M&A Deal Summary

H.I.G. Private Equity Acquires Wastequip

On February 6, 2018, private equity firm H.I.G. Private Equity acquired machinery company Wastequip from Centerbridge Partners

Acquisition Highlights
  • This is H.I.G. Private Equity’s 2nd transaction in the Machinery sector.
  • This is H.I.G. Private Equity’s 153rd transaction in the United States.
  • This is H.I.G. Private Equity’s 2nd transaction in North Carolina.

M&A Deal Summary
Date 2018-02-06
Target Wastequip
Sector Machinery
Buyer(s) H.I.G. Private Equity
Sellers(s) Centerbridge Partners
Deal Type Secondary Buyout
Advisor(s) Barclays Investment Bank
Moelis & Co. (Financial)
Milbank (Legal)

Target

Wastequip

Charlotte, North Carolina, United States
Wastequip is a North American manufacturer of waste and recycling equipment, with an international network of manufacturing facilities and the most extensive dealer network in the industry. Wastequip's broad range of waste and recycling equipment and systems is used to collect, process and transport recyclables, solid waste, liquid waste and organics. The Company's brands include Wastequip, Toter, Galbreath, Pioneer, Mountain Tarp, Cusco, Go To Parts, and Accurate. Wastequip was founded in1989 and is based in Charlotte, North Carolina.

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Buyer(S) 1

Buyer

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1993
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital LLC. The firm focuses on management buyouts, growth equity investments, and recapitalizations of middle market companies with an enterprise value of $50 - $1000 million. The Firm also will consider add-on acquisitions, industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 and has offices in Miami, Atlanta, Boston, and San Francisco. HIG's European affiliate is HIG Europe with offices in London, Hamburg, and Paris.

DEAL STATS #
Overall 222 of 369
Sector (Machinery) 2 of 5
Type (Secondary Buyout) 28 of 68
State (North Carolina) 2 of 7
Country (United States) 153 of 245
Year (2018) 5 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-30 Town & Country

New York, New York, United States

Town & Country is a supplier of kitchen textiles, table linens, bath textiles and accessories, performance and decorative rugs and mats, and other home products to retailers throughout North America. With a history of long-tenured customer relationships, Town and Country has built a service track record, robust sourcing platform, and a unique inventory and supply-chain management system enabling the Company to become the preferred provider of kitchen and table linen products to the some of the world’s largest retailers. Town & Country was founded in 1954 and is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-13 TRAKAmerica

Bonita Springs, Florida, United States

TRAKAmerica is a provider of data-driven outsourced credit recovery solutions to top-tier banks, financing companies, and national debt buyers. TRAK manages a nationwide network of certified attorney firms and collection agencies throughout the entire recovery process on behalf of its clients. TRAKAmerica was founded in 2000 and is based in Bonita Springs, Florida.

Sell -

Seller(S) 1

SELLER

Centerbridge Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 2005
PE ASSETS 38.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Centerbridge Partners is a mega-sized private equity firm focused primarily on distressed/special situations in North America and Europe. In addition to making control investments, Centerbridge also maintains funds for non-control credit investments. Centerbridge was formed in 2005 and is based in New York City.

DEAL STATS #
Overall 12 of 24
Sector (Machinery) 1 of 1
Type (Secondary Buyout) 4 of 9
State (North Carolina) 1 of 2
Country (United States) 11 of 22
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-01 Sompo Canopius

Zurich, Switzerland

Sompo Canopius writes global specialty lines (re)insurance with close to $100bn total assets and one of the top three Japanese insurers. Sompo Canopius underwrites a diversified portfolio of business from its operations at Lloyd's and around the world. It has achieved significant growth since its foundation through a mix of organic expansion and acquisition and is one of the top 10 insurers in the Lloyd’s insurance market, writing premiums in excess of $2 billion.

Buy $952M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-14 Industrial Container Services

Montebello, California, United States

Industrial Container Services LLC is a provider of reusable container solutions in the United States, providing new and reconditioned steel, plastic, and fiber drums. With 49 facilities across the United States and Canada, ICS collects, reconditions and distributes over 10 million steel, poly and intermediate bulk containers annually and is the only company capable of offering comprehensive services, including pickup and reconditioning of containers of all major packaging types, new container manufacturing and distribution, to customers nationally.

Sell -
Mergr

Product

Company

Legal