Adanac Recovery has been acquired by Lab One Capital
Relay Transition Partners is pleased to announce that Adanac Recovery Ltd. and affiliated entities (“Adanac Recovery” or the “Company”) has been acquired by Lab One Capital, who partnered with Company management to complete the transaction.
Adanac Recovery is the largest beverage container recycling operation on Vancouver Island, and one of the largest in British Columbia. Having been part of the local community for over 25 years, the Company provides significant environmental, economic and social benefits to the region including diverting over 10,000 metric tonnes of recyclable material from the waste stream annually and enabling meaningful fundraising opportunities for not-for-profit and charitable organizations.
Relay Transition Partners acted as financial advisor to Adanac Recovery.
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Adanac Recovery was founded in 1995 and operates three Return-It Depot facilities in the Greater Victoria area. Adanac also has an industrial, commercial and institutional division which picks up, sorts and processes recyclable beverage containers from commercial businesses, schools, hospitals, multi-family residential developments and community groups. The company processes over 125 million containers annually.
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Lab One Capital is a non-traditional micro-cap private equity firm that specializes in acquiring family-held companies in Western Canada. Lab One invests, builds, and holds assets permanently to create significant wealth and a lasting impact on the lives of its partners, employees, and the surrounding community.