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Kinderhook-Backed Capital Waste Launches Charleston Operations with Priority-1 Residential Acquisition

Kinderhook-Backed Capital Waste Launches Charleston Operations with Priority-1 Residential Acquisition

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.

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]


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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