3i acquires waste management services company in Puerto Rico | News
International investment manager 3i has bought a waste management and disposal services company in Puerto Rico from Post Capital Partners for an undisclosed sum.
3i said it has bought the majority stake in EC Waste alongside the solid waste services company’s management team.
EC Waste provides multiple waste services to over 100,000 residential, commercial, and industrial customers throughout Puerto Rico. The company operates four US disposal sites, two transfer stations, runs the island’s largest solid waste collections network and hosts what will be Puerto Rico’s largest renewable natural gas collection project at its Humacao facility.
Rob Collins, managing partner, 3i North American infrastructure, said this is the third platform investment for 3i’s North American infrastructure business, following Smarte Carte and Regional Rail.
“EC Waste has a proven track record of providing top tier services to the communities it operates in across the island. We are delighted to support management in growing the company’s sustainable waste practices, including an expansion of its compliant disposal operations and renewable natural gas collection activities.”
Post Capital partnered with waste management executive Randy Jensen to acquire EC Waste from Waste Management in April 2014.
Michael Pfeffer, co-founder and managing director of Post Capital, said: “The exit is a great illustration of the power of Post Capital’s executive-first strategy – we worked with Randy upfront to identify EC Waste, to set the strategy and then supported him and the company through its growth.
“We are grateful to Randy and the rest of the EC Waste team for their hard work and dedication throughout our investment.”
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