Tecum Capital invests in Hainesport Transportation Group

Pittsburgh-based Tecum Capital has invested in Hainesport Transportation Group LLC (HTC), a Hainesport, New Jersey-based vertically integrated waste logistics conglomerate providing disposal solutions for construction and demolition (C&D) debris via its roll-off hauling and collection services, transfer station, federally chartered short railroad and rail-served landfill serving the Northeast region of the U.S.

Tecum partnered with Dickson Suit and Environmental Services Investors, or ESI, for the minority recapitalization of HTG. 

Founded in 2004, HTG operates through four divisions: roll-off services provider Champion Disposal, rail-served transfer station HIRR, a Toledo, Ohio-based C&D landfill known as Creekside Landfill and an asset-light waste logistics operation called R&B Debris.

According to a news release issued by Tecum, it was the lead institutional investor and provided growth capital, subordinated debt and equity for the transaction. Dickson Suit and ESI led the transaction and co-invested with Tecum, and Comerica provided the senior debt. Moving forward Suit will work in tandem with HTG CEO Darryl Caplan on strategic initiatives and will serve on the company’s board.

“We built the HTG platform from the ground up, and I can’t think of better partners than Dickson, Tecum and Comerica to help us achieve the next phase of our company’s growth,” Caplan says. “We have ambitious growth plans for HTG, and we are extremely fortunate to have capital partners who are in lockstep with HTG’s strategic vision. The synergies with other Tecum portfolio companies and Dickson’s relationships have already made a tremendous difference in facilitating our growth objectives.”

“Darryl and the HTG team have done an incredible job putting the chess pieces together to build the HTG platform,” Suit says. “These chess pieces put the company in an enviable position, and my job is to work with Darryl and Tecum to execute on many exciting initiatives.

“I sought out Tecum to partner with them in my first independent sponsor deal given that I have successfully worked with Tecum in the past, coupled with their strong experience and investment track record in the environmental services sector,” he continues.

Suit formerly was with Ironwood Capital, based in Avon, Connecticut, before leaving earlier this year to pursue environmental investment opportunities independently with private and institutional investors.

“We’re extremely excited to be backing Darryl and the HTG team and with our partnership with Dickson, a veteran investor with a strong network in this industry," says Matt Harnett, partner at Tecum.

“The business is extremely compelling given its rail-served, vertically integrated operations and stands to benefit from organic growth opportunities with tight air space capacity in the Northeast,” Tecum Vice President Husnain Safdar adds. “HTG is our fifth investment in the environmental services sector and has compelling synergies with some of our other platforms in the space.”

Harnett, Safdar, Carter Henderson and Justin Uhlenbrock led the investment at Tecum.  Hogan Lovells was counsel for HTG. Dentons Cohen & Grigsby was counsel for Tecum. Bodman PLC was counsel for Comerica.