Clairvest Makes Equity Investment in DTG Recycle

DTG Recycle, a large commercial recycler of construction, demolition, industrial and manufacturing waste in the Pacific Northwest, announced a $32 million minority equity investment led by Clairvest Group Inc., together with Clairvest Equity Partners V (CEP V), in partnership with DTG’s existing shareholders.

Clairvest is a private equity management firm that invests its own capital, and that of third parties through the Clairvest Equity Partners limited partnerships, in businesses with potential to generate superior returns. Clairvest’s mission is to partner with entrepreneurs to help them build strategically significant businesses. Dan Guimont, DTG’s founder and president, and Tom Vaughn, the company's CEO, are partnering with Clairvest to continue DTG’s expansion. Clairvest’s stake in DTG builds on its 14-year investment track record in the environmental services industry.

“Clairvest’s partnership-focused investment style is the right fit for me and my team,” said Guimont in a statement. “DTG is about to embark on our next bold chapter of growth, and we are excited to have the support of investors with deep experience in building great companies. Clairvest’s understanding of our business and the environmental services industry makes them a great addition to our team as we further enable our clients to meet their sustainability goals by expanding into new service lines, such as the commercialization of products from recycled materials.” 

“We are excited to back the talented management team at DTG,” said Adrian Pasricha, Partner at Clairvest Group, in a statement. “We have been impressed by the company’s commanding market position and its ability to deliver innovative and sustainable waste solutions to customers. We look forward to supporting Dan, Tom and the team to advance DTG’s ambitious growth plan. We are confident DTG will become a leading integrated waste management and recycling company in the Pacific Northwest.”

This investment from Clairvest will continue to fuel DTG’s rapid growth. In 2019, DTG acquired the Anderson Rock & Demolition Pits limited purpose landfill in Yakima, Wash., acquired the Recovery 1 materials recovery facility (MRF) in Tacoma, Wash., and opened two new MRFs in the Seattle-Tacoma region. DTG is Clairvest’s 55th platform investment and the 11th investment by CEP V. The Clairvest/CEP V co-investment pool is capitalized at $600 million and focuses on equity investments in growth companies.