Warren Equity Acquires Meridian Waste

Warren Equity Acquires Meridian Waste

Warren Equity Partners has acquired the solid waste subsidiaries of Meridian Waste Solutions. The acquired businesses represent Meridian’s non-hazardous solid waste services business, primarily operating in Missouri and Virginia, and will operate under the name Meridian Waste post-closing.

Meridian Waste currently services over 130,000 commercial, industrial and residential customers in St. Louis, MO and Richmond, VA. The company’s assets include a fleet of commercial, residential and roll-off trucks, two transfer stations, one recycling facility and three municipal solid waste landfills. Revenues in 2017 were approximately $52 million. (www.MeridianWaste.com).

Meridian Waste will be led by industry executive Walter “Wally” Hall as CEO.  Mr. Hall was one of three founding members of Advanced Disposal Services (NYSE: ADSW), which grew to become the fourth largest solid waste company in the US under his operational leadership from 2000 to 2014. During his tenure at Advanced Disposal, he led and implemented over 150 acquisitions, serviced over 800 municipal contracts and grew operations to over 3,000 collection vehicles, over 40 landfills, and a team of more than 5,000 waste professionals.

“We expect that our partnership with Warren Equity will be a growth catalyst for Meridian Waste,” said Mr. Hall. “The transaction gives us access to capital that will allow us to continue to deliver superior service to our customers, while also providing a springboard into new markets. I believe that, with this partnership, we can build a great company, and we have assembled a talented management team that can deliver on our potential.”

“Warren Equity has a successful track record of investing in infrastructure service companies,” said Steven Wacaster, Managing Partner at Warren Equity.  “The acquisition represents an excellent opportunity for us to partner with management to build an industry-leading waste services platform through optimization of Meridian Waste’s existing assets, as well as through bolt-on acquisitions and organic growth.

Warren Equity invests from $5 million to $40 million in North American-based companies with $3 million to $15 million of EBITDA. Sectors of interest include industrial and business services with a specific focus on infrastructure maintenance and repair. The firm is headquartered in Jacksonville Beach, FL (www.warrenequity.com).

The buy of Meridian Waste is Warren Equity’s ninth acquisition since its formation in mid-2015.

© 2018 Private Equity Professional | April 30, 2018

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