Wastequip, a North American manufacturer of waste equipment, announced it has signed a definitive agreement to be acquired by H.I.G. Capital, LLC, a global private equity investment firm. Wastequip has been owned by Centerbridge Partners, L.P. since 2012.
“We want to thank Centerbridge Partners for their invaluable partnership over the last five years,” said Marty Bryant, chief executive officer of Wastequip. “Centerbridge’s support has been instrumental in strengthening Wastequip’s position as the largest and most trusted supplier in the waste equipment industry with leading brands, top quality products and world-class customer service.”
“As we transition into this next stage of our company’s life, we couldn’t be more excited to partner with a firm like H.I.G. The resources and industry knowledge that H.I.G. brings will allow us to accelerate our growth plan. With this partnership, we are confident we will grow our already industry-leading position and, most importantly, continue to satisfy the needs of our customers.”
Wastequip’s existing management team will continue to run the business going forward. The transaction is subject to customary closing conditions and is expected to be completed by the end of the first quarter of 2018.