New York – Global investment firm the Carlyle Group has agreed to sell waste tire recovery company Liberty Tire Recycling to ECP, an investor 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, Carlyle Group announced 1 April. Financial details of the transaction were not disclosed.
Operating in North America, Liberty has a network of more than 25 processing plants and offers “flexible collection service” nationwide.
The company recovers more than 190 million tires per year from the waste stream, recycling approximately three billion pounds of rubber annually, according to the Carlyle Group statement.
New York-based Carlyle Group acquired Liberty in December 2017.