Littlejohn & Co. Welcomes Ares as Significant Investor in Interstate Waste Services
Interstate Waste Services Completes Debt Recapitalization
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“We are proud to work with Ares as we continue to strategically build IWS services and capabilities for customers,” said Brian Michaud, a Managing Director at Littlejohn. “Since our investment in 2020, IWS has continued to grow in the
“This transaction is a testament to our unique platform, established market presence, and dedicated leadership team,” said Michael DiBella, CEO of IWS. “Our partnership with Littlejohn has enabled the rapid growth of IWS over the last three years, and, going forward, we are excited to leverage the substantial financial and operational expertise that both Ares and Littlejohn bring to the table.”
“We are pleased to welcome Ares to the IWS team as we enter a new chapter for our business,” continued Brian D’Amico, Executive Chairman of IWS. “Littlejohn’s and Ares’ support, along with the debt recapitalization, position IWS for accelerated growth in its core segments as we continue to invest in several expansion initiatives.”
“We are thrilled to work with Littlejohn and to join the Interstate family. Mike, Brian and the rest of the team have built an incredible solid waste platform, that we believe is well-positioned to leverage its great culture and service-focus to take advantage of the exciting growth opportunities ahead. Together, we believe the combination of Ares, Littlejohn and IWS will be great not only for the company, but importantly for all its stakeholders, including customers, employees, and the communities that IWS serves,” said Natasha Li, Partner in the Ares Private Equity Group.
Brown Gibbons Lang & Company and Houlihan Lokey served as financial advisors and Sheppard, Mullin, Richter & Hampton LLP served as legal counsel to IWS. R.W. Baird served as exclusive financial advisor and Kirkland & Ellis LLP served as legal counsel to Ares.
About Interstate Waste Services:
Interstate Waste Services, Inc. is a vertically-integrated provider of solid waste and recycling services in the greater
About Littlejohn & Co., LLC:
Littlejohn & Co. is a
About Ares Management Corporation:
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to deliver consistent and attractive investment returns throughout market cycles. As of June 30, 2023, Ares Management Corporation's global platform had approximately
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Source: Littlejohn & Co. LLC