True West Leads $20 Million Investment in Eugene, Oregon-Based Bulk Handling Systems

PORTLAND, Ore., April 11, 2018 -- True West Capital Partners (True West), a provider of growth capital to middle-market companies in the Western U.S., led a $20 million junior capital investment in Eugene, Ore.-based Bulk Handling Systems (BHS). BHS will use the capital to pursue growth opportunities.  Los Angeles-based Caltius Structured Capital, which financed a management buyout of BHS in 2008 and is an equity owner of the company, co-invested in the financing.

BHS designs, manufactures and installs waste processing systems tailored to extract recyclables from the general waste stream. Its highly-automated waste processing equipment reduces landfilling by identifying and sorting recyclables from general waste objects picked up curbside, or from commercial or industrial byproducts. BHS recently launched Max-AI™, a robotic sorting system that uses artificial intelligence to select and sort specifically identified objects from the waste stream with 95 percent precision. The technology is recognized for dramatically improving the quality of materials generated at the sorting facility while also improving safety at material recovery facilities.

BHS has completed hundreds of installations in the past 10 years on five continents, including projects with many of the world’s most successful and automated systems.

“We look for companies in the Western U.S. with the desire to lead their industries through innovation, service and ingenuity,” said Steve Wilkins, managing director and co-founder of True West. “Bulk Handling Systems’ material handling equipment, NRT optimal sorting technology and NIHOT air separation technology have set the standard for material recovery facilities. These technologies, when combined with recent innovations such as Max-AI™ and Zero Waste, will enable waste haulers and material recovery facilities to meet new state and federally-mandated benchmarks for waste recovery across the globe. It is an important moment for governments, municipalities and waste management partners to see BHS’ performance, and for the company to be in a position for growth globally.”

“This investment comes at a time where we are projecting substantial growth due in large part to our launch of the Max-AI™ product,” said Steve Miller, CEO of BHS. “We see a zero waste future and have an increasing number of communities committed to that goal because their residents demand it.”

About True West Capital Partners
True West provides flexible junior capital to growing middle-market companies in the Western United States with revenues of $20 - $250 million and EBITDA of $3 – $25 million. Founded in 2009, True West is dedicated to building and maintaining long-term relationships with the management teams of its portfolio companies, its investors and its business community. For more information, visit www.truewestcp.com.  

Bulk Handling Systems (BHS)
Headquartered in Eugene, OR, BHS is a worldwide leader in the innovative design, engineering, manufacturing and installation of sorting systems and components for the solid waste, recycling, waste-to-energy, and construction and demolition industries. Wholly-owned subsidiaries include Nihot (Amsterdam), NRT (Nashville, TN) and Zero Waste Energy (Lafayette, CA). BHS is also the home of Max-AI™ technology, a breakthrough artificial intelligence that identifies materials, makes intelligent decisions and directs equipment such as robotic sorters. In addition to its waste processing equipment BHS designs, manufacturers and operates Zero Waste Energy facilities, which use anaerobic digestion to produce biogas from solid organic waste.  Zero Waste solves a critical step in reducing organic waste, which can represent up to 30 percent of waste picked up at curbside. Clients around the globe choose BHS because of its experience, dedication to cutting-edge technology, quality construction and durability, and unmatched customer service. BHS has built some of the largest and most durable MRFs in the world – and they are achieving the highest throughput, recovery, and purity rates in the industry. For more information visit www.bulkhandlingsystems.com.

About Caltius Structured Capital
Caltius Structured Capital provides owners of middle market companies throughout North America with capital solutions for liquidity events and growth opportunities. Caltius Structured Capital invests from $7 million to $50 million in companies with positive cash flow, designing flexible capital structures including subordinated debt, minority/structured equity and unitranches. Currently celebrating its 20^th anniversary and investing from its 5^th fund complex, Los Angeles-based Caltius Structured Capital has invested approximately $1.2 billion in 67 transactions since 1997. For more information, visit www.caltiusstructuredcapital.com.

True West media contact:
Sarah Robinson
Lew Leverenz Associates                                            
206-651-6022 mobile                                                     
[email protected]