TPG Makes Significant Investment in Keter Environmental Services

STAMFORD, Conn. & FORT WORTH, Texas & SAN FRANCISCO--(BUSINESS WIRE)--TPG Growth, the middle market and growth equity platform of alternative asset firm TPG, today announced that it has completed a significant investment in Keter Environmental Services (“Keter”), a full-service recycling and waste management company focused on providing first-class sustainable recycling and waste programs. Financial terms of the transaction were not disclosed.

Over the past two decades, Keter has grown into a leading provider of outsourced full-service recycling and waste management services in the United States. Through its high-quality and tech-enabled offerings, the company now helps more than 500 locations across 46 states manage their waste more efficiently and sustainably.

“Partnering with TPG will allow us to broaden our service offerings, solidify our ability to continuously improve recycling and waste programs, and maximize our potential and results in the world of sustainability and ESG,” said Steven Schlussel, CEO of Keter. “The team at TPG is not only fully aligned with our mission, but also has a proven track record of partnering with leading business services companies to accelerate their growth. They are deeply experienced operators and business builders across sectors, including those we are growing into. We look forward to leveraging their expertise to expand our offering, better-serve our existing clients, and welcome new clients to our platform.”

Keter is the largest provider of recycling and waste services to the real estate investment trust (REIT) industry and has steadily built a growing presence across several industrial end markets, including food processing, medical device manufacturing, auto assembly, and engineered components, and through its proprietary software and digital platform, the company provides real-time recycling and waste reporting.

“A market leading provider of outsourced waste managed services, Keter supports mission-critical daily waste collection and disposal through its complete turnkey solutions,” said BJ Loessberg, Principal at TPG Growth. “At a time when real-time reporting is increasingly valued and required by corporate decision makers, Keter continues to deliver economic, environmental, and societal value by turning clients’ recycling and waste problems into unified solutions. We are thrilled to invest behind the Keter brand and partner with Steve and his team to build on the company’s momentum by enhancing its go-to-market strategy, strengthening its salesforce, and expanding its offerings through strategic acquisitions.”

TPG Growth has a long history of partnering with leading business services companies. The investment in Keter represents TPG Growth’s second investment in the environmental waste management sector following its acquisition of Denali Water Solutions, a market-leading provider of specialty waste and environmental recycling and disposal services, in 2020.

About Keter Environmental Services:

Keter Environmental Services is a full-service recycling and waste management company focused on providing first-class sustainable recycling and waste programs on a national footprint. Keter works with forward-thinking companies who understand that increasing landfill diversion rates, improving operational efficiency, and leveraging technology for purposes of data and reporting is crucial to an effective and sustainable business strategy. Keter approaches every opportunity with the knowledge that each company they work with is unique in its waste streams, needs, goals, and challenges. For more information, please visit www.Keteres.com.

About TPG Growth:

TPG Growth is the middle market and growth equity investment platform of TPG, the global alternative asset firm. With approximately $13.7 billion of assets under management, TPG Growth targets investments in a broad range of industries and geographies. TPG Growth has the deep sector knowledge, operational resources, and global experience to drive value creation, and help companies reach their full potential. The platform is backed by the resources of TPG, which has approximately $108 billion of assets under management. For more information, please visit www.tpg.com or on Twitter @TPG.