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AVON, CONNECTICUT – JULY 26, 2023 – Ironwood Capital is pleased to announce an exit from its investment in Pro Disposal USA LLC (“Pro Disposal”), which has merged with Coastal Waste & Recycling. Pro Disposal, founded by Alex Cano in 2007, is a vertically integrated waste management service provider that handles waste from initial collection, through its managed transfer station, to final disposal. Ironwood’s investment supported Pro Disposal’s acquisition of various waste assets including a collection and hauling, transfer station and landfill business specializing in commercial & demolition (“C&D”) waste. This merger is highly accretive due to overlapping footprints and a large C&D landfill that allows Pro Disposal to consolidate its transfer station operations and internalize most of its C&D waste.
“With over a dozen platform investments in the environmental services industry, Ironwood has gained extensive experience in the market and developed relationships with industry veterans that serve as trusted deal partners”, stated Ironwood Capital Partner Alex Levental. “We have enjoyed working with Alex Cano, who continues to lead Pro Disposal, Jeff Kendall of Laurel Mountain Partners, who invested with Alex in 2020, and the management team at Pro Disposal to help the company execute on its strategy of vertical integration and geographic expansion, which they achieved through both organic growth and acquisitions.”
About Ironwood Capital
Over 20 Years of Middle Market Investing
Ironwood Capital provides non-control growth capital to middle market companies across the U.S. The Firm has invested more than $1 billion in over 100 companies since 2001 and currently invests subordinated debt and minority equity in amounts ranging from $10 million to $30 million. Ironwood’s investments support business owners and financial sponsors in growth financings, full and partial recapitalizations, generational transitions, and buyouts. For more information, visit: ironwoodcap.com.
About Pro Disposal USA LLC
Pro Disposal is a vertically integrated waste management service provider permitted to handle waste from initial collection to final disposal. Since its founding in 2007 by Alex Cano, Pro Disposal has grown into one of the largest independently owned waste hauling company in the area. Pro Disposal serves the Lowcountry region of South Carolina, offering residential collection, commercial front-load, grapple, roll-off, and disposal services. For more information, please visit: prodisposalsc.com.
Media Contacts
Carolyn C. Galiette
Partner, President, CIO
(860) 409-2105
galiette@ironwoodcap.com
Kimberly A. Craig
VP, Operations & Compliance
(860) 409-2125
craig@ironwoodcap.com
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