Clairvest Group has led a US$32 million minority equity investment in DTG Recycle Group, a Mill Creek, Washington-based construction, industrial and manufacturing waste hauling and recycling company. The deal is intended to back the company’s continued expansion in the Pacific Northwest. Clairvest, a Canadian mid-market private equity firm, said the investment is its sixth in the waste management sector.
Clairvest Completes Sixth Investment in Waste Management Sector Through Partnership With DTG Recycle
TORONTO, Jan. 20, 2020 (GLOBE NEWSWIRE) — Clairvest Group Inc. (TSX: CVG) (“CVG”) today announced that it, together with Clairvest Equity Partners V (“CEP V”) (together “Clairvest”), led a US$32 million minority growth equity financing in DTG Recycle (“DTG” or the “Company”) in partnership with existing shareholders. CVG’s portion of the investment in DTG is US$8.7 million.
DTG is a leading waste hauling and recycling company with operations concentrated in the greater Seattle-Tacoma area of Washington State. The Company focuses on the collection, recycling and beneficial re-use of material from commercial, construction and industrial customers. Clairvest is partnering with Dan Guimont, the Company’s Founder and President, and Tom Vaughn, CEO, to continue DTG’s impressive expansion. This investment builds on Clairvest’s 14-year investment track record in the environmental services industry.
“We are excited to back the talented management team at DTG. We have been impressed by the Company’s commanding market position and its ability to deliver innovative and sustainable waste solutions to customers. We look forward to supporting Dan, Tom and the team to advance DTG’s ambitious growth plan. We are confident DTG will become a leading integrated waste management and recycling company in the Pacific Northwest,” said Adrian Pasricha, Partner at Clairvest Group.
“Clairvest’s partnership-focused investment style is the right fit for me and my team. DTG is about to embark on our next bold chapter of growth, and we are excited to have the support of investors with deep experience in building great companies. Clairvest’s understanding of our business and the environmental services industry makes them a great addition to our team as we further enable our clients to meet their sustainability goals by expanding into new service lines, such as the commercialization of products from recycled materials,” said Dan Guimont, Founder of DTG.
DTG is Clairvest’s 55th platform investment and the 11th investment by CEP V. The Clairvest / CEP V co-investment pool is capitalized at $600 million and focuses on equity investments in growth companies.
Clairvest Group Inc. is a top performing private equity management firm that invests its own capital, and that of third parties through the Clairvest Equity Partners limited partnerships, in businesses that have the potential to generate superior returns. Clairvest’s mission is to partner with entrepreneurs to help them build strategically significant businesses.
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