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Dec. 6, 1999

CIVC Partners Teams with Management to Acquire Wastequip, Inc.

CIVC Partners, a private equity investment affiliate of Bank of America Corporation (NYSE: BAC) announced today that it has teamed up with management to acquire Wastequip, Inc., a leading designer, manufacturer, and marketer of equipment used to collect, process, and transport solid and liquid waste materials. Wastequip, headquartered in Beachwood, Ohio, has 16 manufacturing facilities located in the U.S. and one in Toronto, Canada. The Company, with approximately $150 million in annual sales, is a leading consolidator among waste handling equipment manufacturers, with a strong record of both internal growth and successful acquisitions. Wastequip was founded in 1989 by Charles Walton to make acquisitions in the waste equipment industry. Mr. Walton will continue to serve as Chairman of Wastequip. Terms of the transaction were not disclosed.

“We are excited to be partnering with CIVC given their experience in providing guidance and equity capital to industry consolidators,” said George Schneider, President and CEO of Wastequip. “The opportunity for Wastequip’s continued growth is tremendous and we look forward to building on our track record of successfully acquiring regional players in the waste equipment market. We are also pleased that our entire management team will stay in place under the new ownership.”

“We are attracted to this business by the management team, the consolidation opportunity and the strong history of internal growth. This management team has repeatedly proven themselves capable of successfully integrating acquisitions, which is typically one of the greatest challenges for industry consolidators,” said Chris Perry, a CIVC Partner.

CIVC Partners manages over $600 million of private equity capital on behalf of Bank of America. CIVC Partners, with 30 years of experience in private equity investing, provides growth capital to middle market companies with a focus on business services, financial services, media and communications, and industrial growth.

More information on Wastequip can be found at www.wastequip.com.

Press Contact

Patty Walker
CIVC Partners, LP
191 North Wacker Drive
Suite 1100
Chicago, Illinois 60606
Telephone: 312 873 7300
pwalker@civc.com

 
 
CIVC PARTNERS: 191 N. Wacker Drive, Suite 1100, Chicago, IL 60606 | © 2017 CIVC Partners. All Rights Reserved.|CIVC PARTNERS: 191 N. Wacker Drive, Suite 1100, Chicago, IL 60606 | © 2016 CIVC Partners. All Rights Reserved.