3i Group plc (3i) and EC Waste’s management team announced that it closed a majority investment in the company. The operations of the largest vertically integrated provider of solid waste services in Puerto Rico will remain unaffected by the transaction.
Randy Jensen, EC Waste President and CEO commented, “we look forward to working with 3i to further position EC Waste as the leading, sustainable solid waste services provider in Puerto Rico. With its long-term investment horizon, 3i is the ideal partner as we look to expand our operations in support of the island’s environmental and sustainability goals. In addition, having our management team as part of the group of shareholders confirms everyone’s commitment to sustainable and environmentally friendly solid waste management practices in the communities where we work and live”.
With locations throughout Puerto Rico, EC Waste provides multiple waste services to over 80,000 residential, commercial, and industrial customers. The company operates four well-located US EPA compliant disposal sites that enable EC Waste to serve all of Puerto Rico in an environmentally sensitive manner. Additionally, it manages two transfer stations, runs the ‘island’s largest solid waste collections network and hosts what will be Puerto ‘Rico’s largest renewable natural gas collection project at its El Coqui facility in Humacao.
Rob Collins, Managing Partner of 3i North America Infrastructure, commented, “EC Waste has a proven track record of providing top-tier services to the communities it operates across the island. We are delighted to welcome management investment and support management in growing the company’s sustainable waste practices, including an expansion of its compliant disposal operations and renewable natural gas collection activities”.
EC Waste has enough capacity to serve the entire ‘island’s needs for decades ahead as communities and businesses consider moving away from non-compliant providers and towards permitted fully compliant waste disposal options. Additionally, the company has made significant investments in its infrastructure and operations technology to improve performance and position it for future growth.