New York-based, middle-market private equity firm Aperion Management has acquired the municipal solid waste transfer station management and transportation business of Sprint Logistics. Terms of the deal were not released. Formed in 1992, Sprint Logistics is a provider of transfer station management and transportation services in the Houston, Texas market.
Aperion Management, LLC, a New York-based, middle-market private equity investment firm, teamed with management to acquire the municipal solid waste (“MSW”) transfer station management and transportation business of Sprint Logistics, LP. The Company will be rebranded Stella Environmental Services. Since its formation in 1992, the Company has become the leading provider of MSW transfer station management and transportation services in the Houston, Texas market.
MSW transfer stations are processing facilities at an intermediate location between residential and commercial collection sites, and landfills or other ultimate disposal sites, and are used to aggregate waste volume prior to loading into larger, more efficient vehicles for transport to the disposal site. Transfer stations are a vital part of the waste collection process by improving the efficiency of collection vehicles and reducing operating costs for their customers.
“The Company has developed a strong reputation with its customers for reliable and cost effective service”, said David Brady, Managing Director of Aperion Management. “The Company is well positioned for future growth opportunities, and we look forward to building this business. We are pleased to have the opportunity to work with Stella’s outstanding management team.”
The Stella Environmental Services management team, including Wilf Roth (President), Jim Goodyear (CFO) and Doug Travis (VP of Safety & Human Resources), are investors in the transaction and will continue to manage the Company in partnership with Aperion Management.
Wilf Roth, President of Stella Environmental Services said, “We are excited to partner with Aperion Management 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 customers as well as secure new customers.”
Comerica Bank and Triangle Capital provided financing for the transaction. Sprint Logistics was advised by Integrity Advisors, Inc., a Houston-based middle market investment banking firm.
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. We seek to partner with driven management teams to identify key business drivers and unlock opportunities for value creation and growth. Aperion Management brings together a unique combination of individual and institutional investors, creating a flexible and long-term capital base for our investments.
Operating independently since 2006, the three principals of Aperion Management and its affiliates have been the lead investor on seven transactions representing approximately $160 million in enterprise value and $250 million in revenue, including platform companies RoadSafe Traffic Systems, Inc., the second largest provider of traffic safety equipment and services, including temporary traffic control devices on a rental basis, and pavement marking and sign installation services, to the roadway construction industry in the United States; and Conner Steel Products Holdings Co., a leading manufacturer and provider of above-ground storage tanks, and material handling and storage equipment to the oil and gas industry. In addition, throughout their careers, the principals of Aperion Management have participated in the acquisitions of more than ninety middle-market companies with an aggregate value in excess of $9 billion.