Oaktree Capital Management has invested in the growth of Environmental 360 Solutions, a Toronto-based provider of environmental and waste management solutions. No financial terms were disclosed. Oaktree Managing Director Jared Parker will join the board. E360S is also backed by Almada Group, Canadian Business Growth Fund and OP Trust.
TORONTO, Aug. 27, 2021 /CNW/ – Environmental 360 Solutions Inc. (“E360S”, or the “Company”) is pleased to announce it has received a significant strategic investment from funds managed by Oaktree Capital Management, L.P. (“Oaktree”). Oaktree’s investment will support the continued growth of the Company.
“We are thrilled to partner with Founder and CEO, Donato (Danny) Ardellini, his exceptional leadership team and existing investors. We look forward to supporting E360S’ growth and continued success”, said Jared Parker, Managing Director at Oaktree. Mr. Parker will join the E360S board.
E360S’ Founder and CEO, Danny Ardellini, added, “We look forward to this strategic partnership between E360S and Oaktree. The Oaktree team brings a tremendous amount of experience and resources that will enable us to continue to execute on our robust pipeline of acquisitions and organic growth initiatives across North America. Since inception, E360S has grown through 21 acquisitions and several greenfield developments thanks to the hard work and dedication of the entire E360S team.”
UBS Investment Bank served as financial advisor to Oaktree in connection with the transaction and Goodmans LLP served as legal advisor, and Miller Thomson LLP served as legal advisor to E360S.
Financial terms of the transaction were not disclosed.
Founded in November 2018 by industry veteran Donato (Danny) Ardellini with the support of Almada Inc., a Toronto-based private equity and venture capital investor, and strategic investments by Canadian Business Growth Fund (“CBGF”), and OPSEU Pension Plan Trust Fund (“OPTrust”). E360S has completed 21 acquisitions since inception. The Company provides environmental and waste management solutions to municipalities as well as to industrial, commercial and institutional customers. E360S is based in Aurora, Ontario, Canada, and operates in various regions of Alberta, Ontario, Quebec, and British Columbia. E360S is dedicated to becoming North America’s leading and most trusted environmental management company.
Oaktree is a leader among global investment managers specializing in alternative investments with US$156 billion in assets under management as of June 30, 2021. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. In 2019, Toronto based Brookfield Asset Management acquired a majority interest in Oaktree. Together, Brookfield and Oaktree provide investors with one of the most comprehensive offerings of alternative investment products available today. For additional information, please visit Oaktree’s website at http://oaktreecapital.com