The Action Environmental Group’s Merger with Apex Environmental Resources Holdings

Sheppard, Mullin, Richter & Hampton LLP represented Littlejohn in the transaction.

Interstate Waste Services, Inc. (“IWS”) and Littlejohn & Co., LLC (“Littlejohn”), a private investment firm based in Greenwich, CT, announced the merger of The Action Environmental Group, Inc. and Apex Environmental Resources Holdings II LLC (“Apex”). The combined company will operate under the Interstate Waste Services brand. Littlejohn led the equity financing to facilitate the transaction.

IWS is the largest privately-held, vertically-integrated provider of solid waste collection, transfer, recycling and disposal services serving the greater New York City and Northern New Jersey markets. IWS operates nearly 400 collection vehicles throughout the five boroughs of New York City, Northern and Central New Jersey, and Orange and Rockland County, New York; a network of 22 transfer and transload facilities; and a rail-served solid waste landfill in Amsterdam, Ohio.

Summer Street Capital Partners LLC, an original investor in IWS, and Prophet Equity, the majority investor in Apex, and management are maintaining significant equity interests in the business. O-Corp Investments, LLC participated in the equity financing alongside Littlejohn.

GSO Capital Partners, the credit investment arm of Blackstone, led the debt financing. Longtime IWS lending partners, Comerica Bank and Brightwood Capital, also participated in the debt financing. Stifel acted as sole placement agent in connection with the equity and debt financing to support the transaction. Houlihan Lokey, Inc. acted as Littlejohn’s financial advisor.

The Sheppard Mullin team was led by New York partner Shon Glusky (Picture) and included attorneys across several offices, including Amanda Ackerman, Ehi Borha, David Rostowsky, Carol Archer, Matt Silverstein, Marko Valentine, Gail Suchman, Jim Ritter, Keren Baruch, Michael Weisshar, Sean Kirby, Dmitriy Chelnitsky, Brian Egan, Michael Chan, James Hays, David Chidlaw, Michael Leake, Jamie Moelis, Leo Caseria, Keith Gercken and Robert Hough.

Involved fees earner: Matthew Silverman – Cooley LLP; Amanda Ackerman – Sheppard Mullin; Carol Archer Boboris – Sheppard Mullin; Keren Baruch – Sheppard Mullin; Leo Caseria – Sheppard Mullin; Michael Chan – Sheppard Mullin; Dmitriy Chelnitsky – Sheppard Mullin; David Chidlaw – Sheppard Mullin; Brian Egan – Sheppard Mullin; Keith Gercken – Sheppard Mullin; Shon Glusky – Sheppard Mullin; James Hays – Sheppard Mullin; Robert Hough – Sheppard Mullin; Sean Kirby – Sheppard Mullin; Michael Leake – Sheppard Mullin; Jamie Moelis – Sheppard Mullin; James Ritter – Sheppard Mullin; David Rostowsky – Sheppard Mullin; Gail Suchman – Sheppard Mullin; Marko Valentine – Sheppard Mullin; Michael Weisshar – Sheppard Mullin;

Law Firms: Cooley LLP; Sheppard Mullin;

Clients: Littlejohn & Co. LLC;

Author: Ambrogio Visconti