Pittsburgh, PA (November 13, 2023) – Tecum Capital (“Tecum”) is pleased to announce its investment in Hainesport Transportation Group, LLC (“HTG”, “Hainesport”, or “The Company”). Tecum partnered with Dickson Suit and Environmental Services Investors (“ESI”) for the minority recapitalization of HTG. Founded in 2004 HTG is a vertically integrated waste company operating through the following divisions: (i) Champion Disposal, which provides roll off services; (ii) HIRR, a rail-served transfer station; (iii) Creekside, a C&D landfill in Toledo, OH; and (iv) R&B Debris, an asset-light waste logistics operation. HTG is strongly positioned within the densely populated Northeast U.S. region.
Tecum is the lead institutional investor and provided growth capital, subordinated debt and equity for the transaction. Dickson Suit and ESI led the transaction and co-invested with Tecum, and Comerica provided the senior debt. Moving forward, Dickson will work in tandem with Darryl Caplan, HTG CEO, on strategic initiatives and will serve on the Board.
“We built the HTG platform from the ground up and I can’t think of better partners than Dickson, Tecum, and Comerica to help us achieve the next phase of our company’s growth,” comments Darryl Caplan. “We have ambitious growth plans for HTG, and we are extremely fortunate to have capital partners who are in lockstep with HTG’s strategic vision. The synergies with other Tecum portfolio companies and Dickson’s relationships have already made a tremendous difference in facilitating our growth objectives.”
Dickson comments, “Darryl and the HTG team have done an incredible job putting the chess pieces together to build the HTG platform. These chess pieces put the Company in an enviable position and my job is to work with Darryl and Tecum to execute on many exciting initiatives.” Dickson added, “I sought out Tecum to partner with them in my first independent sponsor deal given that I have successfully worked with Tecum in the past, coupled with their strong experience and investment track-record in the environmental services sector.”
Matt Harnett, Partner at Tecum stated, “We’re extremely excited to be backing Darryl and the HTG team and with our partnership with Dickson, a veteran investor with a strong network in this industry.” Husnain Safdar, Vice President at Tecum added, “The business is extremely compelling given its rail-served, vertically integrated operations and stands to benefit from organic growth opportunities with tight air space capacity in the Northeast. HTG is our fifth investment in the environmental services sector and has compelling synergies with some of our other platforms in the space.”
Stephen Gurgovits, Jr., Managing Partner at Tecum, comments, “Our investment in HTG further builds upon Tecum’s experience investing in waste and environmental service businesses. We are excited to support HTG through its next growth chapter.”
Matt Harnett, Husnain Safdar, Carter Henderson, and Justin Uhlenbrock led the investment at Tecum. Hogan Lovells was counsel for HTG. Dentons Cohen & Grigsby was counsel for Tecum. Bodman PLC was counsel for Comerica.
About Hainesport Transportation Group
HTG, based in Hainesport, NJ, is a leading vertically integrated waste logistics conglomerate, providing cradle to grave disposal solutions for C&D waste via its roll-off hauling and collection services, C&D transfer station, federally chartered short rail, and rail-served landfill. For more information, please visit www.thehtg.com.
About Tecum Capital
Tecum Capital is a Pittsburgh, Pennsylvania-based private investment firm deploying capital in lower middle-market companies. Tecum provides mezzanine debt and equity investments in growth-oriented middle-market companies across the broader environmental/industrial services, high-value manufacturing, value-added distribution, and business services sectors. Our team partners with independent sponsors, family offices, committed funds, business owners seeking succession plans, and management teams to create shared success. Tecum manages two Small Business Investment Company (“SBIC”) licensed funds and is currently investing out of Tecum Capital Partners III, L.P, a $305 million fund launched in September 2021. Since 2006, the team has collectively invested more than $1 billion in over 160 platforms and add-on acquisitions. For more information, please visit www.tecum.com.
About Environmental Services Investors
ESI was founded by Dickson Suit in June 2023 to invest exclusively in environmental services companies. Dickson is an industry veteran in the environmental services industry with over 25 years of private equity investing experience. ESI considers investments in privately held waste, recycling, and related companies with revenue of $10+ million and EBITDA of $3-$10 million that are seeking majority or minority recapitalizations, acquisition and growth capital, family wealth transfers, and succession planning, among others. For more information, Dickson could be reached at DicksonSuit@gmail.com or 860.888.7309.