Investment Summary

Ridgemont Equity Partners and PNC Erieview Capital Invest In Northstar Recycling

On October 5, 2021, private equity firm Ridgemont Equity Partners and mezzanine finance firm PNC Erieview Capital invested in environmental company Northstar Recycling

Investment Highlights
  • This is Ridgemont Equity Partners’ 2nd and PNC Erieview Capital’s 2nd transaction in the Environmental sector.
  • This is Ridgemont Equity Partners’ 110th and PNC Erieview Capital’s 28th transaction in the United States.
  • This is Ridgemont Equity Partners’ 3rd and PNC Erieview Capital’s 1st transaction in Massachusetts.

Investment Summary
Date 2021-10-05
Target Northstar Recycling
Sector Environmental
Investor(s) Ridgemont Equity Partners
PNC Erieview Capital
Deal Type Growth Capital
Advisor(s) Cowen Group, Inc. (Financial)
Finn Dixon & Herling
Moore & Van Allen (Legal)

Target

Northstar Recycling

East Longmeadow, Massachusetts, United States
Northstar Recycling is an asset-light provider of sustainability-oriented managed waste and recycling solutions to food, consumer packaged goods, and other industrial clients. Northstar Recycling helps its customers recycle more and landfill less by diverting organic and other waste streams from landfills into a variety of beneficial reuse applications with the support of its robust network of recycling outlet partners. Northstar Recycling was founded in 1896 and is based in East Longmeadow, Massachusetts.

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Investor(S) 2

Investor

Ridgemont Equity Partners

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1993
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ridgemont Equity Partners is an independent private equity firm specializing in middle-market buy-outs, corporate divestitures, recapitalizations and growth capital investments. The Firm targets to invest in companies located in North America, preferably in US and Canada. REP looks to invest up to $500 million in companies with EBIDTA of $5 - $50 million. The Firm seeks to hold both majority and minority equity interest in portfolio companies. Specific areas of interest include basin industries and services, energy, healthcare, telecommunications, media and technology. Ridgemont Equity Partners is a spun-off of Banc of America Capital Investors (BACI). Ridgemont Equity Partners was formed in August 2010 and is based in Charlotte, North Carolina.

DEAL STATS #
Overall 124 of 133
Sector (Environmental) 2 of 2
Type (Growth Capital) 13 of 14
State (Massachusetts) 3 of 4
Country (United States) 110 of 118
Year (2021) 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-07 Allied 100

Bannockburn, Illinois, United States

Allied 100 is a distributor and retailer of automated external defibrillators (AEDs), AED supplies and accessories, and advanced life support monitors. The company offers a comprehensive product selection via its dynamic websites and provides expert customer support to medical professionals and other users of these life-saving devices throughout North America. Allied 100 was established in 2002 and is based in Madison, Wisconsin.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-19 Agape Care Group

Spartanburg, South Carolina, United States

Agape Care Group is a hospice, palliative, and pediatric comfort care provider expanding across the Southeast region. Agape Care Group was founded in 1997 and is based in Spartanburg, South Carolina.

Buy -
Investor

PNC Erieview Capital

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1979
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

PNC Erieview Capital is a provider equity and junior capital to middle-market companies throughout the US and Canada. The Firm looks to support private equity sponsor-led buyouts and recapitalizations, non-sponsored buyouts, family office buyouts, and growth equity needs. PNC Erieview typically works with profitable companies (EBITDA greater than $5 million) valued from $20 to $250 million. Areas of interest include distribution, consumer products, healthcare, manufacturing, and services. The Firm was originally known as National City Equity Partners and was established in 1979. PNC Erieview Capital is based in Cleveland, Ohio.

DEAL STATS #
Overall 28 of 39
Sector (Environmental) 2 of 2
Type (Growth Capital) 10 of 13
State (Massachusetts) 1 of 2
Country (United States) 28 of 39
Year (2021) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-23 Covercraft

Pauls Valley, Oklahoma, United States

Covercraft is a manufacturer of custom-patterned vehicle covers, with a library that includes more than 80,000 distinct automotive patterns. Additional product lines include custom front and rear seat protectors, front-end masks, dashboard covers, floor mats, window heat shields, and pet protection products, among others. Covercraft was founded in 1965 and is based in Pauls Valley, Oklahoma.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-20 EnableComp

Franklin, Tennessee, United States

EnableComp is a provider of workers' compensation, Veteran Affairs, and other complex claims processing solutions, facilitated by its proprietary software, Enforcer360. EnableComp was founded in 2000 and is based in Franklin, Tennessee.

Sell -
Mergr

Product

Company

Legal