M&A Deal Summary

Tunnel Hill Partners Acquires City Carting Holding

On June 3, 2016, Tunnel Hill Partners acquired environmental company City Carting Holding from Alcentra Capital and Advantage Capital Partners

Acquisition Highlights
  • This is Tunnel Hill Partners’ 1st transaction in the Environmental sector.
  • This is Tunnel Hill Partners’ 1st transaction in the United States.
  • This is Tunnel Hill Partners’ 1st transaction in Connecticut.

M&A Deal Summary

Date 2016-06-03
Target City Carting Holding
Sector Environmental
Buyer(s) Tunnel Hill Partners
Sellers(s) Alcentra Capital
Advantage Capital Partners
Deal Type Add-on Acquisition

Target

City Carting Holding

Stamford, Connecticut, United States
City Carting Holding Co., Inc. is a provider of waste management and recycling services.

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Buyer(S) 1

Buyer

Tunnel Hill Partners

Stamford, Connecticut, United States

Category Company
Sector Environmental
DESCRIPTION

Tunnel Hill Partners is an integrated waste management company with a growing number of landfill, transfer station and hauling assets located throughout Ohio and the Northeast. Its flagship landfill comprises more than 2,200 acres, has over 150 million tons of permittable capacity, provides direct access to the Ohio Central Railroad, and has an advanced load-out facility (one of only two in Ohio).


DEAL STATS #
Overall 1 of 1
Sector (Environmental) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Connecticut) 1 of 1
Country (United States) 1 of 1
Year (2016) 1 of 1

Seller(S) 2

SELLER

Alcentra Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1998
PE ASSETS 540M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Alcentra Capital Corporation is the direct investment arm of asset management firm Alcentra. Alcentra capital looks to provide equity and subordinated debt to middle-market companies throughout North America. The Firm looks to invest $5 to $15 million per transaction in profitable companies with $5 to $15 million of EBITDA. Sectors of interest include healthcare, government services, business services, and defense. Alcentra Capital Corporation was formerly known as BNY Mellon-Alcentra Mezzanine Partners. The Group was originally established in 1998 and is based in New York City.


DEAL STATS #
Overall 31 of 40
Sector (Environmental) 1 of 2
Type (Add-on Acquisition) 13 of 19
State (Connecticut) 2 of 2
Country (United States) 30 of 38
Year (2016) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-01 Dentistry for Children P.C.

South Weymouth, Massachusetts, United States

Dentistry for Children operates 13 pediatric dental care centers located in the Southeast U.S. The Company focuses on children’s oral health services by providing a complete range of care, including pediatric dentistry, orthodontics, and oral surgery.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-05 DBi Services

Hazleton, Pennsylvania, United States

DBi Services provides infrastructure maintenance, operations and management solutions in North America and Europe for government agencies, utilities, private industries, railways, retailers and other infrastructure owners. DBi Services was founded in 1978 and is based in Hazleton, Pennsylvania.

Sell -
SELLER

Advantage Capital Partners

New Orleans, Louisiana, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1992
PE ASSETS 2.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Advantage Capital Partners is a private equity firm focused on providing growth capital to a variety of companies. The Firm's geographic coverage includes Alabama, Colorado, Florida, Hawaii, Louisiana, Mississippi, Missouri, New York, Texas, Wisconsin and Washington DC. Advantage looks to initially commit $0.5 to $2 million per investment and can provide mezzanine debt in addition to equity capital. Areas of interest include communications, information technology, life science, and energy. Advantage Capital was formed in 1992 and is headquartered in New Orleans, Louisiana.


DEAL STATS #
Overall 69 of 97
Sector (Environmental) 1 of 1
Type (Add-on Acquisition) 38 of 54
State (Connecticut) 6 of 9
Country (United States) 69 of 97
Year (2016) 5 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-07 NeuWave Medical

Madison, Wisconsin, United States

NeuWave Medical, Inc. is a medical device company that manufactures and markets minimally invasive soft tissue microwave ablation systems.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-23 Pacific Ag

Hermiston, Oregon, United States

Pacific Ag harvests and markets crop residues for hundreds of U.S. growers. The crop residues are then sold to customers throughout the world. Pacific Ag has become the service provider of agriculture biomass supply chain solutions, delivering hundreds of thousands of tons of product volume to end markets in the U.S. and around the world. Pacific AG was founded in 1998 and is based in Hermiston, Oregon.

Buy -