Summer Street Capital Announces Acquisition of Apple Valley Waste
BUFFALO, N.Y., March 23, 2011 /PRNewswire/ -- Summer Street Capital Partners LLC (www.summerstreetcapital.com), a private equity fund based in Buffalo, NY, announced today that it has acquired Apple Valley Waste, a provider of solid waste collection, recycling, and disposal services serving Berkley and Jefferson Counties in West Virginia and Washington County, Maryland.
In connection with the acquisition, Apple Valley announced the addition of industry veteran John Decker as Managing Partner. John most recently served as Vice President of Operations for Casella Waste Systems, an integrated solid waste and recycling services company with operations in 14 states and annual revenues in excess of $500 million.
"Apple Valley is a premier environmental services company, focused on providing the highest quality services in the communities that it serves," said Summer Street's Principal Michael Petri. "The addition of John Decker adds tremendous industry knowledge and experience to the management team. We look forward to working with John, general manager James Phillips, and the rest of the team at Apple Valley to continue to build on the excellent services they provide."
"Apple Valley Waste is very proud of our employees and the relationships they have developed with the communities we serve. An organization built on a sincere commitment to customer service, the environment, and each other is the right foundation for the future," said John Decker. He continued, "Our partnership with Summer Street will enable us to reach further in our quest to consistently exceed our customers' expectations while being an industry leader in environmental solutions."
Brian D'Amico, Summer Street Managing Partner and head of the firm's environmental services investment team, commented: "The acquisition of Apple Valley is an exciting opportunity for Summer Street. It is the Fund's second investment in an environmental services company in 2010, and our first in the Mid-Atlantic region. We look forward to supporting John Decker and the talented team at AVW in their plan for regional growth."
ABOUT APPLE VALLEY WASTE
Headquartered in Kearneysville, WV, Apple Valley Waste is a provider of solid waste collection and environmental recycling services. Apple Valley provides first class solid waste collection, recycling, and disposal services to residential and commercial customers in Berkeley and Jefferson Counties, West Virginia and Washington County, Maryland. For more information, please visit www.applevalleywaste.com.
ABOUT SUMMER STREET CAPITAL PARTNERS LLC
Summer Street Capital Partners LLC, founded in 1999, is a Buffalo, NY-based private equity fund with approximately $300 million of committed capital is focused on investing in small-market companies. The firm invests alongside talented managers, bringing capital and resources to support acquisitions and aggressive growth strategies. Summer Street's investors include leading pension funds, insurance companies, and banking institutions. Summer Street seeks to invest $15-$30 million to support management buy-outs, family transitions, corporate divestitures, growth financings, and recapitalizations. The investment team is complemented by a team of experienced operating partners who are integrally involved in assisting portfolio companies. Visit www.summerstreetcapital.com for additional information.
SOURCE Summer Street Capital Partners LLC