GREENWICH, Conn., Aug. 7, 2014 /PRNewswire/ -- Littlejohn
& Co., LLC, a private investment firm based in Greenwich, CT, today announced that it has
signed a definitive agreement with Compass Diversified
Holdings (NYSE: CODI) for the sale of Clean Earth, a provider of
essential and cost-effective landfill avoidance solutions.
The deal is expected to close in the third quarter.
Clean Earth is one of the largest processors of contaminated
soil, dredge sediments, hazardous and non-hazardous soils on the
East Coast. Headquartered in Hatboro,
PA, the Company provides solutions for facilities-based
treatment, disposal and beneficial re-use of soil, dredge and other
non-hazardous materials and handles over three million tons of
material annually from New York
down to Florida through a network
of 12 full-service soil facilities.
David Simon, Managing Director of
Littlejohn & Co., said, "We would like to thank Chris Dods for
his leadership as CEO and the way he repositioned the company over
the past several years. He and Clean Earth's broad senior
management team expanded the Company's permitted capabilities and
demonstrated a consistent ability to complete strategic
acquisitions all while maintaining the Company's stellar reputation
for quality environmental stewardship."
Mr. Dods, Chief Executive Officer, said, "As a result of the
unwavering commitment of the Company's leadership team, its
employees, and our financial sponsor, we have built Clean Earth
into a provider of turnkey solutions for customers across all
commercial, industrial, and energy industries and have developed a
reputation for completing projects on time and within budget.
We continue to have room for growth and we look forward to
implementing new initiatives with our partners at Compass that will
ensure continued provision of outstanding service for our
customers' treatment, recycling, disposal, and transportation
needs."
Houlihan Lokey is acting as
financial advisor and Morrison Cohen is acting as legal advisor to
the Company.
About Littlejohn & Co., LLC
Littlejohn & Co. is a Greenwich,
Connecticut-based private equity firm investing in
middle-market companies facing the opportunities and challenges
that come with significant change. The firm is currently
investing from Littlejohn Fund V, L.P., which has $2 billion in capital commitments. For more
information, visit www.littlejohnllc.com.
Contact: Chris Tofalli
Chris Tofalli Public Relations, LLC
914-834-4334
SOURCE Littlejohn & Co., LLC