H.I.G. Infrastructure Completes Acquisition of Best Trash
July 11 2024 - 9:30AM
Business Wire
H.I.G. Capital (“H.I.G.”), a leading global alternative
investment firm with $64 billion of capital under management, is
pleased to announce that one of its affiliates has completed the
acquisition of Best Trash, LLC (“Best Trash” or the “Company”).
Headquartered in Richmond, TX, Best Trash is a market leading
municipal solid waste platform serving the residential waste
collection needs of select markets in Texas including the Greater
Houston Area (“GHA”). Best Trash services utility districts,
municipalities, homeowner associations, and individual
residences.
Mark Moderski, Chief Executive Officer of Best Trash, commented,
“We are thrilled to partner with H.I.G. and leverage their
significant experience and resources as we enter this next phase of
growth. Best Trash has built its brand providing exceptional
service to its customers, and we look forward to continuing to
serve the communities in which we operate.”
Miriam Rafiqi, Managing Director at H.I.G. Infrastructure,
added, “We are excited about the opportunity to partner with Mark
and his outstanding management team in the Company’s next stage of
growth. Best Trash provides essential and recurring services under
long-term contracts and has a reputation for prioritizing reliable
and consistent customer service, which will continue to drive
growth in the business. We look forward to supporting management’s
continued growth initiatives.”
Stifel, Nicolaus and Company, Inc. acted as financial advisor
and Ropes & Gray LLP served as legal counsel to H.I.G. Raymond
James & Associates, Inc. acted as financial advisor and White
& Case LLP served as legal counsel to Best Trash.
About Best Trash
Founded in 2009, Best Trash is a premier and trusted waste
collection platform providing non-discretionary, best-in-class
service to over 450,000 homes across more than 350 contracts. Best
Trash delivers full-suite rear-load residential refuse
collection.
Best Trash has a stellar reputation for quality and safety,
resulting in industry leading customer retention. The Company’s
long-term contracts provide significant revenue visibility, and
when paired with Best Trash’s long-term disposal contracts,
generate attractive, and stable margins. For more information,
visit best-trash.com.
About H.I.G. Capital
H.I.G. is a leading global alternative investment firm with $64
billion of capital under management.* Based in Miami, and with
offices in Atlanta, Boston, Chicago, Los Angeles, New York, and San
Francisco in the United States, as well as international affiliate
offices in Hamburg, London, Luxembourg, Madrid, Milan, Paris,
Bogotá, Rio de Janeiro, São Paulo, and Dubai, H.I.G. specializes in
providing both debt and equity capital to middle market companies,
utilizing a flexible and operationally focused/value-added
approach:
- H.I.G.’s equity funds invest in management buyouts,
recapitalizations, and corporate carve-outs of both profitable as
well as underperforming manufacturing and service businesses.
- H.I.G.’s debt funds invest in senior, unitranche, and junior
debt financing to companies across the size spectrum, both on a
primary (direct origination) basis, as well as in the secondary
markets. H.I.G. also manages a publicly traded BDC, WhiteHorse
Finance.
- H.I.G.’s real estate funds invest in value-added properties,
which can benefit from improved asset management practices.
- H.I.G. Infrastructure focuses on making value-add and core plus
investments in the infrastructure sector.
Since its founding in 1993, H.I.G. has invested in and managed
more than 400 companies worldwide. The Firm’s current portfolio
includes more than 100 companies with combined sales in excess of
$53 billion. For more information, please refer to the H.I.G.
website at hig.com.
*Based on total capital raised by H.I.G. Capital and its
affiliates.
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version on businesswire.com: https://www.businesswire.com/news/home/20240711074451/en/
Miriam Rafiqi Managing Director mrafiqi@hig.com
Paul Gurm Principal pgurm@hig.com
H.I.G. Capital 1271 Avenue of the Americas 22nd Floor New York,
NY 10020 P 212.506.0500 hig.com