Recent News and Announcements from Centre Partners
Leading Middle Market Private Equity Firm Partners with Management and Waste Industry Veterans to Acquire Solid Waste Logistics Company
New York, NY, December 18, 2007 – Centre Partners Management LLC today completed the acquisition of Liberty Waste Services, LLC in partnership with members of Liberty’s senior management team and Centre Environmental Partners, Inc. (“CEP”), an affiliate of Centre Partners led by environmental services industry veterans Ross M. Patten and Scott Bernstein.
Liberty, which has been renamed Environmental Logistics Services LLC (“ELS”), is a leading provider of solid waste transportation and disposal services for customers throughout the Northeast and Midwest. The Company handles municipal solid waste and construction and demolition debris through three facilities located in New Jersey and Ohio. Liberty operates a rail transloading facility in Kearny, New Jersey, a 1,285 acre landfill in Springfield Township, Ohio, and a transfer station in Bridgeport, Ohio.
Centre Partners is a leading middle market private equity firm with offices in New York and Los Angeles. Centre Partners has invested over $3 billion of equity capital in more than 90 businesses in the past 20 years.
Centre Partners completed the acquisition in partnership with two of Liberty’s senior executives, Darren and Anthony Rizzo, who will serve as ELS’s CEO and COO, respectively. The Rizzos founded Liberty’s rail operations in New Jersey and are 15 year veterans of the waste transportation business. David Jaffe, Managing Partner of Centre Partners, said, “We are excited about partnering with ELS” management team and expanding our investment in the highly attractive environmental services sector alongside Centre Environmental Partners. Under the leadership of Darren and Anthony Rizzo, ELS has the potential to become one of the leading waste logistics companies in the country.”
ELS CEO Darren Rizzo said, “Our management team and employees are excited about our partnership with Centre Partners and Centre Environmental Partners. We look forward to benefiting from their vast experience as we work together to build a leading environmental services company. We share the commitment to providing a valuable service to our customers and contributing responsibly to our host communities in Ohio and New Jersey.”
About Liberty Waste Services
Liberty Waste Services, which has been renamed Environmental Logistics Services LLC (“ELS”), is a leading provider of solid waste transportation and disposal services for customers throughout the Northeast and Midwest. The Company handles municipal solid waste and construction and demolition debris through three facilities located in New Jersey and Ohio. Liberty operates a rail transloading facility in Kearny, New Jersey, a 1,285 acre landfill in Springfield Township, Ohio, and a transfer station in Bridgeport, Ohio.
About Centre Partners
Centre Partners, founded in 1986, is a leading private equity firm with a middle market focus that seeks to make acquisitions and equity investments alongside management teams who have or desire a meaningful economic stake in the future success of their businesse