H.I.G. Capital, LLC , a private equity investment firm, has acquired Wastequip, the Charlotte, N.C.-based waste equipment manufacturer. Wastequip had been under the ownership of Centerbridge Partners, L.P. , which purchased the company in 2012.
"We want to thank Centerbridge Partners for their invaluable partnership over the last five years,” Marty Bryant, CEO of Wastequip, said in a statement, “Centerbridge's support has been instrumental in strengthening Wastequip's position as the largest and most trusted supplier in the waste equipment industry with leading brands, top-quality products and world-class customer service."
Wastequip’s current management will continue to be in charge of business operations going forward, and the transaction is expected to be finalized by the end of the first quarter of 2018.
"We are very excited to partner with Marty and the rest of the Wastequip team," said Tenno Tsai, managing director at H.I.G., in a statement. "The company's diverse product portfolio, customer base and nationwide footprint uniquely position it to capitalize on growth opportunities. We look forward to supporting Wastequip's next phase of growth by investing in new product development, geographic expansion and complementary acquisitions."