ROWAYTON, Conn., July 07, 2022 (GLOBE NEWSWIRE) — Eaton Partners (“Eaton”), one of the largest placement agents and financial advisory firms and a wholly-owned subsidiary of Stifel Financial Corp. (NYSE: SF), is pleased to announce that it has acted as exclusive financial advisor and placement agent for Allied Industrial Partners LLC (“AIP”), an industrial-focused middle market private equity firm based in Houston, Texas. Eaton worked together with AIP to raise capital from a group of limited partners to acquire a controlling interest in Waste Eliminator, as part of a buy-and-build strategy.
AIP was founded in 2019 by a group of seasoned operating executives and investment professionals led by Bradford Rossi and Philip Wright. The team’s strategy focuses on partnering with family-owned businesses that have consistent cash flow generation and defensible market positions that would benefit from additional operational expertise. Eaton also served as the exclusive placement agent and financial advisor for AIP’s acquisition of CES Power in July 2021.
Waste Eliminator was founded in 2005 by Wes Turner as a service-oriented, construction & demolition waste management company focused on metro Atlanta. The Company maintains a tenured position as a market leader that provides critical, turn-key waste management and recycling solutions for larger commercial clients and operates a well-maintained fleet of logistics and container assets as well as strategically located material recovery facilities. AIP has executed two bolt-on acquisitions for Waste Eliminator, which are expected to nearly double the size of the platform by year-end 2022.
“Congratulations to the AIP team on another tremendous capital raise,” said Peter Martenson, Managing Director, GP Advisory, Secondaries, and Directs at Eaton Partners. “Waste Eliminator represents a substantial opportunity to leverage AIP’s already successful approach to hands-on investing in high-growth companies in which the firm can implement operational value-add initiatives.”
“Waste Eliminator is a market leader in the waste management arena and this capital raise represents the best possible outcome for a buy-and-build strategy,” said Bradford Rossi, Co-Founder and Managing Partner at AIP. “Thank you to the Eaton team for advising us on another successful capital raise, which resulted in a strong institutional investor base that allowed us to secure two bolt-on acquisitions during the diligence process, one of which we were able to close within the first 90 days.”
In addition to advising on and executing GP-led secondary transactions, Eaton’s GP Advisory, Secondaries & Directs group focuses on supporting GPs through its direct capital raise services. Over the last two years, Eaton has advised GPs and companies on more than $2.5 billion of secondary and direct investment transactions.
About Eaton Partners
Eaton Partners, a Stifel Company, is one of the world’s largest capital placement agents and fund advisory firms, having raised more than $130 billion for over 175 highly differentiated alternative investment funds and offerings. Founded in 1983, Eaton advises and raises institutional capital for investment managers across alternative strategies – private equity, private credit, real assets, real estate, and hedge funds/public market – in both the primary and secondary markets. Eaton Partners maintains offices and operates throughout North America, Europe, and Asia.
Eaton Partners is a division of Stifel, Nicolaus & Company, Incorporated, Member SIPC and NYSE. Eaton Partners subsidiary Eaton Partners (UK) LLP is authorized and regulated by the Financial Conduct Authority (FCA). Eaton Partners subsidiary Stifel Hong Kong Limited, doing business as Eaton Partners Hong Kong, is approved as a Type 1-licensed company under the Securities and Futures Commission (SFC) in Hong Kong. Eaton Partners and the Eaton Partners logo are trademarks of Eaton Partners, LLC, a limited liability company. ® Eaton Partners, 2022. For more information, please visit https://eaton-partners.com/.
About Allied Industrial Partners
Founded in 2019 by an experienced group of operating executives and investment professionals, Allied Industrial Partners LLC is an operationally focused lower-middle market private equity firm that thematically invests in high-growth companies within defensive industrial subsectors, including industrial services, niche manufacturing, value-added distribution, waste management, environmental services, and critical infrastructure services. AIP seeks to partner with experienced management teams that can benefit from its operational enhancement capabilities and its active, hands-on involvement, which allows the firm to execute on buy and build strategies. For more information, visit www.alliedindustrialpartners.com.
About Stifel
Stifel Financial Corp. (NYSE: SF) is a financial services holding company headquartered in St. Louis, Missouri, that conducts its banking, securities, and financial services business through several wholly owned subsidiaries. Stifel’s broker-dealer clients are served in the United States through Stifel, Nicolaus & Company, Incorporated, including its Eaton Partners business division; Keefe, Bruyette & Woods, Inc.; Miller Buckfire & Co., LLC and Century Securities Associates, Inc. The Company’s broker-dealer affiliates provide securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, professional money managers, businesses, and municipalities. Stifel Bank and Stifel Bank & Trust offer a full range of consumer and commercial lending solutions. Stifel Trust Company, N.A. and Stifel Trust Company Delaware, N.A. offer trust and related services. To learn more about Stifel, please visit the Company’s website at www.stifel.com. For global disclosures, please visit https://www.stifel.com/investor-relations/press-releases.
Media Contacts
Neil Shapiro, +1 (212) 271-3447
shapiron@stifel.com
Jeff Preis, +1 (212) 271-3749
preisj@stifel.com
Credit: Source link
