Is a Waste Management Private Equity Deal Worth It?
How Gryphon Succeeded with a Private Equity Waste Management Deal
Identifying Core Recycling Investment Obstacles
San Francisco-based Gryphon Investors came to Apex Leaders last year with a quandary. They had to decide whether a private equity investment in waste management was worth pursuing, but they had very little to go on. Recognizing the critical role expert networks like Apex Leaders play in evaluating high-stakes deals, they sought expert insight early in the process. They knew an asset was coming, but didn’t have a CIM. They also wanted to secure an operating partner before they’d pursue any deal. They needed expert insights to guide them very early on in the process.
The Focus of Our Search for Waste Collection Expertise
Gryphon Investors (Gryphon) was impressed with Wind River Environmental’s track record of solid growth and its 60 past acquisitions, but the firm needed an operating partner in place before committing to acquire the Massachusetts-based company that inspects, services, and installs liquid waste systems, including septic tanks and grease traps, and handles waste disposal.
Finding Solid Waste & Municipal Sector PE Experts
Gryphon provided Apex with a “wish list” of competitor companies and asked us to find them former C-level executives who could give them a better understanding of Wind River and the waste management space. Apex ultimately tracked down and reached out to 25 former executives from competitor companies, including former CEOs, SVPs, and EVPs.
“We are excited to partner with Gryphon…We believe that Gryphon brings significant resources and expertise to support these efforts,”
John O’Connell,
Wind River CEO
PE Deals in Waste Management: The Outcome
Apex Leaders linked Gryphon Investors up with private equity experts who were four former C-level executives from competitor waste management sector companies, helping them build confidence in pursuing this private equity waste management deal. The client gave one advisor a 5 , the highest possible ranking, noting “great find!” and said they would likely want to work with another advisor on future projects. Executives initially engaged included:
- SVP of Human Resources, American Water (formerly)
- EVP of Sales & Marketing, Republic Services (formerly)
- EVP Sales & Customer Experience, Republic Services (formerly)
- CFO, Republic Services (formerly)
When Gryphon pivoted a few months later, presenting Apex Leaders with a new list of competitors it needed insight from to help them drive home the deal, we were able to respond quickly, connecting them with the former President/CEO and VP of Operations from two competitors on their new list. The insights from these expert advisors helped Gryphon confidently move forward with the transaction, ultimately acquiring Wind River Environmental.
When Gryphon pivoted a few months later, presenting Apex Leaders with a new list of competitors it needed insight from to help them drive home the deal, we were able to respond quickly, connecting them with the former President/CEO and VP of Operations from two competitors on their new list.
Key Takeaways for Private Equity Waste Management Investing
Gryphon’s successful acquisition highlights the value of expert network support in private equity and waste management investing. Apex Leaders continues to support private equity firms seeking to evaluate opportunities in the waste and environmental services industries and many other sectors.
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