Add-on Acquisition • Environmental

Strategic Materials Acquires Container Recycling Alliance

On July 15, 2008, Strategic Materials acquired environmental company Container Recycling Alliance from William Harris Investors and Geneva Glen Capital

Acquisition Context
  • This is Strategic Materials’ 1st transaction in the Environmental sector.
  • This is Strategic Materials’ 1st transaction in the United States.
  • This is Strategic Materials’ 1st transaction in Illinois.

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M&A Deal Summary

Date July 15, 2008
Target Container Recycling Alliance
Sector Environmental
Buyer(s) Strategic Materials
Sellers(s) William Harris Investors
Geneva Glen Capital
Deal Type Add-on Acquisition

Target Company

Container Recycling Alliance

Lombard, Illinois, United States
Container Recycling Alliance LLC is a glass recycler company. CRA utilizes state-of-the-art automated ceramic detection and color sorting equipment, as well as full bottle destruction and decasing capabilities.
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Buyer Overview 1

Buyer

Strategic Materials

Houston, Texas, United States

Category Company
Founded 1896
Sector Environmental
Revenue 255M USD (2012)
DESCRIPTION

Strategic Materials is a recycled glass processor and independent recycled plastics processor. Strategic Materials reprocesses post-industrial and post-consumer scrap material into recycled products used by manufacturers of bottles, fiberglass, highway beads, plastic bags, and plastic films. Strategic Materials is based in Houston, Texas.


Deal Context for Buyer #
Overall 1 of 2
Sector: Environmental 1 of 2
Type: Add-on Acquisition 1 of 2
State: Illinois 1 of 1
Country: United States 1 of 2
Year: 2008 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-27 Ripple Glass

Kansas, Missouri, United States

Ripple Glass operates a state-of-the-art glass processing facility. Ripple Glass is a passive collection and other creative collection solutions for post-consumer and post-industrial glass. Ripple Glass is a key partner to local communities, retailers, and other businesses throughout the Midwest to meet sustainability goals and give glass bottles a second life. Ripple Glass was founded in 2009 and is based in Kansas, Missouri.

Buy -

Seller Profiles 2

SELLER

William Harris Investors

Chicago, Illinois, United States

Category Family Office
Founded 1976
Size Small
Type Sector Agnostic
DESCRIPTION

William Harris Investors is a diversified investment and wealth management firm. In addition to providing clients with asset management services, the Firm also offers illiquid investment opportunities and will invest in direct private equity transactions. The Firm's direct private equity group looks to invest in North American mid-sized companies with long operating histories, loyal customers, strong managment, and defensible market positions. WHI generally looks to invest $5 to $15 million of equity in transactions valued up to $75 million. Target companies typically have revenues of at least $10 million and minimum EBITDA of $3 million. Sectors of interest include manufacturing, value-added distribution, and specialty services. WHI prefers control investments where management also participates. William Harris Investors is based in Chicago, Illinois.


Deal Context for Seller #
Overall 1 of 4
Sector: Environmental 1 of 2
Type: Add-on Acquisition 1 of 2
State: Illinois 1 of 2
Country: United States 1 of 4
Year: 2008 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-27 Clinical Resource Network

Vernon Hills, Illinois, United States

Symphony Clinical Research is a provider of specialized in-home and alternate-site clinical services to biotechnology, pharmaceutical, and other healthcare companies of specialized in-home and alternate-site clinical services utilized primarily to expedite clinical trial studies in most therapeutic areas and age groups. Symphony Clinical Research was founded in 2003 and is based in Vernon Hills, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-08-01 Emerald Waste Services

Freeport, Florida, United States

Emerald Waste Services LLC is a solid waste services provider.

Sell -
SELLER

Geneva Glen Capital

Chicago, Illinois, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 2008
Size Small
Type Sector Agnostic
DESCRIPTION

Geneva Glen Capital is a private equity firm that invests in lower middle-market companies. The Firm partners with management when pursuing private companies with leading market positions, significant growth potential, and stable cash flows. Target businesses are located in the US or Canada and have $2 to $20 million of EBITDA. Sectors of interest include business/consumer services, consumer products, environmental services, education, healthcare, niche manufacturing, publishing, chemicals, insurance, and value-added distribution. Geneva Glen will not invest in high technology, retail, restaurants, real estate, or early-stage companies. Geneva Glen Capital was formed in 2008 and is based in Chicago, Illinois.


Deal Context for Seller #
Overall 2 of 11
Sector: Environmental 1 of 2
Type: Add-on Acquisition 2 of 8
State: Illinois 1 of 2
Country: United States 2 of 11
Year: 2008 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-01 Omniflight

Addison, Texas, United States

Omniflight, Inc. is a provider of air medical emergency transport services. Air medical services involve transporting patients requiring intensive medical care from either general care hospitals or the scene of an accident to highly skilled trauma centers or tertiary care centers.

Buy $70M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-08-01 Emerald Waste Services

Freeport, Florida, United States

Emerald Waste Services LLC is a solid waste services provider.

Sell -