Will support DTG's merger and acquisition activity, as well as helping develop new recycling technologies and end markets for recovered materials.
MILL CREEK, WA, USA, October 23, 2020 /EINPresswire.com/ — DTG Recycle (“DTG” or “the Company”), a leading solid waste hauling and recycling company with operations concentrated in the greater Seattle-Tacoma area of Washington State, announced today the recent closing of a new credit facility with Comerica Bank. The Company focuses on the collection, recycling, and beneficial re-use of material from commercial, construction, and industrial customers. The credit facility is configured to support DTG’s active M&A activity and further advance the work of DTG’s Innovation Group that is developing new recycling technologies and end-markets for recovered materials. Comerica Bank’s dedicated environmental services practice, one of the largest environmental lenders in the United States, now includes DTG among its client relationships in the sector.
In January 2020, DTG partnered with Clairvest Group, a private equity firm that has a 14-year investment track record in the environmental services industry, to continue DTG’s impressive expansion.
“DTG is on its path to becoming the leading independent, diversified environmental services company in the Pacific Northwest, and potentially beyond. We are thrilled with our new relationship with Comerica Bank to provide the capital needed to support our active M&A pipeline and our Innovation Group as we strive to create a zero-waste future through novel technologies”, said Tom Vaughn, CEO of DTG.
"DTG is investing in exciting new initiatives that offer sustainable waste solutions to the marketplace, and we are delighted to support their continued path paving the way for rapid growth and innovation," said Joe Ursuy, Comerica Bank Senior Vice President, Environmental Services Department Manager. "We are also pleased to collaborate once again with Clairvest Group as a financial partner backing DTG’s success.”
DTG Recycle is the largest commercial recycler of construction, demolition, industrial, and manufacturing waste in the Pacific Northwest. Vertically integrated from the collection, transportation, processing, and manufacturing of innovative end products from recovered commodities, they strive for a zero-waste future. With nearly 300 employees, over 1,000 roll-off and recycling containers, and nine material recovery facilities, DTG Recycle offers convenient, innovative ways to recycle with the industry's best customer service. DTG Recycle is Customer Focused – Planet Obsessed. Learn more at https://www.dtgrecycle.com/
About Comerica Bank
Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Commercial Bank, The Retail Bank, and Wealth Management. Comerica focuses on relationships and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida, and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. Comerica reported total assets of $83.6 billion on Sept. 30, 2020.
About Clairvest Group
Clairvest’s mission is to partner with entrepreneurs to help them build strategically significant businesses. Founded in 1987 by a group of successful Canadian entrepreneurs, Clairvest is a top-performing private equity management firm with over CAD $2.4 billion of capital under management. Clairvest invests its own capital, and that of third parties through the Clairvest Equity Partners limited partnerships, in owner-led businesses. Under the current management team, Clairvest has initiated investments in 54 different platform companies and generated top quartile performance over an extended period.
Director, Investor Relations and Marketing
Clairvest Group Inc.
Tel: (416) 925-9270
Fax: (416) 925-5753
Joseph G. Ursuy
SVP & Department Manager
Environmental Services Department
Tel: (313) 222-3483
Fax: (313) 961-1477
Corporate Communications – Michigan Market
Tel: (313) 222-3694
Source: EIN Presswire