M&A Deal Summary

American Securities Acquires Liberty Tire Recycling

On November 5, 2008, private equity firm American Securities acquired environmental company Liberty Tire Recycling from Park Avenue Equity Partners for 260M USD

Acquisition Highlights
  • This is American Securities’ 1st transaction in the Environmental sector.
  • This is American Securities’ 10th largest (disclosed) transaction.
  • This is American Securities’ 28th transaction in the United States.
  • This is American Securities’ 4th transaction in Pennsylvania.
Investment Fate
  • Liberty Tire Recycling was sold to a financial buyer in 2017.
  • Liberty Tire Recycling was sold to a consortium of financial buyers in 2021.

M&A Deal Summary

Date 2008-11-05
Target Liberty Tire Recycling
Sector Environmental
Buyer(s) American Securities
Sellers(s) Park Avenue Equity Partners
Deal Type Secondary Buyout
Deal Value 260M USD

Target

Liberty Tire Recycling

Pittsburgh, Pennsylvania, United States
Liberty Tire Recycling is a premier provider of tire recycling services in North America. Liberty collects and recycles used tires for innovative, beneficial re-use. The recycled rubber produced by Liberty is used as crumb rubber and industrial feedstock for molded products; as tire-derived fuel for industrial kilns, mills, and power plants; and as rubber mulch for landscaping and playgrounds. The company maintains a network of processing plants and comprehensive, nationwide collection services. Liberty Tire Recycling was formed in 2002 and is based in Pittsburgh, Pennsylvania.

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Buyer(S) 1

Buyer

American Securities

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 26.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Securities is a large private equity firm that typically partners with management when pursuing company acquisitions. American Securities typically targets US-based companies and generally seeks to commit $300 to $700 million per transaction. Areas of interest include consumer products, restaurants, healthcare, industrial, aerospace, defense, agriculture, environmental, paper/packaging, energy, and specialty chemicals. The Firm was originally formed in 1947 as the family office for William Rosenwald, an heir to the Sears Roebuck & Company, and began accepting outside investors in 1994. American Securities is headquartered in New York City.


DEAL STATS #
Overall 29 of 80
Sector (Environmental) 1 of 1
Type (Secondary Buyout) 10 of 37
State (Pennsylvania) 4 of 4
Country (United States) 28 of 79
Year (2008) 3 of 3
Size (of disclosed) 10 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-03-12 Press Ganey

Wakefield, Massachusetts, United States

Press Ganey is a provider of healthcare performance solutions for hospitals, healthcare and home care providers. Press Ganey utilizes patient and employee surveys to collect vast amounts of proprietary data on behalf of clients to power its industry-leading benchmarking and analytics tools and advisory services. Press Ganey was founded in 1985 and is based in Wakefield, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-10-01 General Chemical Performance Products

Parsippany, New Jersey, United States

General Chemical Performance Products LLC is a manufacturer of a broad portfolio of inorganic chemical products, which operates three business units: Water Treatment Chemicals, Sulphuric Acid, and Specialty Chemicals.

Buy -

Seller(S) 1

SELLER

Park Avenue Equity Partners

New York, New York, United States

Category Private Equity Firm
Founded 1997
PE ASSETS 340M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Park Avenue Equity Partners is a private equity firm that seeks investments in North American middle-market companies operating in basic industries. Areas of interest include construction, solid waste, transportation, recycling, healthcare and financial services. Park Avenue looks to invest $50 million per transaction and has an investment horizon of five to seven years. Park Avenue Equity Partners was formed in 1999 and is based in New York City.


DEAL STATS #
Overall 4 of 7
Sector (Environmental) 1 of 1
Type (Secondary Buyout) 2 of 3
State (Pennsylvania) 1 of 3
Country (United States) 4 of 7
Year (2008) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-03 Thomas Concrete

Atlanta, Georgia, United States

Thomas Concrete is a ready-mixed concrete supplier to residential and commercial customers. Thomas operates a network of eleven permanent ready mix concrete plants, three mobile concrete plants, and a fleet of 109 front-loading mixer trucks. Thomas Concrete was established in 1985 and is based in Atlanta, Georgia.

Buy $177M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-06 DynaVox Systems

Pittsburgh, Pennsylvania, United States

DynaVox Systems LLC pioneers speech communication technology, giving an opportunity for a better life to the millions of adults and children around the world challenged by significant speech, language and learning disabilities caused by Amyotrophic Lateral Sclerosis (ALS, or Lou Gehrig's Disease), stroke, traumatic brain injury, cerebral palsy, Parkinson's Disease, autism and mental retardation.

Sell -