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WHI Capital Partners Acquires Two Waste Services Companies; Forms Waste Recyclers Holdings

Posted on: Thursday, 9 February 2006, 12:00 CST

CHICAGO, Feb. 9 /PRNewswire/ -- WHI Capital Partners has acquired two Florida waste services providers, combining them to create Waste Recyclers Holdings, the leading construction and demolition waste services provider in Northwest Florida.

WHI Capital Partners, a Chicago-based private equity firm targeting investments in the smaller end of the middle market, purchased Big Wheel of Florida and Waste Recyclers of North Florida to form Waste Recyclers Holdings. By combining the two acquired companies, Waste Recyclers enters as the dominant market player, owning five active construction and demolition landfills, a hauling fleet of more than 50 trucks plus a portable toilet rental and servicing business.

Waste Recyclers Holdings is poised to take advantage of extensive residential and commercial real estate development in the Florida Panhandle, its primary service territory, which includes several high-growth residential area and expanding military facilities, according to Adam Schecter, the Managing Partner of WHI Capital Partners.

"We are excited to build a leading regional waste services platform in a dynamic and growing marketplace. In completing the transaction, we were fortunate to team up with an extremely seasoned waste services management team to execute our growth plan," Schecter said.

As part of this transaction, WHI Capital Partners joined forces with waste services industry veteran Bart Begley, who will serve as Waste Recyclers' chief executive officer. "Bart is the perfect executive for us to partner with on this investment," added Mr. Schecter. "He understands the operations and complexities of the waste business and, in particular, maximizing use of the company's assets while meeting the needs of customers and the regulatory agencies."

Bart Begley, Waste Recyclers' CEO added, "This is an outstanding and unique opportunity to create the region's leading waste services company, and build it with a partner that has the financial flexibility and operational experience to support our continued growth."

About WHI Capital Partners

WHI Capital Partners is a private equity firm that invests in profitable, mid-size companies with leading market positions and revenues of $10-100 million. WHI principals have significant experience and demonstrated success, not only as owners and managers of closely-held businesses, but also as investors in, and advisors to, middle market companies. Backed by the financial strength of its parent firm, William Harris Investors, WHI Capital Partners has ample resources and the financial strength to help a company capitalize on its opportunities over the long-haul.

For more information, contact Adam Schecter at (312) 621-0641 or adams@whicapital.com.

First Call Analyst: FCMN Contact:

WHI Capital Partners

CONTACT: Sheridan Chaney of Aileron Communications for WHI CapitalPartners, +1-312-629-9400 x14, schaney@aileroninc.com

Source: PRNewswire

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