Alston Capital Partners has led the recapitalization of Battery Solutions, a provider of battery recycling services. Alston partnered with the company’s founder, Chris Sova, to recapitalize the company and provide capital for growth.
Battery Solutions is a provider of battery recycling services to consumers, corporations, government entities, and municipalities located throughout the United States. Services include environmental and regulatory compliance, documentation, safety, logistics, reporting, and waste conversion. The company is based in Howell, MI (www.batteryrecycling.com).
In conjunction with the recapitalization, Michael Profit has joined the senior management team of Battery Solutions as Chief Executive Officer. Prior to joining Battery Solutions, Mr. Profit was the Chief Executive Officer of Intechra Group, a front end provider of end of life information technology asset management and electronics recycling services which was sold to Arrow Electronics.
“Battery Solutions is a high growth company that is an industry leader in all forms of battery collection and recycling. I look forward to working with the management team and the principals of Alston to continue to build the business and enhance its market position,” said Mr. Profit.
Alston Capital Partners is a private equity firm focused on the environmental and specialty manufacturing sectors in the lower middle market. Targeted investments will have revenues of between $10 million and $150 million and a minimum of $3 million of EBITDA. The Alston team is composed of investors and operators who have worked together for many years, principally at JPMorgan Partners. The firm is based in New York (www.alstoncapital.com).
“Battery Solutions offered the opportunity to back a proven management team and invest in a market leader positioned for significant growth. The company fits Alston’s investment model which is focused on companies in the environmental sector whose products and services address long term macro trends, including; increasing population, depletion of natural resources, and increasing accumulation of waste,” said Robert Egan, Founding Partner of Alston.
© 2013 PEPD • Private Equity’s Leading News Magazine • 1-16-13