Brown Gibbons Lang & Co. (BGL), Cleveland, has announced the recapitalization of Interstate Waste Services (IWS) by Littlejohn & Co., a private investment firm based in Greenwich, Connecticut, and Ares, a global alternative investment manager.
BGL’s Environmental Infrastructure and Services investment banking team served as the lead financial advisor to IWS in the transaction, specific terms of which were not disclosed.
Headquartered in Teaneck, New Jersey, IWS is the largest privately held, vertically integrated provider of solid waste collection, transfer, recycling and disposal services in the Greater New York City and New Jersey markets, BGL says. IWS operates more than 650 collection vehicles serviced by a network of nearly 30 facilities, including transfer stations, material recovery facilities, transload facilities and a rail-served solid waste landfill. Over the past two decades, the company has expanded and modernized to meet the needs of commercial, industrial and residential waste generators throughout New York and New Jersey.
The partnership between Littlejohn and Ares will further accelerate IWS’ growth, providing access to greater financial and operational resources and capabilities that will enable it to pursue organic and inorganic growth initiatives while continuing to safely deliver essential environmental services to its customers, BGL says.
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