CHICAGO, IL - January 27, 2006 – WHI
Capital Partners, a Chicago-based private equity firm targeting
investments in the smaller end of the middle market, is pleased to
announce the completion of its acquisition of two waste services
companies to create Waste Recyclers Holdings, the leading construction
and demolition (“C&D”) waste services provider in Northwest Florida.
Waste Recyclers was formed through the
acquisition of two existing waste services companies, Big Wheel of
Florida & Waste Recyclers of North Florida that service the Florida
Panhandle. The Florida Panhandle region is experiencing strong
population growth which has resulted in extensive residential and
commercial real estate development. Waste Recyclers is poised to take
advantage of this growth and the opportunities in its service territory
which include a number of high-growth residential areas as well as
expanding military facilities. In combining the two companies
acquired, Waste Recyclers becomes the clear market leader in terms of
C&D landfills, owning 5 active landfill sites in the area, as well
as a hauling fleet of more than 50 trucks and a portable toilet rental
and servicing business.
Adam Schecter, Managing Partner of WHI
Capital Partners commented: “We are excited about the opportunity to
build a leading regional waste services platform in a dynamic and
growing marketplace. In completing the transaction, we were fortunate
to team up with an extremely seasoned waste services management team to
execute on our growth plan.” WHI Capital Partners joined forces with
waste services industry veteran Bart Begley who will serve as Waste
Recyclers’ CEO. “Bart is the perfect executive for us to partner with
on this investment,” added Mr. Schecter. “He understands the
operations and complexities of the waste business and, in particular,
maximizing use of the company’s assets while meeting the needs of
customers and the regulatory agencies.”
Bart Begley, Waste Recyclers’ CEO
added, “This is an outstanding and unique opportunity to build a
leading regional waste services company with a partner that has the
financial flexibility and operational experience to support our
continued growth in the future. I am looking forward to building this
business together.”
About WHI Capital Partners
WHI Capital Partners is a private
equity firm that invests in profitable, mid-size companies with leading
market positions and revenues of $10 - 100 million. WHI principals have
significant experience and demonstrated success - not only as owners
and managers of closely-held businesses, but also as investors in and
advisors to middle market companies. Backed by the financial strength
of its parent firm William Harris Investors, WHI Capital Partners has
ample resources and the financial strength to help a company capitalize
on its opportunities over the long-haul.
For more information, contact Adam Schecter at (312) 624-0641 or adams@whicapital.com.