Canadian mid-market private equity firm Clairvest Group has made a US$28.5 million investment in Winters Bros. Waste Systems of CT LLC, a Danbury, Conn.-based solid waste collection, recycling and disposal company. The deal is being done in partnership with the company’s principal shareholders, Joe and Sean Winters, who previously partnered with Clairvest at the time of its 2006 investment in the same business operating in Long Island, New York. The investment is Clairvest’s fourth in the solid waste management industry, which is one of its core domain areas. The firm’s co-CEO Jeff Parr was interviewed by peHUB Canada in June.
Clairvest Announces Its Fourth Investment in the Waste Management Industry
TORONTO, ONTARIO–(Marketwired – Nov. 26, 2013) – Clairvest Group Inc. (TSX:CVG) (“Clairvest”) today announced that it, together with limited partnerships controlled by it, made a US$28.5 million investment in Winters Bros. Waste Systems of CT, LLC (“Winters Bros. of CT” or the “Company”).
Winters Bros. of CT is a privately-owned, regional solid waste collection, recycling and disposal company based in Danbury, Connecticut. The company provides residential, commercial and industrial waste and recycling collection services in western and south-western Connecticut as well as in Westchester County and Putnam County in New York. Winters Bros. of CT also operates several transfer stations and a single stream recycling facility. Clairvest’s portion of the investment is US$7.6 million.
Clairvest is partnering with Joe and Sean Winters who are the Company’s principal shareholders. Joe and Sean continue to build on the Winters family’s strong reputation in the solid waste management industry which began on Long Island, New York in the 1950s. This is Clairvest’s second partnership with Joe and Sean Winters in the sector following a successful investment together on Long Island. The investment in Winters Bros. of CT represents Clairvest’s fourth investment in the solid waste management industry, a core domain for Clairvest since 2005.
“We are excited to partner with Joe and Sean Winters again and to back an exceptionally strong and invested management team. Our partners have demonstrated success in building first class waste management businesses, and we are honored that they selected Clairvest once again to support them in executing the growth opportunity they have created for Winters Bros. of CT in the Connecticut market,” said Michael Castellarin, Managing Director of Clairvest.
“We are very pleased to partner and work again with Clairvest. We know and understand each other and Clairvest knows the solid waste sector, our business and supports our vision for growth, all qualities that are very important to Sean and I in selecting the right partner for our business,” said Joe Winters, CEO of Winters Bros. of CT.
Winters Bros. of CT represents Clairvest’s 43rd platform investment and the 10th investment by CEP IV. The Clairvest / CEP IV co-investment pool is capitalized at $467 million and focuses on equity investments in growth companies.
Clairvest Group Inc. is a 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. In addition to providing financing, Clairvest contributes strategic expertise and execution ability to support the growth and development of its investee partners. Clairvest realizes value through investment returns and the eventual disposition of its investments.
Clairvest Group Inc.
Director, Investor Relations and Marketing
Fax: (416) 925-5753
Photo courtesy of Shutterstock.