Ironwood Capital announced an exit from its debt and minority equity investment in American Residuals Group, the holding company of Denali Water Solutions, which was sold to TPG Growth, the middle market and growth equity platform of alternative asset firm TPG. Denali is a provider of specialty waste and environmental recycling and disposal services in the United States, performing daily organic waste collection, processing, recycling and disposal for municipal, industrial food processing and downstream industrial customers.
"The Denali management team did an excellent job executing on its investment thesis and growing its network," said Ironwood Capital Managing Director Dickson Suit in a statement. "Denali provides important recycling solutions that contribute to more sustainable disposal of organic waste. We are proud to have been a part of the company's growth."
"We have now partnered with 12 environmental services-related companies and look forward to continuing to grow our presence in this important market," said Carolyn Galiette, president and chief investment officer at Ironwood Capital, in a statement.