ECP’s Acquisition of Liberty Tire Recycling

Kirkland & Ellis advised ECP, while Latham & Watkins advised Liberty Tire Recycling on the deal.

ECP, an investor with a decades-long reputation in the environmental and sustainable solutions sector, completed the purchase of Liberty Tire Recycling from global investment firm The Carlyle Group (NASDAQ: CG). The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2021.

ECP, founded in 2005, is a leading investor across energy transition and decarbonization infrastructure assets, including power generation, renewables and storage solutions, sustainability-linked infrastructure and customer solutions facilitating the energy transition.

Liberty is the premier provider of tire recycling services in North America. With a network of more than 25 processing plants and flexible collection service offerings nationwide, the company saves more than 190 million tires per year from the waste stream, recycling approximately three billion pounds of rubber for innovative, sustainable materials and products. 

The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Investment Solutions. 

The Kirkland team advising ECP was led by corporate partner Bill Benitez (Picture) and associates Brice Lipman and Benjamin Rowe; debt finance partners Lucas Spivey and Jordan Roberts; tax partner Mark Dundon; and environmental transactions partners Paul Tanaka and Michael Saretsky.

Latham & Watkins LLP represented Liberty in the transaction, with a corporate deal team led by Washington, D.C. partners David Dantzic and Victoria VanStekelenburg, with associates Ryan Zumwalt, Faisal Amin, and CJ Harrington II. Advice was also provided on tax matters by New York partner David Raab, with associate Michael Yu; on benefits and compensation matters by Washington, D.C. partner David Della Rocca, with associate Kirk Porter; on environmental matters by Washington, D.C. partner James Barrett, with associate Peter Viola; on real estate matters by New York counsel Shira Bressler; and on antitrust matters by Washington, D.C. partner Marc Williamson, Bay Area partner Kelly Fayne, and Washington, D.C. counsel Peter Todaro, with associate Doug Tifft.

Involved fees earner: William Benitez – Kirkland & Ellis; Mark Dundon – Kirkland & Ellis; Brice Lipman – Kirkland & Ellis; Jordan Roberts – Kirkland & Ellis; Benjamin Rowe – Kirkland & Ellis; Michael Saretsky – Kirkland & Ellis; Lucas Spivey – Kirkland & Ellis; Paul Tanaka – Kirkland & Ellis; Faisal Amin – Latham & Watkins; James Barrett – Latham & Watkins; Shira Bressler – Latham & Watkins; David Dantzic – Latham & Watkins; David Della Rocca – Latham & Watkins; Claude Harrington II – Latham & Watkins; Kirk Porter – Latham & Watkins; David Raab – Latham & Watkins; Kelly Smith Fayne – Latham & Watkins; Doug Tifft – Latham & Watkins; Peter Todaro – Latham & Watkins; Victoria VanStekelenburg – Latham & Watkins; Peter Viola – Latham & Watkins; Marcellus Williamson – Latham & Watkins; Michael Yu – Latham & Watkins; Ryan Zumwalt – Latham & Watkins;

Law Firms: Kirkland & Ellis; Latham & Watkins;

Clients: Emerging Capital Partners LLC; Liberty Tire Recycling;

Author: Martina Bellini