Atar Capital acquires HAVI’s Recycling and Waste Solutions business

Above: Anthony DiIenno remains president and CEO of RWS. 

Atar Capital, Los Angeles, has announced that it has completed the acquisition of Havi’s Recycling and Waste Solutions (RWS) division. Financial terms of the transaction were not disclosed. Effective immediately, Anthony DiIenno remains in his role president and CEO of RWS.

Atar Capital is a global private investment firm that invests in performing and underperforming lower-middle-market businesses that exhibit potential for revitalization, operational performance improvement and growth. The firm specializes in corporate divestitures, complex carve-outs and turn-around situations across a wide range of industries and geographic markets, with a focus on North America and Western Europe.

RWS was launched in 2012 with the goal of providing true “closed loop” solutions and complementing Havi’s global supply chain offerings. Based in Chadds Ford, Pennsylvania, RWS develops and manages recycling, waste and sustainability programs for regional and multinational companies throughout North America. RWS has offices in Atlanta; Plano, Texas; St. Louis; and Los Angeles.

Cyrus Nikou, founder and managing partner of Atar Capital, says, “We are thrilled to welcome Anthony and the RWS team to the Atar family. We were attracted to RWS as a result of their strong management team, notable blue-chip customer base, and market leading technology and analytics platform—all of which separates RWS from its competition.”

He continues, “This transaction marks Atar Capital’s second closing and execution of a corporate divestiture in eight months and highlights our ability to deliver speed and certainty to a respected corporate seller like Havi—executing this transaction in just under 21 days. We will now bring Atar Capital’s financial, operational and M&A resources to bear in support of the company’s long-term strategic plans. We are excited to work with RWS and to help them reach their full potential.”

DiIenno, a third-generation recycler with more than 30 years of recycling and waste solutions experience, has led his team and delivered double digit growth for the business over the last five years.

“The Atar team and I believe that we have a significant opportunity to enhance the long-term value of our business for all stakeholders, including our customers,” DiIenno says. “We look forward to a seamless transition over the next 100 days while maintaining best-in-class service for our customers.”

Dan Musachia, chief financial officer for Downers Grove, Illinois-baed Havi, says, “Havi remains committed to advancing sustainable solutions as a critical component of our supply chain service offerings, and RWS will continue to remain Havi’s preferred partner for recycling and waste solutions.”

BNP Paribas acted as the exclusive advisor to Havi on the sale, and Dykema Gossett acted as outside legal counsel to Atar Capital.