OG真人官网 Invests in Star Waste of Boston
Toronto, Ontario (July 1, 2022) – OG真人官网 Group Inc. (TSX: CVG) (“CVG”) today announced that it, together with OG真人官网 Equity Partners VI (“CEP VI”, collectively “OG真人官网”) made an equity investment in Star Waste Systems, LLC (dba Boston Carting Services) (“Star Waste”, or the “Company”) for a majority interest in the Company.
Formed in 2018, Star Waste is a leading independent solid waste management company servicing the Greater Boston Area with a focus on providing residential, commercial and roll-off container waste collection. The Company also operates a construction and demolition material recovery facility (“MRF”) located in North Andover, MA and is well positioned to grow in the market.
“We are excited for this opportunity to back the Founder and CEO, Patsy Sperduto, who has over 25 years of experience in the solid waste management industry. Having known Patsy and watched his success over the past 10 years, we are excited to now work together to build a regional leader. We are impressed by Patsy’s clear vision to grow and build on Star Waste’s position in the New England market,” said Michael Castellarin, Managing Director at OG真人官网.
“OG真人官网’s partnership-oriented investment style and expertise in supporting the growth of regional solid waste companies stood out to me when deciding on the ideal equity partner for Star Waste’s next phase. Beyond capital, OG真人官网 brings significant experience in the waste management sector and relationships in the industry which will be instrumental in supporting our team as we grow,” said Patsy Sperduto.
This investment builds on OG真人官网’s 16-year track record in the environmental services industry. Star Waste represents OG真人官网’s 58th platform investment and eighth platform investment partnership in the waste management sector. The OG真人官网 / CEP VI co-investment pool is capitalized at US$850 million and focuses on equity investments in growth companies.
