Private equity firm partners with Winter Bros. execs in $28 million investment.
The Canadian private equity firm Clairvest Group Inc., along with Joe and Sean Winters, top officials of Winter Bros. Waste Systems, have made a $28.5 million investment in Winter Bros. Waste Systems, headquartered in Danbury, Conn.
Winters Bros. is a solid waste collection, recycling and disposal company that provides residential, commercial and industrial waste and recycling collection services in Connecticut and part of New York. Additionally, the company operates several transfer stations and a single stream recycling facility.
Clairvest’s portion of the investment, at $7.6 million, will be Clairvest’s second partnership with the Winters in the sector, following an earlier investment on Long Island, N.Y. The investment in Winters Bros. represents Clairvest’s fourth investment in the solid waste management industry.
“We are excited to partner with Joe and Sean Winters again and to back an exceptionally strong and invested management team. Our partners have demonstrated success in building first-class waste management businesses, and we are honored that they selected Clairvest once again to support them in executing the growth opportunity they have created for Winters Bros. of Connecticut,” says Michael Castellarin, managing director of Clairvest.
“We are very pleased to partner and work again with Clairvest. We know and understand each other and Clairvest knows the solid waste sector, our business and supports our vision for growth, all qualities that are very important to Sean and me in selecting the right partner for our business,” says Joe Winters, CEO of Winters Bros.