Terramont Infrastructure Partners (“Terramont”), a North American middle-market infrastructure investment firm, today announced that it has acquired a majority interest in Hainesport Transportation Group (“HTG” or the “Company”), a vertically integrated provider of waste collection, transfer, processing and disposal services with strategic waste-by-rail infrastructure.
Founded in 2004 by Darryl Caplan, Todd Sage and Ronald Bridges, and headquartered in Hainesport, New Jersey, HTG owns and operates a network of rail-served transfer and disposal assets, and a federally chartered short-line railroad. The Company primarily serves commercial and industrial customers across the Mid-Atlantic and Southeast through a short-line rail-served network that gives customers in capacity-constrained markets reliable access to lower-cost disposal capacity. As regional landfill capacity continues to tighten, the Company’s ability to consolidate waste for long-haul rail transport has become increasingly critical to the customers and communities it serves.
“We built HTG around a simple conviction: that rail is the most efficient, cost-effective and sustainable way to move waste out of markets that are running out of disposal capacity,” said Darryl Caplan, Co-Founder and Chief Executive Officer of HTG. “In Terramont we found a partner that shares that long-term vision and brings the capital and infrastructure expertise to help us scale it. Todd and I are looking forward to getting a lot more rail-served capacity in the ground alongside them, expanding our operational coverage to serve new customers.”
“HTG has built a hard-to-replicate network of permitted, rail-served assets, and an operating culture to match,” said Chris Pih, Partner at Terramont. “We have known Darryl, Todd and their team for several years, and we are excited to support them as they extend a proven playbook into new markets.”
“Essential infrastructure, delivered with operational excellence with service their customers can count on, is exactly where Terramont invests to build category leaders,” said Michael Lehman and Vikram Singh, Managing Partners at Terramont. “HTG’s short-line rail and transfer station assets are critical to the customers and communities they serve, and we look forward to partnering with this exceptional management team through the Company’s next phase of growth.”
Debt financing was provided by Fifth Third Bank. K&L Gates LLP served as legal counsel to Terramont, and Klehr Harrison Harvey Branzburg LLP served as legal counsel to HTG.
About Hainesport Transportation Group
Hainesport Transportation Group is a vertically integrated provider of waste collection, transfer, rail transport and disposal services. Headquartered in Hainesport, New Jersey and founded in 2004, HTG owns and operates a strategic network of rail-served transfer and disposal assets, and a federally chartered short-line railroad, enabling customers to move waste efficiently from markets constrained by disposal capacity to markets with abundant capacity. Learn more at thehtg.com.
About Terramont Infrastructure Partners
Terramont Infrastructure Partners is a North American, middle-market infrastructure investment firm investing in best-in-class businesses alongside high-caliber management teams. The firm focuses on companies critical to the economy across energy and power, transportation, environment, and digital infrastructure. Terramont operates from offices in New York and San Francisco. Learn more at www.terramontinfra.com.
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