June 8, 2020
Columbia, SC – Capital Waste Services, LLC (“Capital Waste” or “CWS”), a portfolio company of Kinderhook Industries, LLC (“Kinderhook”), announced the acquisition of Priority-1 Residential, LLC (“Priority-1” or the “Company”), a municipal collection company in Ridgeville, SC. Priority-1 offers residential waste collection as well as curbside recycling and yard debris collection. Priority-1 represents Capital Waste’s 1st add-on acquisition and Kinderhook’s 45th environmental services transaction since inception.
Founded in 2005 and headquartered in Ridgeville, SC, Priority-1 was owned and operated by Clint Odom, a waste industry veteran. Under Mr. Odom’s ownership, Priority-1 became a leading collection company, utilizing ten trucks to provide hauling services for over 15,000 homes.
“Priority-1 is a premier service provider in the region with long standing relationships with municipalities. In addition, Clint has an extensive knowledge of the market given his fifteen year history of operations,” said Matt Parker, Chief Executive Officer of CWS. “We are eager to continue growing the business and expand the Company’s collection capabilities to reach commercial and roll-off customers within the broader Charleston market.”
“We are excited to partner with Kinderhook and become part of the Capital Waste platform. Capital Waste is known for its best-in-class service and we are proud to operate under such a strong regional brand.” said Clint Odom, Owner of Priority-1.
Kirkland & Ellis LLP served as legal counsel to Kinderhook. Financing for the transaction was provided by Comerica Bank.