Ridge Capital Partners has sold Toter Incorporated to Wastequip
Lincoln International, a leading mid-market investment bank, announced today it represented Ridge Capital Partners and Toter Incorporated (“Toter”) in the sale of Toter to Wastequip, Inc. (“Wastequip”), a portfolio company of Odyssey Investment Partners. Toter, the largest U.S. manufacturer of rotationally molded plastic carts used mainly in residential curbside waste and recycling collection systems, represents a key strategic acquisition for Wastequip and the largest one in their history.
“The team at Lincoln International provided valuable advice during the sale process,” said Clark Davis, a Partner at Ridge Capital Partners. “Their industry knowledge and negotiating skills allowed us to achieve a great outcome for all parties involved in the transaction.”
Headquartered in Statesville, North Carolina, Toter is the leading brand name and the largest U.S. manufacturer of two-wheeled rotationally molded plastic carts used in automated collection systems for residential and commercial waste and recycling applications. The Company also designs and manufactures complementary product lines for retail sales and institutional customers. Toter has operated continuously since 1962 and has facilities in Statesville, North Carolina, Del Rio, Texas, Acuna, Mexico and Sanger, California.
The Toter transaction is the latest by Lincoln International’s Packaging Group. Eric Malchow, Managing Director at Lincoln International stated, “We’re seeing increasing consolidation in the waste management industry, and this creates a lot of opportunity for packaging and plastics manufacturers and their shareholders. Toter was a perfect fit for Wastequip at the perfect time.”
About Ridge Capital Partners
Ridge Capital is a private equity investment firm focused on partnering with outstanding managers to pursue platform build-ups and growth investments in companies in the smaller end of the middle market. Together since 1992, the partners of Ridge Capital collectively have over 30 years of private equity experience and have made over 55 investments in middle market companies. Based outside of Washington, D.C., Ridge Capital’s current investments include niche manufacturing, value-added design/assembly, business services, consumer products, and distribution. www.ridgecapital.com
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