BNY Mellon Investment Management Boutique Provides Growth Capital to Environmental Services Sector
NEW YORK and LONDON, January 15, 2013 — BNY Mellon-Alcentra Mezzanine Partners, a division of Alcentra and part of BNY Mellon Investment Management, today announced that, on behalf of its clients, it invested $10 million to support Alston Capital Partners’ purchase of Battery Solutions Inc., a Howell, MI, battery recycling solutions provider. BNY Mellon-Alcentra Mezzanine Partners provides flexible capital, in the form of subordinated debt and equity, to support middle market companies throughout North America.
Battery Solutions helps companies recycle spent battery waste in an environmentally responsible and efficient manner that also meets compliance and legal requirements. The company designs and operates recycling programs and collection systems and provides for logistics, disassembly, chemistry identification, sorting, separation, processing, regulatory compliance, and documentation. The company operates in all 50 states and has developed flexible battery recycling solutions to handle all battery chemistries.
“We believe Battery Solutions is a high-growth company,” said Justin Kaplan, senior vice president of Alcentra. “We look forward to working with Alston Capital and the company’s management team to help the company better serve its customers and identify growth opportunities.” Alston Capital Partners is a private equity firm focused on the environmental and specialty manufacturing sectors in the lower middle market.
BNY Mellon-Alcentra Mezzanine Partners, a division of Alcentra NY, LLC based in New York, currently manages approximately $500 million of capital. BNY Mellon-Alcentra Mezzanine Partners invests in unitranche debt, mezzanine debt, and equity. Targeted sectors include healthcare and pharmaceutical services; defense, homeland security and government services; business and outsourced services. BNY Mellon-Alcentra Mezzanine Partners makes investments in transactions led by sponsors, fund-less sponsors or directly with entrepreneurs / business owners. Additional information is available at http://mezzanine.alcentra.com/.
Alcentra is an asset management and investment group focused on sub-investment grade debt capital markets in Europe and the United States. The group has an investment track record that dates back to 1998 and spans across 43 separate investment funds totaling approximately $22 billion. Alcentra is 97 percent owned by BNY Mellon and 3 percent owned by the employees. 'Alcentra' refers to both Alcentra Limited which is authorized and regulated by the Financial Services Authority and Alcentra NY, LLC. Assets under management include assets managed by both companies. More information can be found at www.alcentra.com.
BNY Mellon Investment Management is one of the world's leading investment management organizations and one of the top U.S. wealth managers, with $1.4 trillion in assets under management. It encompasses BNY Mellon’s affiliated investment management firms, wealth management services and global distribution companies. More information can be found at www.bnymellon.com.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $27.9 trillion in assets under custody and administration and $1.4 trillion in assets under management, services $11.6 trillion in outstanding debt and processes global payments averaging $1.4 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. Additional information is available on www.bnymellon.com or follow us on Twitter @BNYMellon.
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