Wastequip, LLC, the Charlotte, N.C.-based waste equipment manufacturer, has announced the close of its acquisition by an affiliate of H.I.G. Capital, LLC, the Miami, Fla.-based private equity investment firm.
As part of the agreement, Andreas Y. Gruson has been named chairman of Wastequip’s board of directors. Gruson has worked in the global waste and financial industry for more than 20 years. He also serves as chairman of Estre Ambiental, Inc. and as executive chairman of Compology, Inc.
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"Wastequip will benefit immensely from having a person of Andreas' caliber to help shape the vision of our company," said Marty Bryant, Wastequip CEO."With him as our chairman of the board, I believe we are well positioned to execute on strategies to drive even greater sales and earnings through both organic growth and acquisitions."
Gruson also offers extensive board-level experience, currently serving as chairman of Estre Ambiental, Inc., a leading provider of waste-related and environmental services for municipal, commercial and industrial customers in Brazil, and as executive chairman of Compology, Inc., a U.S.-based hardware and software company which builds the only dynamic routing and waste volume monitoring system designed specifically for the environmental services industry.
"Wastequip is a company that I've had my eyes on for more than a decade, and I am thrilled to partner with H.I.G. Capital and Marty Bryant to take Wastequip to the next level and beyond," added Gruson.