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July 21, 2000

Wastequip Acquires Galbreath

Beachwood, OH — Wastequip, Inc. and its lead equity investor, CIVC Partners, announce the acquisition of Galbreath, a large waste handling equipment manufacturer with production facilities in Winamac, Indiana and Ider, Alabama.

"Wastequip completed the purchase on July 20th", said George Schneider, President and CEO of Wastequip. "The Galbreath acquisition significantly increases Wastequip's manufacturing and distribution capabilities. Wastequip now has 1,500 employees in 22 production facilities and over 1,000,0000 square feet of manufacturing space spread across North America. This makes Wastequip the leader in waste handling products."

Chris Perry, a CIVC Partner, said "Galbreath is the second acquisition completed since our recapitalization of Wastequip in December of 1999 and the seventh acquisition completed by the company in the past five years. This management team has consistently proven its ability not only to identify acquisitions, but also to successfully improve performance at acquired facilities by employing Wastequip's best practices. Galbreath further enhances Wastequip's strategic position in the industry by expanding our geographic presence and product offering."

According to Mr. Schneider, Wastequip plans to retain current management and all personnel at both Galbreath sites.

Wastequip, Inc. is the leading designer, manufacturer, and marketer of equipment used to collect, process, and transport solid and liquid waste materials. More information on Wastequip can be found at www.wastequip.com.

CIVC Partners manages over $600 million of 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.

Press Contact

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

 
 
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