DLJ Merchant Banking Partners, a private equity investment affiliate of Credit Suisse First Boston, has announced that it has executed a definitive agreement to acquire Wastequip Inc. from CIVC Partners.
Wastequip is a designer, manufacturer and marketer of equipment used to collect, process and transport solid and liquid waste materials. The Beachwood, Ohio-based company has 26 manufacturing facilities, two container repair facilities and service centers and one aftermarket parts operation throughout North America. Wastequip has more than $300 million in annual sales.
Terms of the transaction were not disclosed.
According to Wastequip President and CEO Rovert Rasmussen, CIVC will retain Wastequip's present management.
“DLJ Merchant Banking is committed to significantly expanding Wastequip’s business, providing the company with strategic advice, equity capital and access to a world-renowned investment bank,” Rasmussen says in a press release issued by Wastequip.
DLJ Merchant Banking Partners (DLJMB) is a private equity investor with offices in New York, London, Houston and Buenos Aires. It is part of Credit Suisse First Boston's Alternative Capital Division (ACD), which is one of the largest alternative asset managers in the world with more than $37 billion of assets under management.