Dive Brief:
- US Capital Partners extended a bridge loan to fund the acquisition program of a major waste management and recycling company based in the Midwest.
- The bridge loan will give the waste company access to the short-term funding in order to finance its strategic plans for expansion via a $40 million acquisition.
- The private investment firm gave the hauler the loan to cover expenditures associated with its roll-up strategy.
Dive Insight:
Though no word on the name of the company, US Capital Partners said the waste management firm is a leading Midwestern hauler, with 40,000 customers. The solid waste and environmental services company handles turnkey services to individuals, municipalities and companies, and has recycled over 20,000 tons of waste in the Midwest.
The investment firm gave the hauler the loan in less than three weeks, and custom-structured the financing in order for the business to remain "fully in compliance with existing loan terms."
