M&A Deal Summary

Leonard Green & Partners Acquires Stella Environmental Services

On April 22, 2021, private equity firm Leonard Green & Partners acquired environmental company Stella Environmental Services from Hidden Harbor Capital Partners

Acquisition Highlights
  • This is Leonard Green & Partners’ 1st transaction in the Environmental sector.
  • This is Leonard Green & Partners’ 83rd transaction in the United States.
  • This is Leonard Green & Partners’ 13th transaction in Texas.

M&A Deal Summary
Date 2021-04-22
Target Stella Environmental Services
Sector Environmental
Buyer(s) Leonard Green & Partners
Sellers(s) Hidden Harbor Capital Partners
Deal Type Secondary Buyout
Advisor(s) Piper Sandler & Co.
Raymond James - Investment Banking (Financial)
McDermott Will & Emery (Legal)

Target

Stella Environmental Services

Houston, Texas, United States
Stella Environmental Services is a provider of transfer station management and municipal waste logistics services. The Company provides facility management, hauling, and loading services to municipal solid waste and transportation customers across various states. Transfer stations are a vital part of the waste collection process by improving the efficiency of collection vehicles and reducing operating costs for Stella’s customers. Stella Environmental Services is based in Houston, Texas.

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Buyer(S) 1

Buyer

Leonard Green & Partners

Los Angeles, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 75.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Leonard Green & Partners is a mega-sized private equity firm that invests in established companies that are leaders in their respective markets. Leonard Green will consider investments in consumer and business services, consumer products, distribution, media, and retail. Typical transaction values for acquisitions are between $500 million and $2 billion, however, the firm is capable of closing transactions valued up to $5 billion. Types of transactions include public-to-private, recapitalizations of privately held businesses, growth capital, equity capital to facilitate acquisitions, turnarounds/restructurings, and acquisitions of divisions/assets from large corporations. Leonard Green & Partners was formed in 1989 and is based in Los Angeles, California.

DEAL STATS #
Overall 88 of 102
Sector (Environmental) 1 of 1
Type (Secondary Buyout) 38 of 47
State (Texas) 13 of 16
Country (United States) 83 of 94
Year (2021) 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-21 RestorixHealth

Metairie, Louisiana, United States

RestorixHealth is a provider of comprehensive wound care treatment centers that offer advanced wound care modalities as well as hyperbaric oxygen therapy (“HBOt”). RestorixHealth focuses on establishing in-hospital centers of excellence to treat the growing incidence of severe grade diabetic wounds of the lower extremities and wounds that are unresponsive to general wound care treatments. RestorixHealth was established in 1997 and is based in Metairie, Louisiana.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-01 Prospect Medical Holdings

Los Angeles, California, United States

Prospect Medical Holdings provides healthcare and physician services in Southern California, South Central Texas, Rhode Island, New Jersey, Connecticut, and Pennsylvania. Prospect’s hospitals are located in high-density population areas and maintain solid market positions in the areas they serve. Prospect Medical Holdings is based in Los Angeles, California.

Sell -

Seller(S) 1

SELLER

Hidden Harbor Capital Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2016
PE ASSETS 715M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Hidden Harbor Capital Partners is an operationally focused private equity firm focused on acquiring North American middle-market companies. The Firm seeks businesses with up to $500 million in revenue and up to $30 million of EBITDA. Sectors of interest include industrials, transportation/logistics, consumer products, automotive, environmental, chemicals, food/beverages, and business services. Hidden Harbor Capital Partners was established in 2016 and is based in Boca Raton, Florida.

DEAL STATS #
Overall 1 of 2
Sector (Environmental) 1 of 1
Type (Secondary Buyout) 1 of 2
State (Texas) 1 of 1
Country (United States) 1 of 2
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-08 SSE International

Export, Pennsylvania, United States

SSE International is a parent holding company that seeks to create value through owning and supporting operating companies focused on providing specialty services and equipment.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-01 Superhero Fire Protection

Lawrenceville, Georgia, United States

Superhero Fire Protection is a full service fire protection company providing the highest quality workmanship and products in fire alarms, fire sprinklers and inspections/service/monitoring. Superhero Fire Protection was founded in 2012 and is based in Lawrenceville, Georgia.

Buy -
Mergr

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Legal