Capital Waste Services LLC (CWS), a Columbia, South Carolina-based portfolio company of New York-based Kinderhook Industries LLC, has acquired the commercial, front end-load waste collection assets of Pascon LLC. Pascon is based in Lexington, South Carolina, and serves as a solid waste hauler that provides dumpsters, roll-off containers and hauling services to residential and industrial customers.
“We are excited to expand our commercial presence in our core Columbia market,” says Matt Parker, chief executive officer of Capital Waste Services. “The routes acquired from Pascon will be serviced through existing Capital Waste facilities in both Columbia and Aiken. We plan to build off of Pascon’s history of success and provide Capital Waste’s best-in-class service to our new customers.”
According to a statement from Kinderhook, CWS is acquiring six front end-load waste collection vehicles from Pascon along with routes associated with those vehicles. All Pascon employees associated with the acquired routes will be joining CWS. Kinderhook told Waste Today that Pascon will continue to operate its remaining business divisions separately.
According to a news release from CWS, this is the company’s seventh add-on acquisition and Kinderhook’s 62nd environmental and business services transaction since its inception.
“Pascon represents a strategic acquisition for Capital Waste. We continue to build density in the Columbia market focusing on commercial collection accounts,” says Rob Michalik, managing director of Kinderhook. “Matt and his team sought this acquisition from the onset of our partnership due to its strategic fit and will solidify CWS’ position as the independent market leader in Columbia.”
Capital Waste reports that Akin Gump Strauss Hauer & Feld LLP served as legal counsel for this transaction, and a syndicate led by Comerica Bank provided financing for the transaction.