H.I.G. Capital’s Acquisition of Wastequip

Barclays acted as lead financial advisor, Moelis & Company LLC acted as financial advisor, and Milbank, Tweed, Hadley & McCloy LLP provided legal advice to Wastequip in the transaction. Houlihan Lokey acted as financial advisor and Ropes & Gray LLP provided legal advice to H.I.G.

Wastequip, the leading North American manufacturer of waste equipment, today announced it has signed a definitive agreement to be acquired by an affiliate of H.I.G. Capital, LLC (“H.I.G.”), a leading global private equity investment firm. Wastequip has been owned by Centerbridge Partners, L.P. (“Centerbridge”) since 2012.

Wastequip’s existing management team will continue to run the business going forward. The transaction is subject to customary closing conditions and is expected to be completed by the end of the first quarter of 2018. Barclays Capital, Inc. (“Barclays”) and Credit Suisse Securities (USA) LLC are providing committed financing for the transaction.

Wastequip is the leading North American manufacturer of waste and recycling equipment, with an international network of manufacturing facilities and the most extensive dealer network in the industry. Wastequip’s broad range of waste and recycling equipment and systems is used to collect, process and transport recyclables, solid waste, liquid waste and organics.

H.I.G. is a leading global private equity and alternative assets investment firm with $24 billion of equity capital under management. Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Mexico City and Rio de Janeiro

The Ropes & Gray team includes private equity partners Michael Roh (Picture) and Daniel Evans, private equity associate Jessica Cooney, finance partner Stefanie Birkmann, finance associate Daniel Lee, benefits partner Allie Alperovich, benefits associate Claire Rosa, labor & employment partner Megan Bisk, labor & employment senior attorney Stephanie Bruce, tax partner Adam Greenwood and tax & benefits associate Alexa Voskerichian.

Milbank advised Wastequip with Corporate partner Scott Golenbock and Tax partner Max Goodman, Executive Compensation partner Mike Shah, Antitrust partner Fiona Schaeffer, Leveraged Finance partner Mike Bellucci, and Environmental partner Matthew Ahrens, together with associates Broderick Henry, Alex Wang, Samantha Kwartler, James Beebe and Archan Hazra.

Involved fees earner: Michael Roh – Ropes & Gray; Daniel Evans – Ropes & Gray; Jessica Cooney – Ropes & Gray; Stefanie Birkmann – Ropes & Gray; Daniel Lee – Ropes & Gray; Alexandra Alperovich – Ropes & Gray; Claire Rosa – Ropes & Gray; Megan Bisk – Ropes & Gray; Stephanie Bruce – Ropes & Gray; Adam Greenwood – Ropes & Gray; Alexa Voskerichian – Ropes & Gray; Scott Golenbock – Milbank; Broderick Henry – Milbank; Alex Wang – Milbank; Samantha Kwartler – Milbank; Max Goodman – Milbank; James Beebe – Milbank; Archan Hazra – Milbank; Mike Shah – Milbank; Fiona Schaeffer – Milbank; Michael Bellucci – Milbank; Matthew Ahrens – Milbank;

Law Firms: Ropes & Gray; Milbank;

Clients: H.I.G. Capital, LLC; Wastequip;

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Author: Ambrogio Visconti