August 09, 2024 06:29 PM

JERICHO, N.Y. – Long Island Waste Services (“LIWS” or the “Company”) has successfully completed a recapitalisation transaction, marking a significant milestone with an equity investment from Terramont Infrastructure Partners (“Terramont”), a leading North American middle-market infrastructure investment firm. This strategic partnership aims to propel LIWS’s growth and enhance its comprehensive waste management capabilities.

Founded in 2020, LIWS provides a wide range of waste management services, including efficient waste collection, state-of-the-art transfer stations, a materials recovery facility, and environmentally responsible disposal solutions. LIWS also specialises in materials processing and commodities recycling, recovering valuable recyclables such as cardboard, paper, metals, and construction materials for resale or alternative applications.

Anthony Avellino, President and CEO of LIWS, has played a pivotal role in the company’s impressive growth over the past three and a half years. Through strategic acquisitions and service expansions, LIWS has solidified its reputation as a leader in the waste management industry. Reflecting on the achievement, Avellino stated, “We have invested significant capital into the LIWS platform, and the company is now well-positioned for continued growth. We are excited to be entering the next stage of our development with Terramont and Dickson Suit of Environmental Services Investors (“ESI”), who acted as our advisor throughout the transaction.”

Chris Pih, Partner at Terramont, shared his enthusiasm for the partnership: “Terramont has been closely following the waste management industry and admires the tremendous success LIWS has achieved in such a short period. Anthony and the LIWS team have transformed the company into a state-of-the-art waste management enterprise, leveraging real-time route data to efficiently manage pricing, transportation, disposal, and personnel safety.”

Michael Lehman and Vikram Singh, Managing Partners at Terramont, echoed these sentiments: “Terramont is thrilled to support the LIWS team as they accelerate future innovation and growth.”

Advisors and financing

ESI served as an advisor to LIWS during the transaction, with debt financing provided by Comerica Bank, Tecum Capital Partners, and Patriot Capital. Legal counsel was provided by K&L Gates LLP for Terramont and Certilman Balin Adler & Hyman LLP for LIWS.

About Long Island Waste Services

LIWS, a locally owned and operated waste management company based in Long Island, NY, offers solid waste solutions to commercial, residential, and industrial customers. Dedicated to sustainability and community-first values, LIWS actively contributes to the communities where its employees live, work, and raise families. By fostering a collective effort toward a better future, LIWS strives to maintain its role as a trusted partner in waste and recycling solutions. For more information, please visit www.liwasteservices.com.

About Terramont Infrastructure Partners

Terramont Infrastructure Partners is a North American middle-market infrastructure investment firm that partners with best-in-class businesses and top-quality management teams. Focused on sectors critical to the economy, including renewable power, sustainable energy, transportation, digital, environmental, and other infrastructure businesses, Terramont is committed to making a positive, measurable sustainability impact. With offices in New York and San Francisco, Terramont combines expertise with innovation to drive meaningful growth. For more information, please visit www.terramontinfra.com.