Columbia Pacific Business Finance (CPBF), a fully capitalized fund providing direct financing to emerging growth and middle market companies, announced it has provided a $9.5 million term loan to CGL Holdings, owner of Chicago Grade Landfill in San Luis Obispo County, California.
CGL Holdings will utilize the funds provided by CPBF to refinance existing debt on the non-hazardous municipal waste landfill and recycle center and distribute proceeds to parent company Allos Environmental. “The Chicago Grade Landfill has been serving the surrounding area for five decades, and we expect its business fundamentals to remain strong well into the future,” said Trent Stedman, managing director of CPBF. “We are pleased to support CGL, parent company Allos Environmental, and their equity partner Twin Focus.”
The 188-acre site is located 3 miles east of Atascadero, 12 miles south of Paso Robles, and 20 miles north of San Luis Obispo. It accepts waste directly from the City of Atascadero as well as third-party garbage collectors, commercial haulers, and residents within San Luis Obispo County. “We are pleased to have a reliable lending partner in Columbia Pacific Business Finance. CPBF offered a creative alternative that allowed Allos to achieve key objectives at both CGL and the parent company,” said Dan Waldrip, CEO of Allos Environmental.
Ogden, Utah-based Allos Environmental, the parent company of CGL Holdings, is an environmental landfill and infrastructure company formed in 2016. Twin Focus, headquartered in Boston, advises family office clients on $7 billion in assets globally.