Dive Brief:
- Waste Pro USA is moving to increase investment funding, according to information a source told The Wall Street Journal.
- Stifel Financial Corp. is advising the waste and recycling firm, guiding the company to raise debt or equity, including a buyback from Roark Capital Group, who currently hold an 8% stake in the company.
- 92% of the firm's shares are held by Chairman and CEO John Jennings, who is expected to remain a majority stakeholder.
Dive Insight:
When Roark acquired its stake in 2009, it was agreed that Waste Pro would eventually purchase the 8% share back within five years, according to The Wall Street Journal.