, the firm focuses principally on control investments in middle-market companies with leading market positions, stable industry dynamics, attractive business model characteristics and actionable opportunities for growth in partnership with management. Aurora provides unique resources to its portfolio companies through its Strategy & Operations Program and its team of experienced operating advisors. Aurora’s investors include leading public and corporate pension funds, endowments and foundations active in private equity investing. For more information about Aurora Capital Partners, visit: www.auroracap.com.

About VLS Environmental Solutions
VLS’ Waste division provides customized waste processing solutions for non-hazardous industrial and commercial waste, including landfill diversion and sustainability programs, solidification of liquid waste, recycling, and wastewater treatment. The Company’s Railcar Cleaning division provides specialty cleaning services for difficult-to-clean products including chemicals, hardened materials and pressurized gases using the most environmentally friendly and safe processes in the industry. Also, the Company’s Marine division has state-of-the-art barge cleaning and repair facilities for a wide variety of petroleum and chemical solvents. Today, VLS has over 800 employees in 28 locations across the country. For more information about VLS, visit: www.vlses.com.

Contacts:

Aurora Capital Partners
ASC Advisors
Steve Bruce / Taylor Ingraham
+1 (203) 992-1230
sbruce@ascadvisors.com / tingraham@ascadvisors.com

SOURCE Aurora Capital Partners

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I Squared Capital to Acquire VLS Environmental Solutions, a Leading Sustainability Solutions and ESG-Friendly Waste Services Company in North America, From Aurora Capital Partners

Aurora Capital

MIAMI–(BUSINESS WIRE)–I Squared Capital, a leading global infrastructure investment manager, announced today that it has signed a definitive agreement, through its ISQ Global Infrastructure Fund III, to acquire VLS Environmental Solutions (“VLS”) from Aurora Capital Partners, a leading middle-market private equity firm. VLS provides mission-critical, customized waste and specialty cleaning and repair services to a variety of highly regulated industries in North America. Financial terms of the transaction were not disclosed.

VLS operates two principal segments: non-hazardous industrial waste handling, treatment, and sustainable disposal, as well as rail and marine specialty cleaning and repair. As one of the only nationwide providers of ESG-friendly industrial waste solutions, the company’s sustainable disposal solutions are especially attractive for customers with zero-waste-to-landfill initiatives. The company offers a comprehensive set of waste management solutions that process industrial non-hazardous waste to create alternative engineered fuels for industrial processes, fuel for waste-to-energy generation, treated wastewater, and landfill solidification.

The transaction is expected to close in the third quarter of 2022, subject to customary regulatory approvals.

Houlihan Lokey served as lead financial advisor, Robert W. Baird served as co-financial advisor, and Gibson, Dunn & Crutcher LLP served as legal advisor to Aurora Capital Partners. Jefferies LLC served as exclusive financial advisor and Kirkland & Ellis LLP served as legal advisor to I Squared Capital.

About I Squared Capital

I Squared Capital is an independent global infrastructure investment manager with over $36 billion in assets under management focusing on energy, environmental infrastructure, utilities, digital infrastructure, transport and social infrastructure in North America, Europe, Latin America and Asia. Headquartered in Miami, the firm has offices in Hong Kong, London, New Delhi, Singapore and Taipei.

About Aurora Capital Partners

Aurora Capital Partners is a leading Los Angeles-based private equity firm with over $4.5 billion in assets under management. Founded in 1991, the firm focuses principally on control investments in middle-market companies with leading market positions, stable industry dynamics, attractive business model characteristics and actionable opportunities for growth in partnership with management. Aurora provides unique resources to its portfolio companies through its Strategy & Operations Program and its team of experienced operating advisors. Aurora’s investors include leading public and corporate pension funds, endowments and foundations active in private equity investing. For more information about Aurora Capital Partners, visit: www.auroracap.com.

About VLS Environmental Solutions

VLS’ Waste division provides customized waste processing solutions for non-hazardous industrial and commercial waste, including landfill diversion and sustainability programs, solidification of liquid waste, recycling, and wastewater treatment. The company’s Railcar Cleaning division provides specialty cleaning services for difficult-to-clean products including chemicals, hardened materials and pressurized gases using the most environmentally friendly and safe processes in the industry. Also, the company’s Marine division has state-of-the-art barge cleaning and repair facilities for a wide variety of petroleum and chemical solvents. Today, VLS has over 800 employees in 28 locations across the country. For more information about VLS, visit: www.vlses.com.

Contacts
I Squared Capital

Investors
Andreas Moon, Partner and Head of Investor Relations
+1 (786) 693-5739 | andreas.moon@isquaredcapital.com

Media
Brunswick Group
Clare Pickett
+1 (347) 477-7475
ISQUARED@brunswickgroup.com

Aurora Capital Partners
ASC Advisors
Steve Bruce / Taylor Ingraham
+1 (203) 992-1230
sbruce@ascadvisors.com / tingraham@ascadvisors.com

I SQUARED CAPITAL
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Contacts
I Squared Capital

Investors
Andreas Moon, Partner and Head of Investor Relations
+1 (786) 693-5739 | andreas.moon@isquaredcapital.com

Media
Brunswick Group
Clare Pickett
+1 (347) 477-7475
ISQUARED@brunswickgroup.com

Aurora Capital Partners
ASC Advisors
Steve Bruce / Taylor Ingraham
+1 (203) 992-1230
sbruce@ascadvisors.com / tingraham@ascadvisors.com

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InfraVia Capital Partners (“InfraVia”) has signed an agreement with Waterland Private Equity (“Waterland”) to acquire a majority stake in Blue Phoenix Group

InfraVia

InfraVia Capital Partners (“InfraVia”) has signed an agreement with Waterland Private Equity (“Waterland”) to acquire a majority stake in Blue Phoenix Group (“BPG”), a leading player in waste recycling infrastructure. Daiwa International Capital Partners (“Daiwa ICP”) will roll-over its current stake alongside InfraVia. With the support of InfraVia as a new controlling shareholder and Daiwa ICP, Blue Phoenix will accelerate its growth with the ambition to further strengthen its role as global leader in incinerator bottom ash (“IBA”) processing.

Blue Phoenix Group ́s facilities provide integrated sustainable solutions to the energy-from-waste (“EfW”) sector for treatment and recycling of bottom ash that remains after waste incineration. The company is recognized as critical infrastructure in the waste value chain by diverting the EfWs’ waste products from landfill and recycling it into usable products. Waterland has been the main shareholder of the Company since 2015 and has developed BPG to become a global player with more than 25 ash recycling facilities worldwide. With the support of InfraVia as a new majority shareholder next to Daiwa ICP, the Company will be able to further focus on its international expansion strategy of servicing EfW companies with sustainable solutions for recycling Incinerator Bottom Ash.

Paul Knight, CEO of Blue Phoenix Group said: “I am very pleased to start a long-term partnership with InfraVia with whom we share the same vision for the business, and which will allow us to accelerate our growth outside our core countries, pursue improvement in our existing business as well as invest further in developing sustainable solutions for the waste management supply chain.”

Hans Scheepers, Managing Partner at Waterland said “We are proud to have supported the company over the last 7 years and to help form and further expand BPG. We have provided BPG with resources to successfully grow and develop the business. We are convinced that InfraVia and Daiwa will continue to support the development of the company and drive the waste supply chain towards more recycling.”

Bruno Candès, Partner at InfraVia Capital Partners said “We are very pleased to invest in Blue Phoenix Group alongside Daiwa ICP and are impressed by the company’s achievements under its previous ownership. Recycling and processing plants are critical infrastructure to move the waste supply chain towards a more circular model. We are attracted by the long-term trends of the business and the growing demand for sustainable and circular economy infrastructure in particular as our economies are accelerating their phase-out from landfilling. We look forward to working with the management to grow the business and expand what is already a great platform”.

The terms of the transaction are not disclosed and the closing of the transaction is subject to the receipt of customary regulatory approvals. Blue Phoenix Group and Waterland were advised by Macquarie Capital (financial adviser) and Allen & Overy (legal). InfraVia was advised by Natixis Partners and Emendo Capital (financial adviser) and Clifford Chance (legal).

PRESS CONTACTS

INFRAVIA
Vincent LEVITA Founder and CEO
vlevita@infraviacapital.com
+33 (0)1 40 68 17 38

TADDEO
Antoine Denry
antoine.denry@taddeo.fr
+33 (0) 6 18 07 83 27

WATERLAND
Rinaldo Rosendaal, Associate Principal
rosendaal@waterland.nu
+31 (0)6 31 79 95 33

BLUE PHOENIX
Amy Townsend
amy.townsend@bluephoenix-group.com
+31 (0)6 51 17 39 26

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