Clairvest Group exits stake in DTC Recycle through recap deal

DTC Recycle is a Bothell, Washington-based provider of integrated recycling services for commercial, industrial and construction clients.

  • The buyer is Macquarie Asset Management
  • In 2020, Clairvest led a $32 million minority investment in DTG
  • With the deal’s closing, the firm’s sale proceeds were about $53.2 million

Canadian private equity firm Clairvest Group has sold its interest in DTC Recycle, a Bothell, Washington-based provider of integrated recycling services for commercial, industrial and construction clients, in a recapitalization deal. The buyer is Macquarie Asset Management.

Clairvest in 2020 led a $32 million minority investment in DTG. With the deal’s closing, the firm’s sale proceeds were about $53.2 million.

Since its establishment in 1999, DTG has grown from a single truck to a regional leader with an impressive network of collection assets, 12 materials recovery facilities across the Puget Sound region and one construction & demolition landfill.

“We are extremely proud of the results generated by our management partners – Dan Guimont and Tom Vaughn – and the entire DTG team,” said Michael Castellarin, a managing director at Clairvest, in a statement. “Our partners not only demonstrated sustainability leadership in the Pacific Northwest, but fostered a culture of safety first, operational excellence, growth and innovation. One of DTG’s noteworthy differentiators in a period of a very tight labor market was their commitment to DTG’s employees. We are honored to have been partners in DTG’s success since 2020 and we are excited for DTG to continue its growth in the evolving environmental services landscape in the Pacific Northwest.”

Stoel Rives acted as legal advisor to DTG.