JERICHO, N.Y.--(BUSINESS WIRE)--Long Island Waste Services (“LIWS” or the “Company”) announced today that it has completed a recapitalization transaction with a significant equity investment from Terramont Infrastructure Partners, a North American middle market-focused infrastructure investment firm (“Terramont”). Founded in 2020, LIWS’ comprehensive services encompass efficient waste collection, state-of-the-art transfer stations, materials recovery facility and environmentally responsible disposal. LIWS specializes in materials processing and commodities recycling where various recyclables such as cardboard, paper, metals and construction materials are recovered for resale or alternatives applications.
LIWS has a strong and experienced management team, led by Anthony Avellino, President and CEO, who has been instrumental in the Company’s huge growth and expansion over the last three and a half years achieved through the acquisition of several waste management service companies as well as the expansion of the Company’s service capabilities. Anthony Avellino commented, “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 said, “Terramont has been following the waste management industry very closely for the past few years and we admire the tremendous success LIWS has had in such a short period of time. Anthony and the LIWS team have done an incredible job in transforming LIWS into a state-of-the-art waste management company with the ability to collect and utilize real-time route data in order to efficiently manage all aspects of the business including pricing, transportation and disposal, and personnel safety.” “Terramont is excited to be backing the LIWS team to help accelerate its future innovation and growth,” added Michael Lehman and Vikram Singh, Managing Partners at Terramont.
ESI served as advisor for LIWS. Comerica Bank, Tecum Capital Partners and Patriot Capital provided debt financing for the transaction. K&L Gates LLP served as legal counsel to Terramont, and Certilman Balin Adler & Hyman LLP served as legal counsel to LIWS.
About Long Island Waste Services
LIWS, a locally owned and operated waste management company located on Long Island, NY, provides solid waste solutions to commercial, residential, and industrial customers. LIWS values the significance of its local presence and takes pride in actively contributing to the communities where its employees work, live, and raise families. Its management considers it a privilege to foster a community-first waste and recycling model, striving collectively to create a better and more sustainable future. For more information, please visit www.liwasteservices.com.
About Terramont Infrastructure Partners
Terramont Infrastructure Partners is a North American, middle market infrastructure investment firm, investing in best-in-class businesses, alongside top-quality management teams. Terramont is focused on companies that are critical to the economy and which seek to make a positive, measurable sustainability impact. Investment sectors include renewable power, sustainable energy, transportation, digital, environmental and other infrastructure businesses. Terramont is based in New York and San Francisco. For more information, please visit www.terramontinfra.com.
