Bain Capital Double Impact, the impact investing strategy of Bain Capital, has acquired Living Earth Technology. Living Earth is the largest commercial recycler of organic landscaping materials in Texas, diverting waste from landfills that would otherwise release harmful greenhouse gasses. Financial terms of the private investment were not disclosed.
Deval Patrick, Managing Director at Bain Capital Double Impact. commented “We believe there are attractive opportunities to expand Living Earth’s reach given their approach to reducing landfill waste and doing so in a more energy and resource efficient way.
Founded in 1985 in Houston, Texas and headquartered in Dallas, Living Earth is the largest recycler of green material in Texas. Living Earth collects organic waste that would ordinarily go to landfills and processes it into mulch or soil, which it sells to landscapers, nurseries, retailers and homeowners. Organic waste that is landfilled releases methane, a harmful greenhouse gas. By recycling this waste, Living Earth preserves landfill space and contributes to reduced greenhouse gas emissions.
“The Living Earth team is very pleased to partner with Bain Capital Double Impact, and we believe that the team’s financial and operational strength will help us reach our potential,” said Mark Rose, President of Living Earth. “This investment will support our accelerated growth into new markets and allow us to expand our product and service offerings and our municipal and retail partnerships.” SJF Ventures, which invests in high-growth companies creating a healthier, smarter and cleaner future, also participated in the investment.