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February 7, 2007
DLJ Merchant Banking Partners, a private equity investment affiliate of Credit Suisse, has announced the sale of Wastequip to Odyssey Investment Partners LLC in a transaction valued at $616 million. Cleveland-based Wastequip is North America's largest designer, manufacturer and marketer of equipment used to collect, process and transport solid, liquid and semi-liquid waste materials. The deal preserves Wastequip’s senior management team.
DLJ purchased the company in May 2005. Under DLJ ownership, Wastequip’s revenues increased by 56 percent, growth the firm attributes to partnerships with private equity and outsourcing to China.
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