CenterOak Partners Exits Shamrock Environmental

Transaction Represents the Sale of the Final Investment from CenterOak Fund I

DALLAS--(BUSINESS WIRE)--CenterOak Partners LLC ("CenterOak"), a Dallas-based private equity firm, and its affiliate CenterOak Equity Fund I (“Fund I”), today announced the exit of Shamrock Environmental (“Shamrock” or the “Company”) in a transaction with a subsidiary of Republic Services, Inc. (NYSE: RSG). The transaction represents the eighth and final sale out of Fund I, a 2016 vintage buyout fund. Terms of the transaction were not disclosed.

Founded in 1994 and headquartered in Browns Summit, North Carolina, Shamrock is a leading vertically integrated provider of industrial waste and wastewater treatment services. The Company operates six permitted Centralized Wastewater Treatment facilities and several solidification sites. Through a strategically positioned network of operating locations, a talented team of approximately 300 employees, and an extensive fleet of Company-owned tankers and vacuum trucks, Shamrock collects and transports recurring liquid waste for a highly diverse and attractive commercial and industrial customer base across more than 20 states.

“Alongside management, CenterOak built a scaled provider of wastewater and waste processing services covering growing markets located on the East Coast from Florida to Pennsylvania,” said Jason Sutherland, Managing Partner of CenterOak. “Over five years working with the Company, Revenue and EBITDA grew significantly due to investments that more than quadrupled permitted capacity to provide non-discretionary, mission-critical services. As the first institutional investor in this closely held business, we were able to achieve our goals, and we believe Shamrock has a strong opportunity for continued growth under new ownership.”

Houlihan Lokey served as lead financial advisor to Shamrock, with Brown Gibbons Lang & Company serving as a co-advisor. Gibson, Dunn & Crutcher LLP served as legal counsel to the Company.

About Shamrock Environmental

Shamrock Environmental is a leading provider of essential environmental services, including non-hazardous wastewater treatment, waste services, and industrial services. Leveraging the company’s footprint of Centralized Wastewater Treatment facilities, solidification sites and fleet of tankers and vacuum trucks, Shamrock provides mission-critical services to customers in diverse end markets across more than 20 states. For more information, please visit www.shamrockenviro.com

About CenterOak Partners LLC

CenterOak Partners LLC is a Dallas, Texas based private equity firm managing $2.5 billion of equity capital commitments with a focus on making control-oriented investments in middle market companies. The Firm invests in Business Services, Industrial Services and Consumer Services. CenterOak has a history of creating significant value through organizational development, operational improvements, and transformational growth. For additional information, please visit www.centeroakpartners.com