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JACKSONVILLE, Fla., April 23, 2018 -- Warren Equity Partners, a lower middle market private equity fund, announced it has closed its acquisition of the solid waste subsidiaries of Meridian Waste Solutions, Inc. (“MRDN”). The acquired entities comprise MRDN’s integrated, non-hazardous solid waste services business, primarily operating in Missouri and Virginia. The acquired business will maintain and operate under the name Meridian Waste post-closing.
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“Warren Equity has a successful track record of investing in infrastructure service companies,” stated Steven Wacaster, Managing Partner at Warren Equity. “The acquisition represents an excellent opportunity for us to partner with management to build an industry-leading waste services platform through optimization of Meridian Waste’s existing assets, as well as through bolt-on acquisitions and organic growth. We are excited to back a nimble, customer-focused company with a world class leadership team.”
Meridian Waste will be led by industry leader Walter “Wally” Hall as CEO. Hall was one of three founding members of Advanced Disposal Services, Inc. (NYSE:ADSW), which grew to become the fourth largest solid waste company in the U.S. under his operational leadership from 2000 to 2014. During his tenure at ADSW, Hall led and implemented over 150 acquisitions, serviced over 800 municipal contracts and grew operations to over 3,000 collection vehicles, over 40 landfills, and a team of more than 5,000 waste professionals.
“We expect that our partnership with Warren Equity will be a growth catalyst for Meridian Waste. The transaction gives us access to capital that will allow us to continue to deliver superior service to our customers, while also providing a springboard into new markets,” said Hall. “I believe that, with this partnership, we can build a great company, and we have assembled a talented management team that can deliver on our potential.”
Meridian Waste currently services over 130,000 commercial, industrial and residential customers in two primary marketplaces: St. Louis, Mo. and Richmond, Va. The company’s assets include a fleet of commercial, residential and roll-off trucks, two transfer stations, one recycling facility and three municipal solid waste landfills. The business will continue to focus on maximizing financial value and service delivery within these two markets while pursuing growth opportunities that expand and enhance the operational footprint of the company in other marketplaces.
Henrik Dahlback, Partner and COO of Warren Equity, stated, “We have been impressed with the pedigree of Wally and the Meridian management team, as well as the hard work they have put into building the company. We look forward to many years of a successful partnership.”
The transaction is Warren Equity Partners’ ninth acquisition since its formation in mid-2015.
About Warren Equity Partners
Warren Equity Partners is a private equity firm that invests in small and middle market operating companies primarily in North America. The firm invests in established companies where additional capital and operating resources can accelerate growth, targeting companies in the industrial, infrastructure, and business services sectors. Warren Equity invests in the form of buyouts, growth equity, and recapitalizations. For more information, please visit www.warrenequity.com.
About Meridian Waste
Meridian Waste is a company defined by its commitment to servicing its customers with unwavering respect, fairness and care. The team is focused on finding and implementing solutions for the resource needs and challenges with a fundamental objective to seek rewarding environmental solutions through technology and innovation. The company’s waste services business is centered on residential and commercial waste collection and disposal. Currently, the company operates in St. Louis, Missouri, and Richmond, Virginia, servicing over 130,000 residential, commercial, industrial and governmental customers. In addition to a fleet of commercial, residential and roll-off trucks, the company operates two transfer stations, one recycling facility and three municipal solid waste landfills. For more information, visit www.MeridianWaste.com.
Media Contact:
Mary O’Brien
Meridian Waste
904-616-5322
[email protected]
A photo accompanying this announcement is available at http://resource.globenewswire.com/Resource/Download/61d45525-fa02-4ab8-8641-5bca912aee1a
