Long Island Waste Services Announces Recapitalization and Significant Equity Investment from Terramont Infrastructure Partners
2024年8月10日 - 7:29AM
ビジネスワイヤ(英語)
Long Island Waste Services (“LIWS” or the “Company”) announced
today that it has completed a recapitalization transaction with a
significant equity investment from Terramont Infrastructure
Partners, a North American middle market-focused infrastructure
investment firm (“Terramont”). Founded in 2020, LIWS’ comprehensive
services encompass efficient waste collection, state-of-the-art
transfer stations, materials recovery facility and environmentally
responsible disposal. LIWS specializes in materials processing and
commodities recycling where various recyclables such as cardboard,
paper, metals and construction materials are recovered for resale
or alternatives applications.
LIWS has a strong and experienced management team, led by
Anthony Avellino, President and CEO, who has been instrumental in
the Company’s huge growth and expansion over the last three and a
half years achieved through the acquisition of several waste
management service companies as well as the expansion of the
Company’s service capabilities. Anthony Avellino commented, “We
have invested significant capital into the LIWS platform, and the
Company is now well positioned for continued growth. We are excited
to be entering the next stage of our development with Terramont and
Dickson Suit of Environmental Services Investors (“ESI”) who acted
as our advisor throughout the transaction.”
Chris Pih, Partner at Terramont said, “Terramont has been
following the waste management industry very closely for the past
few years and we admire the tremendous success LIWS has had in such
a short period of time. Anthony and the LIWS team have done an
incredible job in transforming LIWS into a state-of-the-art waste
management company with the ability to collect and utilize
real-time route data in order to efficiently manage all aspects of
the business including pricing, transportation and disposal, and
personnel safety.” “Terramont is excited to be backing the LIWS
team to help accelerate its future innovation and growth,” added
Michael Lehman and Vikram Singh, Managing Partners at
Terramont.
ESI served as advisor for LIWS. Comerica Bank, Tecum Capital
Partners and Patriot Capital provided debt financing for the
transaction. K&L Gates LLP served as legal counsel to
Terramont, and Certilman Balin Adler & Hyman LLP served as
legal counsel to LIWS.
About Long Island Waste Services
LIWS, a locally owned and operated waste management company
located on Long Island, NY, provides solid waste solutions to
commercial, residential, and industrial customers. LIWS values the
significance of its local presence and takes pride in actively
contributing to the communities where its employees work, live, and
raise families. Its management considers it a privilege to foster a
community-first waste and recycling model, striving collectively to
create a better and more sustainable future. For more information,
please visit www.liwasteservices.com.
About Terramont Infrastructure Partners
Terramont Infrastructure Partners is a North American, middle
market infrastructure investment firm, investing in best-in-class
businesses, alongside top-quality management teams. Terramont is
focused on companies that are critical to the economy and which
seek to make a positive, measurable sustainability impact.
Investment sectors include renewable power, sustainable energy,
transportation, digital, environmental and other infrastructure
businesses. Terramont is based in New York and San Francisco. For
more information, please visit www.terramontinfra.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240809135920/en/
Yi Wang, yi.wang@terramontinfra.com