The Carlyle Group, a global investment firm based in Washington, has announced that it has agreed to sell Pittsburgh-based Liberty Tire Recycling to ECP, an investor with a reputation in the environmental and sustainable solutions sector. The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2021.
Liberty, a tire recycling services provider, has a network of more than 25 processing plants and flexible collection service offerings nationwide. According to a news release from the Carlyle Group, Liberty saves more than 190 million tires per year from the waste stream, recycling approximately 3 billion pounds of rubber for sustainable materials and products. Carlyle Strategic Partners IV, an investment fund managed by Carlyle, led a recapitalization transaction to become the company’s majority equity sponsor in December 2017.
Source: Recycling Today