Spring Lane Capital Congratulates Atlas Organics, One of the Firm's Inaugural Investments, on New Financing
Key Financing Milestone for Atlas Also Illustrates Spring Lane Capital's Catalytic Capital Model
BOSTON and MONTREAL, January 13, 2022 (Newswire.com) - Spring Lane Capital, a private equity firm focused on providing catalytic project capital for sustainability solutions in the energy, food, water, waste and transportation industries, congratulates Atlas Organics, a developer and operator of commercial composting solutions based in the U.S. Southeast and one of Spring Lane Capital's inaugural investments, on its recently announced expansion financing. This transaction also marks Spring Lane Capital Fund I's full exit of Atlas Organics, including both corporate equity and project investments.
"We believe there are billions of traditional project finance dollars waiting to be unlocked to flow into compelling climate solutions, once strong platform companies, such as Atlas, are ready to deploy them at scale," said Nikhil Garg, Partner and Co-Founder of Spring Lane Capital. "Our 'catalytic project capital' approach combines project equity for small-scale systems and projects, along with additional growth capital to support the teams that we partner with at the corporate level. This unique model is designed to help teams like Atlas not only obtain the capital they need for their growth, but also provide them with the expertise and assistance to position them for future expansion, in many cases via subsequent partnerships with traditional project finance investors. So, we are very pleased for Joseph McMillin and the entire Atlas team on achieving this important milestone."
"Spring Lane Capital was instrumental in helping Atlas Organics grow from a small Venture-backed company to a multi-state organics recycling platform in a period of 24 months through their decentralized approach to capital deployment in sustainable infrastructure. Not only did Spring Lane Capital provide capital but also development expertise that allowed our personnel to grow professionally along with the company. I cannot say enough about Nikhil and the team at Spring Lane and their help in growing Atlas Organics into the company that it is today," said Joseph McMillin, CEO Atlas Organics.
Spring Lane Capital publicly announced its investment in Atlas Organics in December 2019 for its inaugural fund which raised $157 million. In addition to Atlas, the firm has announced additional investment partnerships with platform companies including Aries Clean Energy, Cambrian Innovation, 7 Generation Capital, and Vandalia Growers. In November 2021, Spring Lane Capital announced a first close of approximately $151 million for its second private fund, which is targeted at $400 million in total capital. The fund seeks to back entrepreneurs and project developers across sustainable infrastructure sectors including food & ag, energy, water, waste and transportation.
About Spring Lane Capital:
Spring Lane Capital is a private equity firm based in Boston, MA, and Montreal, QC, focused on providing catalytic project capital for sustainability solutions in the energy, food, water, waste and transportation industries. The firm's structured financial model seeks to tap into some of the fastest-growing segments of these markets, that more traditional forms of project capital cannot access due to their scale and the limitations of existing investment models. For more information, please visit springlanecapital.com.
Source: Spring Lane Capital