Joint Venture • Environmental

Tailwater Capital and Waste Management Acquire Continuus Materials

On January 13, 2022, private equity firm Tailwater Capital and Waste Management acquired environmental company Continuus Materials

Acquisition Context
  • This is Tailwater Capital’s 4th and Waste Management’s 17th transaction in the Environmental sector.
  • This is Tailwater Capital’s 26th and Waste Management’s 19th transaction in the United States.
  • This is Tailwater Capital’s 21st and Waste Management’s 2nd transaction in Texas.

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M&A Deal Summary

Date January 13, 2022
Target Continuus Materials
Sector Environmental
Buyer(s) Tailwater Capital
Waste Management
Deal Type Joint Venture

Target Company

Continuus Materials

The Woodlands, Texas, United States
Continuus Materials develops and operates manufacturing facilities that upcycle plastic and fiber materials from municipal solid waste into Everboard, a proprietary, high-performance, low-slope roof cover board. Continuus Materials’ process reduces landfill waste and will generate significantly lower life-cycle greenhouse gas emissions than competing products made from traditional materials. Continuus Materials is based in The Woodlands, Texas.
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Buyers Overview 2

Buyer

Tailwater Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2013
PE ASSETS 4.4B USD
Size Large
Type Sector Focused
DESCRIPTION

Tailwater Capital LLC is a specialist private equity firm focused on middle-market opportunities in the midstream and upstream sectors of the energy industry. Tailwater will consider acquisitions of non-core assets, roll-up situations, anchored greenfields, and joint ventures. Tailwater Capital was formed in 2013 and is based in Dallas, Texas.


Deal Context for Buyer #
Overall 26 of 29
Sector: Environmental 4 of 4
Type: Joint Venture 1 of 1
State: Texas 21 of 22
Country: United States 26 of 29
Year: 2022 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-01 Frontier Carbon Solutions

Dallas, Texas, United States

Frontier Carbon Solutions is a provider of carbon sequestration services to industrial emitters through the investment, development, and operation of commercial CCUS infrastructure in the Rocky Mountain Region. Frontier Carbon Solutions is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-04 Renovo Resources

Irvine, California, United States

Renovo Resources is an asset development company, that will provide turnkey produced water treatment solutions to a blue-chip customer base across the energy and industrial sectors. Renovo Resources is based in Irvine, California.

Buy -
Buyer

Waste Management

Houston, Texas, United States

Category Company
Founded 1987
Sector Environmental
Employees61,700
Revenue 22.1B USD (2024)
DESCRIPTION
Entrance to Waste Management's corporate headquarters in the First City Tower in downtown Houston, Texas.
Entrance to Waste Management's corporate headquarters in the First City Tower in downtown Houston, Texas.

Waste Management is a provider of comprehensive waste management and environmental services in North America. The company operates a network of waste collection, recycling, and disposal facilities that serve residential, commercial, and industrial customers across the United States and Canada. Waste Management's services include garbage and recycling collection, hazardous waste disposal, landfill management, and renewable energy production. Waste Management was founded in 1987 and is based in Houston, Texas.


Deal Context for Buyer #
Overall 20 of 22
Sector: Environmental 17 of 19
Type: Joint Venture 1 of 1
State: Texas 2 of 3
Country: United States 19 of 21
Year: 2022 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-15 Advanced Disposal Services

Jacksonville, Florida, United States

Advanced Disposal Services, Inc. is an integrated provider of non-hazardous solid waste collection, transfer, recycling and disposal services operating primarily in secondary markets or under exclusive arrangements. Advanced Disposal has a presence in 18 states across the Midwest, South and East regions of the US. Advanced Disposal Services, Inc. was founded in 2000 and is headquartered in Ponte Vedra, Florida.

Buy $4.9B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-13 Natura PCR

Houston, Texas, United States

Natura PCR is an independent company that is a film/post-consumer resin producer in the Americas. Natura PCR is based in Houston, Texas.

Buy -