M&A Deal Summary

ECP Acquires Liberty Tire Recycling

On April 1, 2021, private equity firm ECP acquired environmental company Liberty Tire Recycling from The Carlyle Group

Acquisition Highlights
  • This is ECP’s 3rd transaction in the Environmental sector.
  • This is ECP’s 41st transaction in the United States.
  • This is ECP’s 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2021-04-01
Target Liberty Tire Recycling
Sector Environmental
Buyer(s) ECP
Sellers(s) The Carlyle Group
Deal Type Secondary Buyout
Advisor(s) Houlihan Lokey
BMO Capital Markets (Financial)
Latham & Watkins (Legal)

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

ECP

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 27.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

ECP is a specialist private equity firm focused on investments in energy infrastructure. Specific areas of interest include power generation, including renewable energy facilities; electric transmission; midstream gas, including gas storage and pipelines; and other energy service businesses and infrastructure assets. The Firm primarily targets opportunities located in North America. ECP was formed in 2005 and is based in Summit, New Jersey.

DEAL STATS #
Overall 42 of 50
Sector (Environmental) 3 of 4
Type (Secondary Buyout) 4 of 7
State (Pennsylvania) 1 of 1
Country (United States) 41 of 47
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-27 Terra-Gen

New York, New York, United States

Terra-Gen is a renewable energy company focused on geothermal, wind and solar generation. Terra-Gen owns 744 MW (net equity) in 18 operating renewable energy projects across the Western United States. Terra-Gen was founded in 2007 and is based in New York City.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-02 Pivot Energy

Denver, Colorado, United States

Pivot Energy is a national solar provider that develops, finances, builds owns, and manages solar and storage energy projects. Pivot offers a distributed energy platform that includes a range of services and software aimed at serving the full solar ecosystem. Pivot operates on a triple bottom line basis, measuring success by the positive impact on people, the planet, and profit. Pivot Energy was founded in 2009 and is based in Denver, Colorado.

Buy -

Seller(S) 1

SELLER

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.

DEAL STATS #
Overall 418 of 480
Sector (Environmental) 5 of 6
Type (Secondary Buyout) 93 of 117
State (Pennsylvania) 9 of 9
Country (United States) 229 of 259
Year (2021) 9 of 29
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-01 Metropolitan Real Estate

New York, New York, United States

Metropolitan Real Estate is a privately owned, registered investment advisor with more than $2.6 billion in capital commitments across 22 partnerships (16 funds of funds and six feeder funds), representing a wide range of clients, including institutional investors, endowments and foundations and high net worth investors. Metropolitan constructs and manages vintage year U.S., non-U.S., global and custom portfolios, with a focus on private, indirect investments in value-add and opportunistic real estate.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-26 Unchained Labs

Pleasanton, California, United States

Unchained Labs is a life science tools company focused on solving problems for biologics and gene therapy researchers. Unchained systems are used by biopharma researchers around the world to analyze and characterize large, complex molecules and to make their research jobs easier. Unchained Labs was founded in 2015 and is based in Pleasanton, California.

Buy $435M
Mergr

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Legal