NOVA Invests in Vertically Integrated Waste Platform
MID-MARKET INFRASTRUCTURE INVESTMENT FIRM ACQUIRES WASTE COMPANY IN AUSTIN, TEXAS
Austin, Texas (April 7, 2020) – NOVA Infrastructure announced today its investment in Integrated Waste Solutions Group, LLC (IWSG) (https://www.iwsgusa.com) via its managed funds. IWSG is an Austin-based waste management company, targeting vertically integrated waste opportunities that serve North America residential, commercial, and industrial solid waste markets.
IWSG acquired today the assets and operations of Central Texas Refuse, Inc. (https://centraltexasrefuse.com) and its affiliates (CTR). CTR is a highly respected full-service waste collection and recycling company serving Austin, TX and surrounding areas. The company is one of the largest independent waste collection service organizations in Central Texas.
IWSG has also entered into an agreement with Green Group Holdings, LLC (www.gghcorp.com) related to the 130 Environmental Park project (130EP), an environmentally friendly municipal solid waste (MSW) landfill in the Austin metropolitan area. 130EP is the holder of a Municipal Solid Waste (MSW) Permit for a Type I MSW Landfill Facility issued by the Texas Commission on Environmental Quality (TCEQ). Under the terms of the agreement, IWSG, through a subsidiary, will own, construct, and operate the 130EP facility. It is anticipated the construction of the disposal facility will start this spring and operations will commence in early 2021. When complete, the 130 EP project will include the landfill, a highly engineered facility for processing recyclable materials, and an industrial park. As part of the arrangement, GGH has made an investment in IWSG and NOVA, has Board representation in IWSG, and will be involved in the growth and development of IWSG in Central Texas and other potential markets.
“I’m proud to work with the leadership of CTR and the 130 Environmental Park project to launch this business model in Central Texas,” Charlie Appleby, Founder and Chairman of IWSG, said. “We are well funded, have strong and experienced management, and a fully integrated business model approach that we look forward to implementing.”
“We are excited to partner with Charlie Appleby, Green Group, Mike Lavengco, and the CTR and IWSG teams to provide essential infrastructure in the Austin market,” said Chris Beall, Founder and Managing Partner of NOVA Infrastructure. “We believe IWSG has the potential to be a very successful growth platform for NOVA.”