10/14/2020 | Announcement
Ironwood Capital Announces Subordinated Debt and Preferred Equity Investments in Boston Carting Services, LLC
AVON, CONNECTICUT, October 14, 2020 – Ironwood Capital is pleased to announce subordinated debt and preferred equity investments in Boston Carting Services, LLC (BCS).
Headquartered in East Greenwich, Rhode Island, BCS provides non-hazardous solid waste and recycling collection services in the Greater Boston market. The company was founded by Patsy Sperduto, president and CEO, a 25-year waste industry veteran with a successful track record of growing solid waste companies organically and through M&A.
“We’re really excited about partnering with Patsy to build an environmental services platform in the fast-growing Greater Boston market,” said Dickson Suit, managing director, Ironwood Capital. “Ironwood has deep experience in the environmental services industry, completing more than a dozen platform investments to date.”
“BCS has tremendous potential and I’m once again thrilled to work with Dickson, the Ironwood team and Comerica Bank in this new venture with Patsy,” noted Jeff Kendall, BCS chairman of the board.
“Ironwood’s experience in the environmental services industry makes them an ideal partner to support our growth objectives,” stated Patsy Sperduto.
Comerica Bank provided the senior financing. With a dedicated team focused on environmental services, Comerica Bank is one of the largest environmental lenders in the United States.
About Ironwood Capital
Ironwood Capital is a Connecticut-based private equity firm that provides non-control growth capital to middle market companies, investing more than $750 million in over 135 companies since 2001. Ironwood invests in the form of subordinated debt and preferred stock in amounts ranging from $5 million to $25 million to support business owners and financial sponsors in growth financings, full and partial recapitalizations, generational transitions and buyouts. For more information, please visit www.ironwoodcap.com.
About Boston Carting Services
Founded in 2018, Boston Carting Services provides collection of non-hazardous solid waste and recycling material to the Greater Boston market. The company is headquartered in East Greenwich, Rhode Island and services routes via multiple truck yards within Boston. For more information, please visit www.jawdirect.com.
Contact:
Carolyn C. Galiette
President and Chief Investment Officer
Ironwood Capital
(860) 409-2105
galiette@ironwoodcap.com
Kathy Butler
Director of Marketing and Communications
Ironwood Capital
(860) 409-2117
butler@ironwoodcap.com
