Clairvest Group has made a USD28.5m investment in Winters Bros Waste Systems of CT, its fourth investment in the waste management industry.
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 USD7.6m.
Clairvest is partnering with Joe and Sean Winters who are the company's principal shareholders. This is Clairvest's second partnership with Joe and Sean Winters in the sector following an investment together on Long Island.
The investment is 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 honoured 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," says 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," says Joe Winters.
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 capitalised at USD467m and focuses on equity investments in growth companies.
