Canadian mid-market private equity firm Clairvest Group has invested an undisclosed amount in Arrowhead Environmental Partners, a Uniontown, Alabama-based solid waste management company. The investment is Clairvest’s seventh in the waste management industry.
TORONTO, June 17, 2020 (GLOBE NEWSWIRE) — Clairvest Group Inc. (TSX: CVG) (“CVG”) today announced that it, together with Clairvest Equity Partners VI (“CEP VI”) (together “Clairvest”), made its seventh investment in the waste management industry with an equity investment in Arrowhead Environmental Partners (“Arrowhead”, or “the Company”).
Arrowhead is a growing non-hazardous solid waste management company that provides disposal services to key U.S. Northeast markets through its waste-by-rail infrastructure. The Company owns and leases unique and well-placed disposal infrastructure assets to provide waste-by-rail disposal solutions to solid waste management companies located in the northern New Jersey / New York City market and the eastern Massachusetts market. This investment builds on Clairvest’s 15-year successful investment track record in the environmental services industry and represents an exciting opportunity to support the growth strategy and vision of the Company’s founders and management with equity capital.
“We are thrilled with the opportunity to back Arrowhead’s operating partners: William Gay, James Francesco and Robert Berns. Each brings extensive experience and expertise in the solid waste management industry and specifically, waste-by-rail. This talented team have assembled an exceptional asset base, and possess the experience and vision to lead Arrowhead forward as it grows into an important player serving the solid waste management industry, particularly in the U.S. Northeast,” said Michael Castellarin, Managing Director at Clairvest and head of the Waste Management practice.
“Arrowhead has many exciting growth opportunities in front of it. Clairvest’s investment provides us with the financial flexibility to capitalize on our unique market position and take Arrowhead to new heights. Clairvest’s style and culture are a great fit for our team and they bring a wealth of relevant industry knowledge and experience helping entrepreneurs build great companies. They share our vision for the future and will be a valuable resource to our team,” said William Gay, CEO of Arrowhead.
Arrowhead is Clairvest’s 7th investment in the waste management sector, 59th platform investment and the third investment by CEP VI. The Clairvest / CEP VI co-investment pool is capitalized at US$850 million and focuses on equity investments in growth companies.
Clairvest’s mission is to partner with entrepreneurs to help them build strategically significant businesses. Founded in 1987 by a group of successful Canadian entrepreneurs, Clairvest is a top performing private equity management firm with over CAD $2.4 billion of capital under management. Clairvest invests its own capital, and that of third parties through the Clairvest Equity Partners limited partnerships, in owner-led businesses. Under the current management team, Clairvest has initiated investments in 54 different platform companies and generated top quartile performance over an extended period.