Capstone Partners Advised Pioneer Recycling Services, LLC on Its Sale to Delos Capital and The Silverfern Group

Capstone Partners advised Pioneer Recycling Services, LLC, a portfolio company of Central Valley Fund, on its sale to Delos Capital and The Silverfern Group.

Pioneer, based in Tacoma, WA, is an industry leader in comingled residential and office recycling in the Pacific Northwest. Pioneer’s full-service recycling centers focus on providing reliable, environmentally friendly services and solutions for commercial, industrial, municipal, and residential customers.

The Capstone team took the time to gain a deep understanding of our value proposition which led to communicating a compelling investment opportunity for the buyer. They far exceeded our expectations on all fronts which resulted in getting the maximum value for our team.

Steve FrankCEO, Pioneer Recycling Services, LLC

Pioneer President Tommy Crenshaw said, “Pioneer is thrilled with our new partnership. We are confident that deploying Delos and Silverfern’s proven growth strategies will ensure long-term profitability for all stakeholders.”

Doug Usifer, Managing Director at Capstone, commented, “Pioneer is a world-class materials recovery facility (MRF) and a leader in the Waste & Recycling industry. The company’s unique business model and advanced sorting technology have driven proven commercial success while delivering a sustainable, environmentally friendly footprint. We were thrilled and honored to represent Pioneer and its entire management team in the transaction with Delos/Silverfern.”

Capstone’s Managing Director David Bench, also noted, “The Pioneer Recycling transaction caps off Capstone’s prior 2021 advisory work in waste hauling, landfill, and metals recycling. We expect a busy 2022 with robust interest from both sponsors and strategic players.”

“We are excited to partner with Silverfern and the management team of Pioneer, a best-in-class provider of sustainable recycling services,” commented Michael Rakiter, Partner at Delos Capital. “Since the company’s formation in 2014, the founders of Pioneer have consistently invested in state-of-the-art equipment and process innovation to provide the highest levels of service.”

Silverfern Managing Director Deepak Ghosh added, “Pioneer has demonstrated that the company is a leading provider of recycling services in the Pacific Northwest, and we are happy to partner with the management team to grow the company.”

Delos Capital is a lower-middle-market private equity firm specializing in management buyouts, recapitalizations, and growth investments. Headquartered in New York City, the firm concentrates largely in the Industrials, Chemicals, Packaging, and Consumer industries.

Silverfern is a global middle-market investment management firm that specializes in buyouts, build-ups, acquisitions, growth equity, and recapitalizations. From offices in Greenwich, Frankfurt, and Sydney, Silverfern’s senior investment professionals target companies with deep industry knowledge and local market experience.