Apollo, a prominent investment firm has announced the completion of the acquisition of the Accent Family of Companies through its affiliated funds. The acquired companies include Accent Wire-Tie, Accent Wire-Tie United Kingdom, and Accent Building Materials. Accent is a key player in the distribution and manufacturing of baling wires and wire-tier machines, essential components used in the recycling and waste management industries in the United States, Canada, and the United Kingdom.
Additionally, Accent Building Materials, a part of the Accent Family of Companies, operates as a regional wholesale distributor of building materials, serving customers across the Sun Belt region in the U.S. The transaction involves Apollo’s affiliates acquiring a majority interest in Accent, while the existing investor Crossplane Capital and the Sims family (founders of Accent) will retain a minority stake in the Company. The specific financial terms of the deal were not disclosed.
Accent, headquartered in Tomball, Texas, holds a crucial role in the recycling and waste management value chain by providing essential products, equipment, and services that facilitate the cost-effective, efficient, and safe transportation of recycled materials. Through its offerings, Accent contributes to the reduction of both landfilled waste and emissions. The recycling and waste industries exhibit resilience across economic cycles and align with sustainable trends driven by corporate sustainability initiatives, legislative actions, and growing consumer preference for environmentally conscious products and packaging.
Joanna Reiss, Partner and Co-Head of Impact at Apollo, expressed the firm’s belief in Accent’s significance within the recycling industry and its growth potential. She highlighted Apollo’s commitment to supporting the expansion of Accent on a global scale, contributing to sustainable recycling practices and decreasing waste and emissions in local communities.
Bill Sims, CEO of Accent, shared his excitement about the partnership with Apollo and the opportunities it presents for global expansion. He acknowledged Apollo’s dedication to driving a more sustainable future and expressed gratitude for Crossplane’s support over the past four years.
The transaction reflects Apollo’s Impact platform, which aims to make investments that create positive social and environmental impact while generating attractive risk-adjusted returns. The Impact platform is led by Joanna Reiss and Marc Becker and builds upon Apollo’s longstanding engagement in sustainability issues.
Apollo was advised in the transaction by legal firms Paul, Weiss, Rifkind, Wharton & Garrison LLP, and Latham & Watkins LLP, as well as professional services firm PwC and the Bridgespan Group.
