Dive Brief:
- Waste Pro USA announced the completion of a $579 million recapitalization.
- The reorganization of one of the nations’s largest private solid waste firms was spurred to establish a platform that could sustain growth, the company said.
- The new credit facility is all debt, and includes an asset base loan revolving line of credit.This concludes the terms of Waste Pro’s $100 million investment by Roark Capital Partners.
Dive Insight:
In May, Waste Pro sought to increase its investment funding; advisers recommended the firm raise debt or equity from Roark Capital.
Waste Pro holds the advantage of a privately-held company, positioning itself as one of the fastest growing haulers in the U.S. The company is headquartered in Longwood, FL, and has more than 2 million residential and commercial customers across eight states.