TACOMA, Wash.–(BUSINESS WIRE)–Delos Capital (“Delos”) in partnership with the Silverfern Group (“Silverfern”) announced that they have completed the sale of Pioneer Recycling Services, LLC (“Pioneer” or the “Company”) to a subsidiary of Waste Connections, Inc. (TSX/NYSE: WCN) (“Waste Connections”).
Pioneer, based in Tacoma, WA, is an industry leader in co-mingled residential recycling in the Pacific Northwest. Pioneer’s recycling centers focus on providing reliable environmental services and solutions for commercial, industrial, municipal, and residential customers.
Jordan Mondshine, Principal at Delos, said, “We are incredibly proud of our partnership with Tommy, Greg, and the entire Pioneer team. Tommy and the Pioneer team fostered a culture of operational excellence. Over the course of our investment, we executed our value creation strategy by investing in state-of-the-art equipment and creating best-in-class material recovery facilities. We wish Pioneer continued success as it embarks on its next chapter with Waste Connections.”
“Delos has been a remarkable partner and supportive of Pioneer in fulfilling its mission statement of ‘Helping People Succeed in a Better Environment.’ My team and I feel fortunate to have had the opportunity to build a leading recycling platform alongside great partners.” said Tommy Crenshaw, CEO of Pioneer. “Teaming up with Waste Connections is a natural next step for the Company.”
Stifel served as exclusive financial advisor and Cole Schotz served as legal advisor to Pioneer.
About Delos Capital
Delos Capital, founded in 2013, is a lower middle market private equity firm specializing in management buyouts, recapitalizations, and growth investments. Additional information is available at www.deloscap.com
About The Silverfern Group
Silverfern is a global middle-market investment management firm. Additional information is available at www.silfern.com
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