Stella Environmental, a portfolio company of Hidden Harbor Capital Partners, has acquired Rackleff Enterprises. Hidden Harbor acquired Stella Environmental, a municipal solid waste company, from Action Resources in August 2017.
Rackleff Enterprises operates seven municipal solid waste transfer stations in the southeast. The company was founded in 2004 and is based 55 miles northwest of Savannah in Statesboro, GA (no website found).
Stella Environmental is a provider of municipal solid waste transfer station management and transportation services in the Texas and southwestern US market. Transfer station management is the loading and transportation of tractor-trailer loads of waste from in-town processing facilities to remote landfills. Stella processes more than 230,000 tons of waste material each month, dispatching over 10,000 loads throughout its operating network.
Stella previously operated as Sprint Logistics but its name was changed to Stella Environmental when Aperion Management and Ocean Avenue Capital Partners acquired the business in February 2012 (they sold Stella to Action Resources in June 2015). Today, the company is led by its CEO Wilfred Roth and is based in Houston (www.stellaenv.com).
The buy of Rackleff expands Stella’s geographic footprint, diversifies its customer base, and builds its existing facility management, hauling, and loading capabilities. “This acquisition strengthens our position in the transfer station management industry by expanding our reach and deepening our capabilities. Rackleff’s operational expertise and commitment to its customers align strongly with Stella’s core values, and its leadership position in the southeast will help drive our continued growth,” said Mr. Roth.
“Rackleff has developed a great relationship with the Stella team over the past couple years, and we are excited to join such a strong, well-respected company,” said Kevin Rackleff, President of Rackleff. “Joining a larger platform will allow us to pursue additional growth opportunities and gain operational efficiencies while continuing to exceed our customers’ expectations.”
Hidden Harbor makes investments in US-based companies with revenues between $50 million and $500 million and EBITDA from $5 million to $25 million. Sectors of interest include industrials, transportation and logistics, business services, and consumer products. The firm is based in Boca Raton (www.hh-cp.com).
© 2017 Private Equity Professional | October 9, 2017
