BGL announces the recapitalization of Keter Environmental Services by TPG Growth

Brown Gibbons Lang & Co. (BGL), Cleveland, has announced that Keter Environmental Services Inc. has received a significant investment by San Francisco-based TPG Growth, the middle-market and growth equity platform of alternative asset firm TPG. BGL’s Environmental & Industrial Services investment banking team served as the exclusive financial advisor to Keter in the transaction. The specific terms of the transaction were not disclosed.

Founded in 2011, Keter is a full-service, asset-light waste and recycling management services provider based in Stamford, Connecticut, that delivers technology-enabled waste, recycling and sustainability programs for multilocation customers across the U.S.

According to BGL, “The company’s technology platform and value proposition enable consistent and reliable waste management services on a national scale, as well as real-time sustainability and operational efficiency metrics for its targeted REIT [real estate investment trust], industrial and health care customers. Keter’s distinct technology and service model is supported with an expansive coverage area of smart compactors and container-monitoring hardware that provide accurate, real-time data to customers and support Keter in maximizing service quality and efficiency.”

BGL notes that Keter’s proprietary technology includes a portal that aggregates financial and operating data that provides customers with insight into program performance to help companies achieve their sustainability goals. To date, Keter has aided customers in recycling 700 thousand tons, increasing landfill capacity by 23 million cubic yards and avoiding more than 5 million pounds of greenhouse gas emissions.