Kirkland & Ellis advised ECP, an investor with a decades-long reputation in the environmental and sustainable solutions sector, on the purchase of Liberty Tire Recycling from global investment firm The Carlyle Group (NASDAQ: CG). The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2021. Liberty is the premier provider of tire recycling services in North America. With a network of more than 25 processing plants and flexible collection service offerings nationwide, the company saves more than 190 million tires per year from the waste stream, recycling approximately three billion pounds of rubber for innovative, sustainable materials and products.
The Kirkland team was led by corporate partner Bill Benitez and associates Brice Lipman and Benjamin Rowe; debt finance partners Lucas Spivey and Jordan Roberts; tax partner Mark Dundon; and environmental transactions partners Paul Tanaka and Michael Saretsky.