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Ares Management and Harvest Partners Funds to acquire Valet Waste

Funds managed by The Private Equity Group of Ares Management and Harvest Partners have acquired Valet Waste from investment funds affiliated with New Mountain Capital, LLC. Terms of the transaction have not been disclosed.

Based in Tampa, Valet Waste is a leading national provider of value-added amenity services to the multifamily housing industry. Valet Waste provides five nights-per-week doorstep waste and recycling collection for more than 400 management companies and owner groups servicing more than 665,000 units across 34 states. The company also offers complementary maintenance services to the multifamily housing industry including nightly maintenance, apartment cleaning, apartment turns and porter services through its Maintenance Plus offering, which launched in 2014.
 
“Valet Waste is a leader in its industry, with a longstanding track record of delivering high-quality service to its customers and providing a top-rated amenity to residents. We are excited to partner with the Valet Waste management team and look forward to supporting the company in its next phase of growth,” says Matt Cwiertnia (pictured), Partner in the Private Equity Group of Ares Management.
 
“We are delighted to join Ares and the senior management team as long-term investors in the company,” says Michael DeFlorio, Senior Managing Director of Harvest Partners. “Shawn and his team have built a truly unique business that provides exceptional value to customers and residents. We are excited to invest alongside this first class team to build upon Valet Waste’s leadership position in the market and expand services more broadly across the multifamily housing industry.”
 
“New Mountain Capital has played a vital role in growing Valet Waste during its ownership period – and we thank them for a very successful partnership,” says Shawn Handrahan, President and CEO of Valet Waste. “With the growth opportunities in front of us, this is an opportunity to take the next step and further our position as a market leader in amenity and maintenance services to the multifamily housing industry. We look forward to working with our new partners at Ares and Harvest as they share our vision for long-term growth.”
 
“It was a pleasure to work with the Valet Waste management team as they defined the market, built their business and achieved significant sustainable growth,” says Bert Notini, Managing Director of New Mountain Capital. “We wish Valet Waste continued success in its next stage of expansion.”
 
Proskauer Rose LLP acted as legal advisor to Ares Management and Harvest Partners. White & Case LLP acted as legal counsel to Harvest Partners. Robert W. Baird & Co. acted as a financial advisor and Fried, Frank, Harris, Shriver & Jacobson LLP acted as legal advisor to Valet Waste.
 
mal style='margin-bottom:0cm;margin-bottom:.0001pt;line-height: normal;mso-pagination:none;tab-stops:28.3pt 56.65pt 85.0pt 113.35pt 141.7pt 170.05pt 198.4pt 226.75pt 255.1pt 283.45pt 311.8pt 340.15pt; mso-layout-grid-align:none;text-autospace:none'>With Mascia and Misson, Cadwalader's Charlotte office now has more than 50 attorneys. Earlier this year, Anne Tompkins, former US Attorney for the Western District of North Carolina in Charlotte, joined the firm as a partner in the White Collar Defense and Investigations practice.
 
The addition of Mascia and Misson to Cadwalader's Capital Markets practice reunites them with former Mayer Brown partners Bruce Bloomingdale, Stephen Day and Jeremiah Wagner. Cadwalader is focused on further expansion of its Capital Markets practice globally and into additional areas of asset-backed securities and lending.

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