ECP Buys Liberty Tire From Carlyle For $750 Million

Carlyle said it agreed to sell Liberty Tire Recycling LLC to infrastructure investor ECP, which people familiar with the matter said is paying roughly $750 million for the company.

The deal for the tire-recycling company reflects the continuing efforts by Summit, N.J.-based ECP—which recently changed its name from Energy Capital Partners—to capitalize on increased demand for businesses that help protect the environment, one of the people said.

The Carlyle Group is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Investment Solutions. Carlyle had as of September 30, 2020 $230billion of assets under management.

Source: Wall Street Journal