Houlihan Lokey Advises Leonard Green & Partners (1)

Houlihan Lokey is pleased to announce that Leonard Green & Partners LP (LGP) has acquired Stella Environmental Services, LLC (Stella), a portfolio company of Hidden Harbor Capital Partners (Hidden Harbor). The transaction closed on April 22, 2021.

Stella is a leading provider of fully outsourced transfer station management services to the municipal solid waste industry. Based in Houston, Texas, the company processes more than 7 million annual tons per year at its 65 transfer stations located across nine states. In addition to managing fully outsourced operations, Stella’s key services include waste loading at transfer stations, coordinating waste hauling from transfer stations to landfills, and providing on-site landfill services.

Hidden Harbor Capital Partners is an operationally focused private equity firm based in Fort Lauderdale, Florida, specializing in control investments in lower-middle-market companies. Hidden Harbor seeks companies in North America with up to $500 million in revenue with EBITDA up to $30 million.

Leonard Green & Partners LP, founded in 1989, is a leading private equity investment firm partnering with management teams and often with founders investing in market-leading companies. In the 32 years since inception, LGP has invested in over 100 companies in the form of traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. The firm’s primary focus is on service providers, which include consumer, business, and healthcare services along with retail, distribution, and industrials.

Houlihan Lokey served as the financial advisor to LGP in its acquisition of Stella. This transaction builds on Houlihan Lokey’s market-leading position in the environmental services sector and deep knowledge of the solid waste industry.