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MACQUARIE ASSET MANAGEMENT COMPLETES ACQUISITION OF DTG RECYCLE
BOTHELL, WA, USA, December 1, 2022 /EINPresswire.com/ -- DTG Recycle (DTG) announced that a fund managed by Macquarie Asset Management (MAM), has completed the acquisition of DTG from its current owners. DTG is Washington State’s leading independent vertically integrated non-MSW recycling business. Financial terms were not disclosed.
The resulting ownership structure will accelerate DTG’s growth trajectory and solidify its leadership position as the largest privately held vertically integrated non-MSW recycling business in Washington State; the investment will have no impact on the company’s existing services or operations.
As part of the transaction, Tom Vaughn will continue as Chief Executive Officer, and Dan Guimont will become Chief Development Officer. Both Tom and Dan will be members of the Board of Managers of DTG and meaningful owners of the company alongside MAM.
“We are excited to partner with Macquarie Asset Management through this investment into DTG. With their deep knowledge of the space and their track record of providing ongoing capital and dedicated support to management teams, we will be able to accelerate our growth both within our existing area of operations and into adjacent geographies. This partnership will help us continue to advocate for increased diversion of recyclable non-MSW materials out of landfills and support our communities’ sustainability goals,” said DTG Chief Executive Officer Tom Vaughn.
MAM-managed funds have invested over $4.5 billion in the waste industry in the Americas since 2007, including realized investments in Waste Industries, WCA, and GFL Environmental, and current investments in WIN Waste Innovations, Solví, LRS, Greenwaste and now DTG.
“We are excited to partner with Tom and Dan and the rest of the DTG management team in supporting their next stage of growth. Macquarie Asset Management has significant experience supporting waste businesses like DTG and invests in people, processes and systems to strengthen existing platforms, support future growth and improve performance. DTG’s leadership in non-MSW recycling and focus on a diversion led business model differentiates the company and positions it well to meet the sustainability expectations of the communities in which DTG operates,” said Karl Kuchel, CEO of Macquarie Infrastructure Partners.
Since its formation in 1999, DTG has grown from a single truck to a regional leader in non-MSW recycling and diversion with a leading network of collection assets, including more than 3,900 containers and a fleet of over 270 vehicles, 12 materials recovery facilities (MRFs) across the Puget Sound region and a landfill.
“I am proud of the more than 500 employees of DTG who make a difference every day in the communities in which we operate. It is particularly pleasing to see DTG make this transition into its next stage of growth with Macquarie Asset Management and I am looking forward to my own transition into an acquisitions focused role that will see DTG continue to consolidate its operating footprint and expand into adjacent geographies,” said Dan Guimont, Founder of DTG and now DTG Chief Development Officer.
Nomura Greentech acted as exclusive financial advisor to Macquarie Asset Management and White & Case acted as legal counsel.
About DTG Recycle
DTG Recycle is the largest recycler of construction, demolition, industrial, and manufacturing waste in the Pacific Northwest. They strive for a zero-waste future by collecting, transporting, processing, and manufacturing waste into innovative end products from recovered materials. With a diversified collection and transportation fleet, they provide unique, convenient recycling methods and the industry’s best customer service. DTG Recycle also offers full-service organics processing, portable restrooms and sweeper truck services. We are Customer Focused, Planet Obsessed. Learn more at https://www.dtgrecycle.com.
About Macquarie Asset Management
Macquarie Asset Management is a global asset manager that aims to deliver positive impact for everyone. Trusted by institutions, pension funds, governments, and individuals to manage approximately $US509 billion in assets globally, we provide access to specialist investment expertise across a range of capabilities including infrastructure, green investments & renewables, real estate, agriculture & natural assets, asset finance, private credit, equities, fixed income and multi asset solutions.
Macquarie Asset Management is part of Macquarie Group, a diversified financial group providing clients with asset management, finance, banking, advisory and risk and capital solutions across debt, equity, and commodities. Founded in 1969, Macquarie Group employs more than 19,000 people in 33 markets and is listed on the Australian Securities Exchange.
All figures as at 30 September 2022. For more information, please visit Macquarie.com.
Other than Macquarie Bank Limited ABN 46 008 583 542 (“Macquarie Bank”), any Macquarie Group entity noted in this document is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these other Macquarie Group entities do not represent deposits or other liabilities of Macquarie Bank. Macquarie Bank does not guarantee or otherwise provide assurance in respect of the obligations of these other Macquarie Group entities. In addition, if this document relates to an investment, (a) the investor is subject to investment risk including possible delays in repayment and loss of income and principal invested and (b) none of Macquarie Bank or any other Macquarie Group entity guarantees any particular rate of return on or the performance of the investment, nor do they guarantee repayment of capital in respect of the investment.
The resulting ownership structure will accelerate DTG’s growth trajectory and solidify its leadership position as the largest privately held vertically integrated non-MSW recycling business in Washington State; the investment will have no impact on the company’s existing services or operations.
As part of the transaction, Tom Vaughn will continue as Chief Executive Officer, and Dan Guimont will become Chief Development Officer. Both Tom and Dan will be members of the Board of Managers of DTG and meaningful owners of the company alongside MAM.
“We are excited to partner with Macquarie Asset Management through this investment into DTG. With their deep knowledge of the space and their track record of providing ongoing capital and dedicated support to management teams, we will be able to accelerate our growth both within our existing area of operations and into adjacent geographies. This partnership will help us continue to advocate for increased diversion of recyclable non-MSW materials out of landfills and support our communities’ sustainability goals,” said DTG Chief Executive Officer Tom Vaughn.
MAM-managed funds have invested over $4.5 billion in the waste industry in the Americas since 2007, including realized investments in Waste Industries, WCA, and GFL Environmental, and current investments in WIN Waste Innovations, Solví, LRS, Greenwaste and now DTG.
“We are excited to partner with Tom and Dan and the rest of the DTG management team in supporting their next stage of growth. Macquarie Asset Management has significant experience supporting waste businesses like DTG and invests in people, processes and systems to strengthen existing platforms, support future growth and improve performance. DTG’s leadership in non-MSW recycling and focus on a diversion led business model differentiates the company and positions it well to meet the sustainability expectations of the communities in which DTG operates,” said Karl Kuchel, CEO of Macquarie Infrastructure Partners.
Since its formation in 1999, DTG has grown from a single truck to a regional leader in non-MSW recycling and diversion with a leading network of collection assets, including more than 3,900 containers and a fleet of over 270 vehicles, 12 materials recovery facilities (MRFs) across the Puget Sound region and a landfill.
“I am proud of the more than 500 employees of DTG who make a difference every day in the communities in which we operate. It is particularly pleasing to see DTG make this transition into its next stage of growth with Macquarie Asset Management and I am looking forward to my own transition into an acquisitions focused role that will see DTG continue to consolidate its operating footprint and expand into adjacent geographies,” said Dan Guimont, Founder of DTG and now DTG Chief Development Officer.
Nomura Greentech acted as exclusive financial advisor to Macquarie Asset Management and White & Case acted as legal counsel.
About DTG Recycle
DTG Recycle is the largest recycler of construction, demolition, industrial, and manufacturing waste in the Pacific Northwest. They strive for a zero-waste future by collecting, transporting, processing, and manufacturing waste into innovative end products from recovered materials. With a diversified collection and transportation fleet, they provide unique, convenient recycling methods and the industry’s best customer service. DTG Recycle also offers full-service organics processing, portable restrooms and sweeper truck services. We are Customer Focused, Planet Obsessed. Learn more at https://www.dtgrecycle.com.
About Macquarie Asset Management
Macquarie Asset Management is a global asset manager that aims to deliver positive impact for everyone. Trusted by institutions, pension funds, governments, and individuals to manage approximately $US509 billion in assets globally, we provide access to specialist investment expertise across a range of capabilities including infrastructure, green investments & renewables, real estate, agriculture & natural assets, asset finance, private credit, equities, fixed income and multi asset solutions.
Macquarie Asset Management is part of Macquarie Group, a diversified financial group providing clients with asset management, finance, banking, advisory and risk and capital solutions across debt, equity, and commodities. Founded in 1969, Macquarie Group employs more than 19,000 people in 33 markets and is listed on the Australian Securities Exchange.
All figures as at 30 September 2022. For more information, please visit Macquarie.com.
Other than Macquarie Bank Limited ABN 46 008 583 542 (“Macquarie Bank”), any Macquarie Group entity noted in this document is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these other Macquarie Group entities do not represent deposits or other liabilities of Macquarie Bank. Macquarie Bank does not guarantee or otherwise provide assurance in respect of the obligations of these other Macquarie Group entities. In addition, if this document relates to an investment, (a) the investor is subject to investment risk including possible delays in repayment and loss of income and principal invested and (b) none of Macquarie Bank or any other Macquarie Group entity guarantees any particular rate of return on or the performance of the investment, nor do they guarantee repayment of capital in respect of the investment.
John Martin
DTG Recycle
+1 425-549-3000
email us here
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