M&A Deal Summary

Concentric Equity Partners, Summer Street Capital Partners and Duchossois Capital Management Acquire Frontier Waste Solutions

On November 29, 2022, private equity firm Concentric Equity Partners, private equity firm Summer Street Capital Partners and family office Duchossois Capital Management acquired environmental company Frontier Waste Solutions from Blue Sage Capital and Trailcreek Capital Group

Acquisition Highlights
  • This is Concentric Equity Partners’ 3rd, Summer Street Capital Partners’ 5th and Duchossois Capital Management’s 1st transaction in the Environmental sector.
  • This is Concentric Equity Partners’ 38th, Summer Street Capital Partners’ 22nd and Duchossois Capital Management’s 12th transaction in the United States.
  • This is Concentric Equity Partners’ 6th, Summer Street Capital Partners’ 3rd and Duchossois Capital Management’s 3rd transaction in Texas.

M&A Deal Summary

Date 2022-11-29
Target Frontier Waste Solutions
Sector Environmental
Buyer(s) Concentric Equity Partners
Summer Street Capital Partners
Duchossois Capital Management
Sellers(s) Blue Sage Capital
Trailcreek Capital Group
Deal Type Secondary Buyout

Target

Frontier Waste Solutions

Dallas, Texas, United States
Frontier Waste Solutions is a provider of municipal solid waste services to the municipal, residential, commercial, and industrial markets. Frontier Waste Solutions was founded in 2017 and is based in Dallas, Texas.

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Buyer(S) 3

Buyer

Concentric Equity Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2002
Size Small
Type Sector Agnostic
DESCRIPTION

Concentric Equity Partners is a private equity firm that invests in profitable, growth-oriented middle-market companies. Concentric typically invests $10 to $30 million of capital per transaction, however, the Firm's historical investment range is $5 to $100 million. Areas of interest include business services, consumer services, financial services, and healthcare. Prospective transaction situations include management led buyouts, leveraged buyouts, and growth equity investments. Concentric will consider both majority and minority situations. Concentric is the direct investment arm of asset management firm, Financial Investments Corporation. Concentric Equity Partners was established in 2002 and is based in Chicago, Illinois.


DEAL STATS #
Overall 40 of 42
Sector: Environmental M&A 3 of 3
Type: Secondary Buyout M&A Deals 2 of 2
State: Texas M&A 6 of 6
Country: United States M&A 38 of 40
Year: 2022 M&A 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-07 Aruza

Charlotte, North Carolina, United States

Aruza offers home pest control and commercial pest control services in North and South Carolina. Aruza was founded in 2016 and is based in Charlotte, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-20 Coastal Waste & Recycling

Boca Raton, Florida, United States

Coastal Waste & Recycling is a provider of solid waste collection, processing, and disposal services. Coastal Waste & Recycling was founded in 2017 and is based in Boca Raton, Florida.

Sell -
Buyer

Summer Street Capital Partners

Orchard Park, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 480M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Summer Street Capital is a private equity firm that targets investments in lower middle-market companies located in the Eastern and Midwest areas of the US as well as Southeastern Canada. Summer Street seeks to invest in platform companies generating revenues of at least $10 million. Broad ares of interest include environmental, niche manufacturing, and business services, Prospective transaction situations include growth capital financings, management buyouts, corporate divestitures, generational transitions, and recapitalizations. Summer Street Capital was formed in 1999 and based in Orchard Park, New York.


DEAL STATS #
Overall 23 of 23
Sector: Environmental M&A 5 of 5
Type: Secondary Buyout M&A Deals 3 of 3
State: Texas M&A 3 of 3
Country: United States M&A 22 of 22
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-01 Sharps Medical Waste Services

Houston, Texas, United States

Sharps Medical Waste Services provides comprehensive medical waste solutions including collection, transfer, transportation, recycling, waste reduction, sharps management, disposal, and consulting services to hospitals, medical offices, pharmacies and other healthcare providers. Sharps Medical Waste Services was founded in 1988 and is based in Houston, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-20 Coastal Waste & Recycling

Boca Raton, Florida, United States

Coastal Waste & Recycling is a provider of solid waste collection, processing, and disposal services. Coastal Waste & Recycling was founded in 2017 and is based in Boca Raton, Florida.

Sell -
Buyer

Duchossois Capital Management

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Family Office
Founded 2013
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Duchossois Capital Management is the investment arm of family-controlled holding company, The Duchossois Group. Duchossois Capital pursues a variety of investment strategies including direct investments in companies and real estate, public securities, and fund commitments. Duchossois Capital's direct investment arm looks to commit $10 to $200 million in profitable companies generating $50 to $1000 million in annual revenue. For platform investments, Duchossois seeks opportunities throughout North America but will consider add-ons globally. Areas of interest include engineered industrial products, building products, transportation, logistics, rail leasing, value-added distribution, consumer durables, security, healthcare services, and technology-enabled services. Duchossois Capital Management is based in Chicago, Illinois.


DEAL STATS #
Overall 12 of 12
Sector: Environmental M&A 1 of 1
Type: Secondary Buyout M&A Deals 3 of 3
State: Texas M&A 3 of 3
Country: United States M&A 12 of 12
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-01 Pattern

Lehi, Utah, United States

Pattern is a tech-enabled e-commerce retail partner to CPG companies that are seeking to maximize performance across global digital marketplaces. The Company uses proprietary technology to help brands accelerate profitable eCommerce growth on digital marketplaces such as Amazon, Alibaba, Mercadolibre, and eBay, primarily acting as the exclusive authorized partner. Pattern provides full-service global distribution and logistics for marketplaces and D2C fulfillment. Pattern was founded in 2013 and is based in Lehi, Utah.

Buy -

Seller(S) 2

SELLER

Blue Sage Capital

Austin, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 400M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Blue Sage Capital is a private investment firm that invests in lower middle-market companies that have the potential to become market leaders. Target businesses typically generate sales of $20 to $125 million and are valued up to $125 million. Blue Sage is a generalist firm with broad industry interest. Target sectors include industrial, distribution, service, healthcare, manufacturing, energy and media. Blue Sage geographically prefers companies located in Texas and the Southwest US. Blue Sage will not invest in banks, life insurance companies, oil and gas exploration and development projects, real estate development or companies located outside of the United States. Blue Sage was formed in 2003 and is based in Austin, Texas.


DEAL STATS #
Overall 21 of 23
Sector: Environmental M&A 2 of 2
Type: Secondary Buyout M&A Deals 5 of 6
State: Texas M&A 8 of 9
Country: United States M&A 20 of 22
Year: 2022 M&A 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-13 Ligchine

Darien, Wisconsin, United States

Ligchine is a designer, manufacturer, and marketer of laser-guided boom-operated concrete screeds. The Company produces a diverse range of models under the ScreedSaver banner, and Ligchine’s products provide best-in-class concrete floor flatness and levelness results for its customers. Ligchine was founded in 2007 and is based in Darien, Wisconsin.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-08 Magnum Systems

Lenexa, Kansas, United States

Magnum Systems is a designer and manufacturer of pneumatic conveying systems and packaging systems for powder and bulk solids. Magnum Systems was founded in 1960 and is based in Lenexa, Kansas.

Sell -
DESCRIPTION

Trailcreek Capital Group is a private investment firm focused on long-term investments in in growth companies with strong fundamentals. The Firm does not have any stated sector preferences, but targets companies with barriers to entry, strong free cash flow generation, and recurring revenue. Trailcreek Capital Group was formed in 2014 and is headquartered in Denver, Colorado.


DEAL STATS #
Overall 1 of 1
Sector: Environmental M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
State: Texas M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-12 Natural Upcycling

Linwood, New York, United States

Natural Upcycling is a provider of food and organic material recycling services, including food waste collection, depackaging, recycling, certification, facilities management and zero waste consulting solutions. Natural Upcycling was founded in 2014 and is based in Linwood, New York.

Buy -