Millbrook Capital Management Inc., a New York City-based investment firm led by John Dyson, has created a new company to enter the waste and recycling equipment industry. The newly created company, Wastebuilt Environmental Solutions LLC, has announced it has acquired two companies, Stepp Equipment Co. and Galfab Inc., and is seeking more acquisitions.
“We believe that the national haulers, municipalities, dealers, distributors and local haulers in the waste and recycling industry will benefit from a well-capitalized and customer-focused source for equipment, parts and maintenance,” says Alan Rivera, executive vice president and CFO of Millbrook Capital Management. “By combining a leading service, parts and distribution company with a high quality manufacturing company, we have drawn on the best of both worlds.”
Greg Podell, Wastebuilt’s CEO, says, “I am extremely excited about combining two experienced companies in the waste and recycling equipment industry. The experience and expertise these two companies bring to this industry are unmatched.”
“I am looking forward to being part of Wastebuilt,” says Don Galbreath, owner of Galfab Manufacturing. “After over 50 years in the industry, I cannot think of a better partner than Stepp Equipment. I am thrilled Wastebuilt brought us together.”
Ken Kozelka, vice president and co-owner of Stepp Equipment, notes, “This is a historic day for our company. We are moving onto the next chapter for Stepp Equipment.”
The two companies will continue to operate in their existing locations and offer a wide variety of products and services to their customers.