Sydney, Australia, December 23, 2021 – The Silverfern Group, an investment management firm making direct investments in middle market private equity globally, today announced that it has successfully exited its investment in Waste Services Group following the sale of the Company to Livingbridge, a leading mid-market private equity investor.
Waste Services Group (‘WSG’), is a customer focused provider of waste management solutions for Australian businesses through two key offerings. Managed Services – where WSG supports customers with complex waste needs to optimize their waste solutions, and Collections – where WSG provides customer focused waste collection and disposal solutions direct to customers. Silverfern invested in WSG in 2016 in partnership with The Riverside Company.
Following completion of the exit, Silverfern Managing Director Mark Baldassarre commented “The Waste Services investment demonstrates Silverfern’s proven investment strategy. We worked closely with WSG Management to support WSG as it focused on superior customer service and grew its business strongly both organically and through acquisitions. We are proud of Waste Service Group’s achievements during our ownership and we look forward to witnessing its future success.”
About Waste Services Group
Waste Services Group provides diversified waste collection services to the Australian commercial and industrial sectors, utilizing front-lift waste removal trucks to collect customer waste streams and providing national broker and account management services for commercial and industrial customers with multi-site and complex waste collection requirements. The Company targets a diverse customer base and benefits from unique and extensive relationships with Australia’s Small-to-Medium Enterprise (‘SME’) customers – who place a large emphasis on customer service as a key differentiator. Waste Services Group undertakes a flexible and scalable asset light strategy that enables it to focus on account servicing while applying an optimal mix of Company fleet and subcontractors to service its customers.
Silverfern is a global middle-market investment management firm. From its offices in Greenwich, Frankfurt and Sydney, its experienced, cohesive team of senior investment professionals makes investments in global middle-market private equity. Targeting $25 million to $50 million equity per investment in partnership with qualified local investment partners, whom we select for their specific industry knowledge and local market experience, Silverfern seeks to invest in buyouts, build-ups, acquisitions, growth equity and recapitalizations worldwide. Silverfern’s investment strategy seeks to mitigate systemic risk in its portfolio by opportunistically pursuing attractive risk-adjusted returns on a global basis, while at the same time seeking to manage local/market risk through its strategy to partner with qualified local investment partners on each of its investments. Additional information is available at www.silfern.com
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