Clairvest Group Inc., its Clairvest Equity Partners IV LP fund and the management shareholders of County Waste LLC sold their entire stakes in the Virginia-based private regional solid waste collection company.

The sale of County Waste to GFL Environmental Inc. generated $46 million in proceeds to the private equity firm.

Clairvest and its fund recognized a 3.6x multiple of capital and a 30% internal rate of return on their $48 million investment at deal closing, excluding a deferred contingent milestone-based payment.

County Waste offers residential, commercial, industrial, and construction and demolition waste collection, disposal and recycling services in the Virginia and Pennsylvania regions.