SOURCE: Cotton Creek Capital

September 09, 2009 16:49 ET

Cotton Creek Capital Acquires Waste Partners of Texas

Partnership Between Management and Cotton Creek Capital Positions the Company for Significant Growth

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.

Contact Information