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Capital Waste Towers over Tennessee with Two Terrific Tuck-ins

Capital Waste Towers over Tennessee with Two Terrific Tuck-ins

February 13, 2023

Columbia, SC – Capital Waste Services, LLC (“Capital Waste” or “CWS”), a portfolio company of Kinderhook Industries, LLC (“Kinderhook”), announced the acquisition of Southern Central Waste Services, LLC  (“Southern Central”) and Priority Waste Services, Inc. (“Priority”). Southern Central is a roll-off waste collection company that operates a network of three transfer stations in Tennessee. Priority is a commercial, residential, and roll-off waste collection company with an MSW transfer station located in Soddy Daisy, Tennessee. These acquisitions represents Capital Waste’s eighth and ninth add-on acquisitions. With the acquisition of Priority, Kinderhook has now completed 86 environmental / business services transaction since inception.

“These companies represent highly complementary acquisitions adjacent to our Chattanooga operations. We are excited to further expand in this high-growth region with desirable demographic tailwinds. The employees and talent coming over with these acquisitions will further buildout our growing team in this market. With the help of their personnel, we will continue to maintain Southern Central and Priority’s strong customer relationships while implementing Capital Waste’s best practices across the market.” said Matt Parker, Chief Executive Officer of CWS.

“With permitted transfer stations, Southern Central and Priority represent unique assets that will serve to further buildout Capital Waste’s vertically integrated network in Southeast Tennessee. With the ability to drive additional tons into Capital Waste’s surrounding landfills, we are excited to have cradle to grave control of waste generated in this market. As always, we continue to be aggressive in looking to acquire unique solid waste assets for this platform.” said Rob Michalik, Managing Director of Kinderhook.

Akin Gump Strauss Hauer & Feld LLP served as legal counsel to Capital Waste. A financing syndicate led by Comerica Bank and including MUFG Bank, Webster Bank, and Fifth Third provided debt financing for the transactions.

For additional information about this transaction, please contact: 
Robert Michalik
Managing Director
(212) 201-6789
[email protected]
 
Corwynne Carruthers
Managing Director
(212) 201-6799
[email protected]
 
Sam Keenan
Principal
(212) 201-6795
[email protected]


About Kinderhook Industries

Founded in 2003, Kinderhook Industries, LLC is a private investment firm that manages over $5.4 billion of committed capital. We have made in excess of 375 investments and follow-on acquisitions since inception. Kinderhook’s investment philosophy is predicated on matching unique, growth-oriented investment opportunities with exceptional financial expertise and our proprietary network of operating partners. Our focus is on middle market businesses with defensible niche market positioning in the healthcare services, environmental / business services, and automotive / light manufacturing sectors. We have a track record of successfully and consistently building industry leaders.

For more information, please visit https://www.kinderhook.com


About Capital Waste Services

Headquartered in Columbia, South Carolina, Capital Waste is a leading regional provider of solid waste hauling services for residential, commercial and industrial waste generators. The Company operates nine hauling locations in Camden SC, Ridgeville SC, Columbia SC, Florence SC, Bluffton SC, Manchester, TN, Soddy Daisy TN, Chattanooga TN, and Dalton GA as well as nine disposal facilities consisting of six transfer stations and three landfills. Capital Waste currently services 95,000 residential customers across fourteen long-term municipal contracts as well as 15,000 commercial, industrial, and construction and demolition waste customers.

For more information, please visit http://www.capwasteservices.com

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