Eaton Partners acts as exclusive placement agent and financial advisor to Allied Industrial Partners
ROWAYTON, Connecticut, July 07 12, 2022 (GLOBE NEWSWIRE) — Eaton Partners (“Eaton”), one of the largest placement agents and financial advisory firms and a wholly owned subsidiary of Stifel Financial Corp. (NYSE: SF), is pleased to announce that it has acted as exclusive financial advisor and placement agent for Allied Industrial Partners LLC (“AIP”), a middle-market private equity firm focused on the industry based in Houston, Texas. Eaton worked with AIP to raise capital from a group of limited partners to acquire a majority stake in Waste Eliminator, as part of a buy-and-build strategy.
AIP was founded in 2019 by a group of seasoned operating executives and investment professionals led by Bradford Rossi and Philip Wright. The team’s strategy focuses on partnering with family businesses that generate consistent cash flow and defensible market positions that would benefit from additional operational expertise. Eaton also served as the exclusive placement agent and financial advisor for the acquisition of CES Power by AIP in July 2021.
Waste Eliminator was founded in 2005 by Wes Turner as a service-oriented construction and demolition waste management company focused on metro Atlanta. The company maintains a permanent position as a market leader that provides essential turnkey waste management and recycling solutions for large commercial customers and operates a well-maintained fleet of logistics and container assets as well as recovery of strategically located materials. AIP has completed two add-on acquisitions for Waste Eliminator, which are expected to nearly double the size of the platform by the end of 2022.
“Congratulations to the AIP team on another terrific fundraising,” said Peter Martenson, Managing Director, GP Advisory, Secondaries, and Directs at Eaton Partners. “Waste Eliminator represents a substantial opportunity to leverage AIP’s already successful approach to hands-on investing in high-growth businesses where the company can implement value-added operational initiatives.”
“Waste Eliminator is a market leader in the waste management space and this capital raise represents the best possible outcome for a buy-and-build strategy,” said Bradford Rossi, co-founder and managing partner at AIP. “Thank you to the Eaton team for advising us on another successful fundraising, which resulted in a strong institutional investor base that enabled us to secure two follow-on acquisitions during the due diligence process, including the ‘one that we were able to conclude during the first 90 days.”
In addition to advising on and executing GP-led secondary transactions, Eaton’s GP Advisory, Secondaries & Directs group focuses on supporting GPs through its direct capital raising services. Over the past two years, Eaton has advised general practitioners and corporations on more than $2.5 billion in secondary and direct investment transactions.
About Eaton Partners
Eaton Partners, a Stifel company, is one of the world’s largest investment dealers and fund advisory firms, having raised more than $130 billion for more than 175 highly differentiated funds and alternative investment offerings. Founded in 1983, Eaton advises and raises institutional capital for investment managers in alternative strategies – private equity, private credit, real assets, real estate and hedge funds/public market – in the primary and secondary markets. Eaton Partners has offices and operates throughout North America, Europe and Asia.
Eaton Partners is a division of Stifel, Nicolaus & Company, Incorporated, Member SIPC and NYSE. Eaton Partners (UK) LLP, a subsidiary of Eaton Partners, is authorized and regulated by the Financial Conduct Authority (FCA). Eaton Partners’ subsidiary, Stifel Hong Kong Limited, trading as Eaton Partners Hong Kong, is approved as a Type 1 Approved Company by the Hong Kong Securities and Futures Commission (SFC). Eaton Partners and the Eaton Partners logo are trademarks of Eaton Partners, LLC, a limited liability company. ® Eaton Partners, 2022. For more information, visit https://eaton-partners.com/.
About Allied Industry Partners
Founded in 2019 by an experienced group of operating executives and investment professionals, Allied Industrial Partners LLC is an operations-focused, lower-middle-market private equity firm that thematically invests in high-growth companies. within defensive industrial subsectors, including industrial services, niche manufacturing, value-added distribution, waste management, environmental services and critical infrastructure services. AIP seeks to partner with experienced management teams who can benefit from its operational improvement capabilities and active, hands-on involvement, which enables the company to execute buy-and-build strategies. For more information, visit www.alliedindustrialpartners.com.
Stifel Financial Corp. (NYSE: SF) is a financial services holding company headquartered in St. Louis, Missouri, which conducts its banking, securities and financial services businesses through several wholly owned subsidiaries. Stifel’s brokerage clients are served in the United States through Stifel, Nicolaus & Company, Incorporated, including its trading division Eaton Partners; Keefe, Bruyette & Woods, Inc.; Miller Buckfire & Co., LLC and Century Securities Associates, Inc. The firm’s affiliate broker-dealers provide securities brokerage, investment banking, trading, investment advisory and related financial services to individual investors , professional fund managers, corporations and municipalities. Stifel Bank and Stifel Bank & Trust offer a full range of personal and corporate lending solutions. Stifel Trust Company, NA and Stifel Trust Company Delaware, NA provide trust and related services. To learn more about Stifel, please visit the company’s website at www.stifel.com. For global disclosures, please visit https://www.stifel.com/investor-relations/press-releases.
Neil Shapiro, +1 (212) 271-3447
Jeff Preis, +1 (212) 271-3749