Long Island Waste Services (LIWS) 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. 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.
“We have invested significant capital into the LIWS platform, and the company is now well positioned for continued growth,” said Anthony Avellino, LIWS president and CEO. “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.”
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.
