TORONTO, April 01, 2026 (GLOBE NEWSWIRE) -- Clairvest Group Inc. (TSX: CVG) ("CVG"), today announced that it, together with Clairvest Equity Partners VI ("CEP VI", collectively "Clairvest"), and the equity holders of Star Waste Systems, LLC ("Star Waste" or the "Company") have sold their interests in Star Waste to Casella Waste Systems, Inc.
Star Waste is a leading independent provider of solid waste collection, processing and recycling services to commercial, residential, and roll-off customers in the Greater Boston Area. The Company also operates a construction and demolition material recovery facility and a commercial solid waste transfer station located north of Boston.
In July 2022, Clairvest partnered with Patsy Sperduto, Founder & CEO of Star Waste, to help accelerate the growth trajectory of the business. Over the last four years, the Company has completed eight acquisitions, grown revenue by over 3.0x, and has become a strategically significant waste management platform in the Greater Boston market.
Upon closing, CVG's portion of sale proceeds was approximately US$38 million and the sale has a positive impact on CVG's book value of approximately $2.00 per share over the carrying value as at December 31, 2025. This marks Clairvest's eighth successful realization in the environmental services sector.
"We are proud of what Patsy and the Star Waste team have built over the past several years. Having known Patsy for more than a decade, we had great conviction in his vision and his ability to grow Star Waste into a leading independent solid waste platform in New England. Together, we helped accelerate the Company's growth and strengthen its strategic position, and we are pleased to have achieved an outcome that reflects the value created. We look forward to seeing Star Waste continue to thrive as part of Casella," said Michael Castellarin, Managing Director at Clairvest.
"I chose to partner with Clairvest because of their integrity and their track record of collaborative partnership with entrepreneurs like me. They were instrumental in our success, bringing relevant experience, analytical and strategic support, valuable industry relationships and access to capital. I am grateful for their trust and partnership, and I am very proud of what we accomplished together. This transaction with Casella is an exciting next chapter for Star Waste and our employees," said Patsy Sperduto, Founder & CEO of Star Waste.
Star Waste was advised by Stifel, Nicolaus & Company, Incorporated as exclusive financial advisor.
About Clairvest
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$4.5 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 69 different platform companies and generated top quartile performance over an extended period.
Contact Information
Stephanie Lo
Director of Investor Relations and Marketing
Clairvest Group Inc.
Tel: (416) 925-9270
stephaniel@clairvest.com
