Boxwood Partners Kicks off 2023 with Successful Deal in Waste & Recycling Industry
Leading Mid-Market Investment Bank Advises on Sale of PTR Baler & Compactor Company to Komar
JUPITER, FL – (February 6, 2023) – Boxwood Partners, a trusted M&A advisor, announces its involvement in another successful closed deal. PTR Baler and Compactor Company (“PTR”), a leading waste and recycling equipment manufacturer, technology innovator and national service provider for vertical balers, stationary compactors, self-contained compactors and related equipment was acquired by Komar Industries (“Komar”), a portfolio company of Toronto-based private equity firm, ONCAP. Komar is a leading designer and manufacturer of industrial waste and recycling processing systems.
Boxwood Partners served as the exclusive sell-side advisor in the transaction, which was led by Managing Partner, Patrick Galleher, Managing Director, Brian Alas, Director, Robbie Nickle, along with Analyst, Drew Frank. The terms of the deal were not disclosed.
“We are ecstatic to partner with Komar Industries to produce an unrivaled brand of quality equipment and service. It is great to find a company who shares our commitment to manufacture high quality products combined with outstanding service to our customers,” said Mike Savage, PTR’s CEO and President.
Komar and PTR see tremendous value in leveraging their combined engineering and technological capabilities to drive further innovation within the waste and recycling industry.
“Since day one, the Boxwood team brought focus, commitment, and incredible knowledge to our process,” Savage added. “We could not have selected a better team to bring our transaction full circle. We appreciated their intensity and experience which helped produce a successful outcome for all of us.”
This deal builds on Boxwood Partners’ strong presence in the waste, recycling and environmental services industries and follows the firm’s impressive 2022, which included 12 closed deals and team expansion to keep up with continued activity and consistent demand for their trusted advisory services.
J. Patrick Galleher, Managing Partner of Boxwood Partners, noted, “The best part of our role in these types of transactions is seeing all the involved parties walk away with mutually-beneficial desired outcomes. We know that Komar’s investment will amplify PTR’s brand impact, and strengthen the value and services available to customers.”
About Boxwood Partners
Boxwood Partners, LLC is a boutique investment bank based in Jupiter, Florida with offices in Richmond, Virginia. Boxwood Partners combines a unique blend of senior-level transaction advisory, business operating experience, and proven process execution skills to give its clients a distinct advantage in the market. The firm’s extensive relationships within the global capital and buyer communities (including U.S. and international private equity groups, corporations, and lenders) and other important transaction-related service providers such as consultants, attorneys, and accountants, ensure that the firm’s clients receive the attention, service, and results they deserve. For more information about Boxwood Partners, please visit www.boxwoodpartners.com.
About PTR
Headquartered in Philadelphia, Pennsylvania, PTR was originally founded in 1907 as a manufacturer of monorails and meat track systems for the food industry. Bob Riethmiller changed the direction of the company in 1968 by building its first baler and today PTR specializes in the design and manufacture of balers, stationary compactors, and self-contained compactors serving a diversified base of blue-chip customers. In just the last 30 years, PTR has produced and sold upwards of 60,000 balers & compactors across the United States.
About Komar
Headquartered in Groveport, OH, Komar is a leading designer and manufacturer of industrial waste and recycling processing systems. Komar specializes in auger processing technology and provides a comprehensive portfolio of products, including compactors (auger, self-contained, and stationary), balers (vertical and horizontal), industrial shredders, continuous feed systems, flatteners / dewatering systems and organic separation presses. Established in 1977, Komar’s products enable its customers to improve their processing of waste streams (e.g., corrugate, wood, e-waste, organics) while reducing their carbon footprint and their transportation, energy, maintenance, and labor costs.
About ONCAP
ONCAP is the mid-market private equity platform of Onex. In partnership with company management teams, ONCAP invests in and builds value in North American headquartered small and medium-sized businesses with scalable, sustainable competitive positions.
