Contact Information: Media Contact: Joey Delgado P: 214-242-0700 jdelgado@cottoncreekcapital.com
Cotton Creek Capital Acquires Waste Partners of Texas
Partnership Between Management and Cotton Creek Capital Positions the Company for Significant Growth
| Source: Cotton Creek Capital
DALLAS, TX--(Marketwire - September 9, 2009) - 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.
About Cotton Creek Capital
Cotton Creek Capital is a Dallas-based private equity firm focused on
investing in and growing established lower middle market companies in
manufacturing, value-added distribution, industrial services, business
services, healthcare services and consumer staples. The firm invests in
companies with enterprise values between $15 million and $100 million
through transactions ranging from buyouts, recapitalizations,
buy-and-builds, and corporate divestitures to selected minority
investments. Cotton Creek Capital is affiliated with Brownlie & Braden, a
provider of financial advisory services to high net worth families for over
20 years.
About Waste Partners of Texas
Waste Partners is a provider of solid waste collection, sweeping, portable
sanitation and other related services. With operations in key markets
throughout the Southwestern U.S., Waste Partners provides a comprehensive
array of waste services under the tradenames Mr. Dirt, Jackpot Sanitation
Services, Essential Erosion Control and Best Water Truck. Dallas-based
Waste Partners is led by Chief Executive Officer Mark Duncan. For more
information on Waste Partners, visit www.mrdirtusa.com.