M&A Deal Summary

Macquarie Infrastructure and Real Assets Acquires Coastal Waste & Recycling

On June 20, 2023, infrastructure investor Macquarie Infrastructure and Real Assets acquired environmental company Coastal Waste & Recycling from Summer Street Capital Partners and Concentric Equity Partners

Acquisition Highlights
  • This is Macquarie Infrastructure and Real Assets’ 4th transaction in the Environmental sector.
  • This is Macquarie Infrastructure and Real Assets’ 9th transaction in the United States.
  • This is Macquarie Infrastructure and Real Assets’ 1st transaction in Florida.

M&A Deal Summary

Date 2023-06-20
Target Coastal Waste & Recycling
Sector Environmental
Buyer(s) Macquarie Infrastructure and Real Assets
Sellers(s) Summer Street Capital Partners
Concentric Equity Partners
Deal Type Recapitalization
Advisor(s) Houlihan Lokey (Financial)
Winston & Strawn (Legal)

Target

Coastal Waste & Recycling

Boca Raton, Florida, United States
Coastal Waste & Recycling is a provider of solid waste collection, processing, and disposal services. Coastal Waste & Recycling was founded in 2017 and is based in Boca Raton, Florida.

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Buyer(S) 1

DESCRIPTION

Macquarie Infrastructure and Real Assets (MIRA) is a global investor in infrastructure, real estate, agriculture, and energy assets. MIRA's infrastructure practice looks to acquire businesses such as transportation, water and energy utilities, and waste management. MIRA's real estate practice looks to acquire and develop retail, commercial, residential and industrial properties. MIRA's agriculture team looks to operate and develop agriculture businesses and farmland. MIRA's energy team seeks opportunities in upstream energy and upstream energy-related assets and businesses in the US and Canada. Macquarie Infrastructure and Real Assets is headquartered in London with additional offices throughout the world.


DEAL STATS #
Overall 20 of 20
Sector (Environmental) 4 of 4
Type (Recapitalization) 1 of 1
State (Florida) 1 of 1
Country (United States) 9 of 9
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-03 SK Shieldus

Pangyo, South Korea

SK Shieldus is a scaled integrated physical security operator providing digital security infrastructure across 680,000 commercial customer sites and more than 100 central monitoring and dispatch centers across South Korea. SK Shieldus is based in Pangyo, South Korea.

Sell -

Seller(S) 2

SELLER

Summer Street Capital Partners

Orchard Park, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 480M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Summer Street Capital is a private equity firm that targets investments in lower middle-market companies located in the Eastern and Midwest areas of the US as well as Southeastern Canada. Summer Street seeks to invest in platform companies generating revenues of at least $10 million. Broad ares of interest include environmental, niche manufacturing, and business services, Prospective transaction situations include growth capital financings, management buyouts, corporate divestitures, generational transitions, and recapitalizations. Summer Street Capital was formed in 1999 and based in Orchard Park, New York.


DEAL STATS #
Overall 15 of 17
Sector (Environmental) 4 of 5
Type (Recapitalization) 2 of 2
State (Florida) 1 of 1
Country (United States) 14 of 16
Year (2023) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-29 Frontier Waste Solutions

Dallas, Texas, United States

Frontier Waste Solutions is a provider of municipal solid waste services to the municipal, residential, commercial, and industrial markets. Frontier Waste Solutions was founded in 2017 and is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-28 Ira Green

Providence, Rhode Island, United States

Ira Green is a full-service manufacturer and distributor of nearly 40,000 unique items for the military. Ira Green was established in 1943 and is based in Providence, Rhode Island.

Sell $53M
SELLER

Concentric Equity Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2002
Size Small
Type Sector Agnostic
DESCRIPTION

Concentric Equity Partners is a private equity firm that invests in profitable, growth-oriented middle-market companies. Concentric typically invests $10 to $30 million of capital per transaction, however, the Firm's historical investment range is $5 to $100 million. Areas of interest include business services, consumer services, financial services, and healthcare. Prospective transaction situations include management led buyouts, leveraged buyouts, and growth equity investments. Concentric will consider both majority and minority situations. Concentric is the direct investment arm of asset management firm, Financial Investments Corporation. Concentric Equity Partners was established in 2002 and is based in Chicago, Illinois.


DEAL STATS #
Overall 18 of 18
Sector (Environmental) 2 of 2
Type (Recapitalization) 1 of 1
State (Florida) 3 of 3
Country (United States) 18 of 18
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-29 Frontier Waste Solutions

Dallas, Texas, United States

Frontier Waste Solutions is a provider of municipal solid waste services to the municipal, residential, commercial, and industrial markets. Frontier Waste Solutions was founded in 2017 and is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-29 Boat House

Elkhorn, Wisconsin, United States

Boat House is a multi-store boat dealer & marine services provider that has been serving its local boating communities across the Midwest and Florida for over 30 years. Boat House includes 7 Midwest locations and 3 Florida locations offering: New & Used Boat Sales, On Site and Mobile Service, Storage, Parts, Pro Shop, Pier and Lift Services, Boat Clubs, In-House Financing, Consignments, On Water Demonstrations, Boating Education Courses, Community Boating Events, and more. Boat House is based in Elkhorn, US.

Buy -