Aperion buys LJP

Aperion Management LLC has acquired LJP Enterprises Inc, a municipal solid waste processing and transportation business in Minnesota. No financial terms were disclosed. Vermillion Capital advised LJP on the deal.


October 2018 – Aperion Management, LLC (“Aperion”), a New York-based, middle-market private equity investment firm, has acquired LJP Enterprises, Inc. (“LJP” or the “Company”) in partnership with the LJP management team (www.ljpent.com). LJP is a leading municipal solid waste (“MSW”) processing and transportation business. Larry Biederman founded LJP in 1993 with a mission to provide customers with exceptional waste, recycling, and disposal services that preserve the environment and promote sustainability. Since that time, the Company has become the leading regional full-service commercial and residential waste and recycling provider in Southwestern Minnesota.

LJP is a trusted partner to a diverse base of commercial and industrial clients, ranging from Fortune 100 companies to small businesses throughout the Midwestern United States. LJP owns and operates two MSW transfer stations that process source separated industrial (SSIW), MSW, and recyclables and plays an integral role in the waste to energy industry.

“The Company has a strong reputation with its customers for providing a reliable and cost-effective green alternative for waste disposal,” said David Brady, Managing Director of Aperion. “The Company is well positioned for future growth opportunities, and we look forward to continuing to build this business with LJP’s outstanding management team.”

The LJP management team, including Larry Biederman and Jesse Samuelson (President), are investors in the transaction and will continue to manage the Company. Steve Metz will serve as CEO.

Larry Biederman, the founder of LJP, said, “We are excited to partner with Aperion and look forward to growing our business together. The partnership will create additional opportunities for employees and it will expand our capabilities to service our current customers and secure new customers.”

LJP was advised by Vermillion Capital, a Minneapolis-based middle market investment banking firm. Comerica Bank provided senior debt financing, and Ocean Avenue Capital Partners, L.P. and Skydeck LLC invested with Aperion. Winston & Strawn LLP was legal counsel for the buyer group and Stinson Leonard Street was legal counsel for the seller group.

About Aperion Management
Aperion Management, formed in 2006, is a private equity firm that seeks to invest in small to mid-size businesses valued between $15 million and $150 million with solid fundamentals and attractive growth prospects. Aperion seeks to partner with driven management teams to identify key business drivers and unlock opportunities for value creation and growth. Aperion’s investment in LJP Enterprise, represent its third platform transaction in the environmental services industry. LJP will join Aperion platform companies RoadSafe Traffic Systems, Inc., the largest provider of pavement marking, and traffic safety equipment and services in the United States; Tri Con Works, LLC, a leading environmental services provider specializing in the construction and maintenance of landfill gas monitoring, collection and recovery systems, as well as leachate systems; BrandShare, an eCommerce media network in the United States providing exclusive access for marketers of consumer packaged goods and other blue chip advertisers to reach consumers in their homes through a variety of means and Ontario Drive & Gear Limited, the world’s leading manufacturer of amphibious utility/extreme terrain vehicles for commercial and recreational use under the Argo brand, as well as a leading provider of high quality gears, couplings and transmission components.