Date: September 10, 2009
Source: Cotton Creek Capital
Cotton Creek Capital Buys Waste Partners of Texas
Cotton Creek Capital has completed the acquisition of Dallas-based Waste Partners of Texas. Waste Partners is a leading provider of solid waste collection, sweeping, portable sanitation and related services in the Southwestern U.S. With operations in the Dallas/Fort Worth, Houston, Las Vegas and Phoenix markets, Waste Partners serves a customer base including commercial and industrial businesses, municipalities, commercial and residential construction firms, and state and municipal transportation authorities.
"Waste Partners is a market leader in providing a comprehensive offering of waste services," said Kevin Roberts, Director of Cotton Creek Capital. "We are pleased to be backing a seasoned management team that has aggressively grown the company's service delivery platform and market presence. Waste Partners stands out from the crowd as a result of the quality service it consistently delivers to its customers."
In Waste Partners, Cotton Creek Capital is partnering with an industry-veteran management team with over 60 years of collective waste industry experience that is led by Chief Executive Officer Mark Duncan.
"The professionals at Cotton Creek Capital have a solid reputation of partnering with management to grow companies both organically and through acquisition," Duncan said. "They understand our business, and with their relationships, a strong balance sheet and ready access to capital, Waste Partners is poised for aggressive growth."
As a follow-on to this transaction, Waste Partners has also acquired Texas Toilets of Texas, another Dallas-based provider of portable sanitation services. Post-acquisition, Waste Partners will continue to operate its combined portable sanitation business in the Dallas/Fort Worth area as Jackpot Sanitation Services. Debt financing for both transactions was provided by BBVA Compass Bank. Waste Partners is the second portfolio investment made by Cotton Creek Capital, following an earlier investment in First Texas BHC, the parent company of Fort Worth-based Southwest Bank.