Livingstone hauls in buyer for Inland Waste Solutions

  • Apr 2016
  • Business Services
  • M&A: Sell-Side
  • US

Livingstone is pleased to announce the sale of Inland Waste Solutions, LLC, to affiliates of Falcon Investment Advisors, LLC and Altos Energy Partners LLC. Terms of the transaction were not disclosed. Inland is a full-service solid waste management and recycling collection company serving a diverse customer base that includes government agencies, municipalities, residential households, and commercial businesses.

The Company provides a unique mix of complementary services including residential and commercial solid waste collection, recycling collection, industrial roll-off, and transfer station and landfill management. Inland, a closely held, owner operator business, was founded in 1953 and is headquartered in Austin, TX.

“Inland marks the latest success for Livingstone’s Industrial team transacting on behalf of owner operators with niche market leading industrial service businesses. Under the stewardship of Bart Begley, Monty Davison and Robert Smith, Inland developed a leading solid waste collection and recycling platform in the southeast region of the United States.” said Karl Freimuth, Managing Director at Livingstone. “We are proud to have advised Inland on a successful sale and to have found growth-oriented partners in Falcon and Altos to support the Company’s ambitious future expansion plan.”

Bart Begley, CEO of Inland added: “We are thrilled with the outcome of the process and are convinced we sold to the right group to support Inland’s continued success. Livingstone demonstrated a unique understanding of our business, developed an outstanding offering package, and provided sound advice throughout the process. Livingstone’s creative approach to dealmaking helped deliver a successful transaction outcome.”

“The debt and M&A markets, albeit choppy, continue to aggressively support ‘A-grade’ assets. Industrial and environmental services companies providing ‘essential’ services such as Inland often fit this bill, with their recurring and defensible revenue streams,” said Stephen Miles, Partner at Livingstone.

Over the last six months, Livingstone has announced several transactions within the industrial services sector, including the sale of precision machining pioneer Abrasive Form to Calvert Street Capital Partners and raising a credit facility for Premium Inspection & Testing, a non-destructive testing and inspection services business operating primarily in the midstream oil and gas and diversified industrials sectors. The Inland sale also adds to Livingstone’s resume in the environmental services sector, having closed transactions for Lakeshore Recycling Systems and Emerald Waste Services. Senior debt financing for the transaction was provided by Comerica and Webster Bank.

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