Oct 20, 2022

Northborne Transaction Announcement | LJP Waste Solutions Acquired by Nonantum Capital Partners

MINNEAPOLIS, MN - October 20, 2022 – Northborne Partners is pleased to announce that it served as financial advisor to LJP Waste Solutions (“LJP”) in connection with its recent acquisition by Nonantum Capital Partners (“Nonantum”) from Aperion Management. LJP is a leading regional provider of non-hazardous solid waste and recycling services that specializes in zero landfill and waste-to-energy solutions.

Founded in 1993 and headquartered in North Mankato, Minnesota, LJP provides innovative and sustainable disposal solutions, working directly with customers to conduct waste evaluations and determine waste streams that can be recycled or converted to fuel using waste-to-energy methods. In recent years, the company's experienced management team has expanded its geographic footprint by servicing additional customer locations and making strategic acquisitions in the Midwest and has become a leading regional provider of non-hazardous solid waste and recycling services that specializes in zero landfill and waste-to-energy solutions.

Nonantum is a Boston-based middle-market private equity firm focused on investing in family and founder owned businesses. Given Nonantum's industry experience and successful track record of acquiring, growing, and scaling businesses, the firm became the partner of choice for LJP's management team.

Ben Marks, Managing Director at Northborne Partners, commented, “We’re delighted to have been involved in this important transaction for LJP, and look forward to seeing the business continue to grow under Nonantum’s ownership.”

Northborne is the leading middle market investment bank representing sellers of infrastructure businesses In North America. The transaction is the seventh infrastructure deal completed by Northborne in 2022. In aggregate, the transactions represent over $2.0 billion in transaction value.

About Northborne Partners

Northborne Partners is a preeminent middle market investment banking firm focused on providing M&A advisory services to companies in the food & consumer, healthcare, industrials and business services. It focuses on advising private-equity and closely held businesses on complex sell-side transaction. Northborne Partners is headquartered in Minneapolis, MN. For more information, please visit www.northborne.com.

About LJP Waste Solutions

LJP Waste Solutions is a leading zero landfill environmental services company serving the Upper Midwest. The company provides a wide range of environmental services including full-service commercial and residential waste, recycling and waste-to-energy methods. LJP is a trusted partner to a diverse base of commercial and industrial clients, ranging from Fortune 100 companies to small businesses throughout the Midwest. LJP owns and operates three transfer stations that process source separated industrial waste, municipal solid waste, and recyclables and plays an integral role in the waste-to-energy industry. For more information, please visit www.ljpwastesolutions.com.

About Aperion Management

Founded in 2006, Aperion Management is a private equity firm that focuses on investing in small to mid-size businesses with solid fundamentals and attractive growth prospects and valued between $15 million and $250 million. Aperion seeks to work in close partnership with talented management teams to identify key business drivers and unlock opportunities for value creation and growth. Aperion has been a lead investor on nine platform investments across a broad range of industries and end markets, representing over $400 million in both enterprise value and revenue. In addition, the principals of Aperion have participated in the acquisitions of more than thirty middle-market companies with an aggregate value in excess of $2.0 billion. For more information, please visit www.aperionmgt.com.

About Nonantum Capital Partners

Founded in 2018 by a team of experienced private equity and management executives as a spin-out from Charlesbank Capital Partners, Nonantum is a Boston-based middle-market private equity firm. Nonantum focuses on investing in family and founder-owned businesses, corporate carve-outs, and complex situations where personal partnership is critical and opportunities exist for significant equity value creation. For more information, please visit www.nonantumcapital.com.

Website includes transactions completed by Northborne professionals at prior firms.

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