New York-based Apollo, an alternative asset manager, recently announced that Apollo-managed funds have purchased a majority stake in Pittsburgh-based Noble Environmental, a vertically integrated waste management platform.
“Since inception, Noble Environmental’s goal has been to build a leading waste management business that delivers for the communities we serve while creating lasting value through disciplined operations and strategic growth,” David Florance, Noble Environmental president and chief operating officer, said. “Apollo shares that vision, and their experience and resources will be invaluable as we continue to execute on our vision to grow the business.”
Noble Environmental provides waste management in the Northeast, Mid-Atlantic and Midwest and operates a portfolio of renewable natural gas facilities at its landfill gas generating solid waste disposal locations.
“Noble Environmental has built a differentiated platform in one of the most attractive waste markets in the country,” Scott Browning and Brad Fierstein, Apollo partners, said. “The combination of scarce, permitted landfill assets, a fully integrated service offering and a growing RNG business creates a compelling foundation for long-term value creation. Apollo has a long history of investing in essential service businesses, and we look forward to partnering with the Company’s management team to expand Noble Environmental’s platform and build on its strong foundation.”