Case studies are for illustrative purposes only and are not meant to be used for investment purposes.

 

“My partners and I were looking for growth financing that would enable us to increase our route density and to acquire strategic disposal assets that would vertically integrate the company's operations. Summer Street was a great solution.”

Frank Celli, Former CEO of Interstate Waste Services

Case Studies

Interstate Waste Services
Industry: Environmental Services
Transaction type: Growth financing

Situation

Frank Celli, Mike DiBella and the IWS senior management team were looking for financing to support their company's growth, and a trusted partner who could bring the strategic resources they needed to execute their aggressive plan.

Why Summer Street?

Frank and Mike needed a partner who could bring the financial and organizational resources they knew they would need to support their ambitious growth plans.  Summer Street's Brian D'Amico appreciated the value of the IWS team's deep industry expertise, and offered the support they were looking for to help close acquisitions quickly, and to integrate them smoothly into the company's operations.

How have we helped?

Summer Street and management worked together to develop a Value Creation Plan that included a strategy to vertically integrate operations through specific targeted acquisitions.  Summer Street helped IWS to implement their strategy, using goal-oriented accountability measures and a broad incentive compensation plan that ensured that the management team would participate in the value generated when they accomplished their plan.

IWS successfully completed five significant and accretive acquisitions, integrating both collection and disposal assets into the existing operations.  Summer Street made a second investment to support the acquisition of a large competitor, growing the company into the dominant private collection operation in the region. 

The team achieved their plan to vertically integrate operations, capturing significant additional margin and insulating the core collection business from rising disposal costs.  Summer Street and its management partners sold IWS to the portfolio company of a middle market private equity fund in 2006.  Management chose to stay with the company, continuing to grow the operation under new ownership. 

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This website is intended solely to provide information regarding Summer Street Capital Partners’ potential financing capabilities for prospective portfolio companies. The information provided on this website, including information regarding Summer Street Capital Partners and current and historical portfolio companies, is not intended to recommend any company or investment described herein and is not an offer or sale of any security or investment product or investment advice. In any event, past performance is not a guarantee of future results, and it should not be assumed that results for current or historical portfolio investments will be achieved for other investments. Representative investments are not to be considered a complete list of all investments made or currently held by Summer Street Capital Partners’ funds. Summer Street Capital Partners provides investment advisory services only to the privately offered Summer Street Capital Partners funds. Summer Street Capital Partners neither solicits nor makes its services available to the public or other advisory clients.