Alston Capital Partners led the recapitalization of Battery Solutions Inc., a Howell, Mich.-based provider of battery recycling technology. Alston partnered with the company’s founder to recapitalize the company. The money will be used for growth. Specific details of the recap were not disclosed.
Alston Capital Partners, LLC (“Alston”) is pleased to announce that it has led the recapitalization of Battery Solutions, Inc. (“Battery Solutions”) a Howell, Michigan based leading provider of battery recycling solutions. Alston partnered with the Company’s founder, Chris Sova, to recapitalize the Company and provide capital for growth.
Battery Solutions offers customized battery recycling solutions which include program design, collection systems, logistics, disassembly, chemistry identification, sorting, separation, processing, regulatory compliance, and documentation. The Company operates in all 50 states and has developed flexible battery recycling solutions to handle all battery chemistries in an environmentally and regulatory compliant manner for all types of customers including corporations, government entities, municipalities, retailers, waste service providers and consumers.
In conjunction with the recapitalization, Michael Profit joined the senior management team of Battery Solutions as Chief Executive Officer. Prior to joining Battery Solutions, Mr. Profit was the Chief Executive Officer of Intechra Group, a leading front end provider of end of life information technology asset management and electronics recycling services which was sold to Arrow Electronics. Mr. Profit stated “Battery Solutions is a high growth company that is an industry leader in all forms of battery collection and recycling. I look forward to working with the management team and the principals of Alston to continue to build the business and enhance its market position.”
Robert Egan, Founding Partner of Alston commented, “Battery Solutions offered the opportunity to back a proven management team and invest in a market leader positioned for significant growth. The Company fits Alston’s investment model which is focused on companies in the environmental sector whose products and services address long term macro trends, including; increasing population, depletion of natural resources, and increasing accumulation of waste.
About Battery Solutions:
Battery Solutions offers customized recycling solutions for all battery chemistries to consumers, corporations, government entities, and municipalities located throughout the United States. The Company has developed solutions to address the diverse needs of its customers which include environmental and regulatory compliance, documentation, safety, logistics, reporting, and the conversion of waste into its highest economic value. To learn more about the Company’s products, programs, and services please visit the Company’s website at www.batteryrecycling.com
About Alston Capital Partners:
Alston Capital Partners is a private equity firm focused on the environmental and specialty manufacturing sectors in the lower middle market. The team is composed of experienced investors and operators who have worked together for many years, principally at JPMorgan Partners. The firm’s principals have invested in over 65 businesses and have a demonstrated track record of working with owners and managers to take companies with unrealized potential to new levels of performance and value. For more information on Alston Capital Partners please visit our website at www.alstoncapital.com or contact Robert Egan or Rodney Eshelman III.