H.I.G. Capital acquires Wastequip

Charlotte, North Carolina-based Wastequip, a leading North American manufacturer of waste equipment, announced in early February that it had signed a definitive agreement to be acquired by H.I.G. Capital LLC, a leading global private equity investment firm based in Miami. The deal closed in late March. Centerbridge Partners LP, New York, had owned Wastequip since 2012.

Marty Bryant, chief executive officer of Wastequip, says, “We want to thank Centerbridge Partners for their invaluable partnership over the last five years. Centerbridge’s support has been instrumental in strengthening Wastequip’s position as the largest and most trusted supplier in the waste equipment industry with leading brands, top quality products and world-class customer service.”

Wastequip’s brands include Wastequip, Toter, Galbreath, Pioneer, Mountain Tarp, Cusco, Go To Parts and Accurate. The company’s product selection includes dumpsters, compactors, balers, carts and other products to collect household, commercial and industrial waste and recyclables.

Kyle Cruz, senior managing director at Centerbridge, says, “Over the past five years, we partnered with Marty and his team to improve the performance and competitiveness of the company. We are proud of their success and believe that Wastequip is well-positioned for the future.”

Bryant adds, “As we transition into this next stage of our company’s life, we couldn’t be more excited to partner with a firm like H.I.G. The resources and industry knowledge that H.I.G. brings will allow us to accelerate our growth plan. With this partnership, we are confident we will grow our already industry-leading position and, most importantly, continue to satisfy the needs of our customers.”

“We are very excited to partner with Marty and the rest of the Wastequip team,” says Tenno Tsai, managing director at H.I.G. “The company’s diverse product portfolio, customer base and nationwide footprint uniquely position it to capitalize on growth opportunities. We look forward to supporting Wastequip’s next phase of growth by investing in new product development, geographic expansion and complementary acquisitions.”

Wastequip’s management team will continue to run the business, according to a news release issued by the company.

Barclays Capital Inc. and Credit Suisse Securities (USA) LLC provided committed financing for the transaction. Barclays acted as lead financial advisor, Moelis & Co. LLC acted as financial advisor and Milbank, Tweed, Hadley & McCloy LLP provided legal advice to Wastequip in the transaction. Houlihan Lokey acted as financial advisor and Ropes & Gray LLP provided legal advice to H.I.G.

Visit www.wastequip.com for more information.

General Kinematics introduces Barrier line

General Kinematics (GK), Crystal Lake, Illinois, has introduced Barrier, a vibratory equipment monitoring device. The Barrier line provides three levels of equipment processing—Apex, Vertex and Nomadx—that the company says can be customized to users’ processes.

GK says Barrier help companies better maintain their equipment and avoid downtime.

Apex is a portable device that can be placed on any vibratory equipment to track vibrations, strokes, frequencies and other variables. The company says highlights include planning maintenance based on real data, replacing parts prior to a failure and easily sending data to General Kinematics’ field service team.

Vertex is capable of monitoring equipment 24/7, transmitting data to the user’s personal Barrier Portal.

Nomadx is an all-new segment of General Kinematics’ field service department dedicated to monitoring and analyzing equipment performance data, the company says.

“Our nomadic field service team will assist you with analyzing your data, monitoring your equipment and implementing maintenance to keep your equipment running smoothly around the clock,” General Kinematics says.

Visit www.generalkinematics.com for more information.

US Shredder and Castings Group partners with Cometel

U.S. Shredder and Castings Group, Miramar Beach, Florida, and Cometel, Spain, have introduced Cometel’s turnings and chip recycling equipment to North America.

Since 1987, Cometel has designed, manufactured and commissioned turnkey solutions for conveying and processing chips, turnings and other scrap metals. The company’s systems consist of metal hinge conveyors, chip crushers (vertical and horizontal axis) and chip centrifuges and are compact and modular with minimal installation time, U.S. Shredder says.

The companies are targeting foundries, machining companies and metal recyclers.

In 2017 Cometel opened a sales, engineering and parts office in Mexico to support the North American market.

The U.S. Shredder and Castings Group offers scrap shredders, control systems, downstream systems, nonferrous recovery, air systems, shredder castings, service, engineering and construction and installation to the scrap industry.

More information is available from U.S. Shredder’s sales office at 205-999-7670 and through www.usshredder.com and www.cometel.net.

Autocar, Hendrickson partner on axle and suspension system

Autocar, headquartered in Hagerstown, Indiana, and Hendrickson, headquartered in Itasca, Illinois, say they have partnered to offer a new severe-duty axle and suspension system engineered by Hendrickson for Autocar’s refuse trucks operating on the toughest routes.

Autocar’s ACX truck features the Hendrickson Steertek NXT front-steer axle and integrated suspension, which are designed to deliver maximum performance as a complete system solution, Hendrickson says. “The fabricated Steertek NXT design integrates lightweight axle durability with advanced spring suspension technology, saving 60 pounds compared to traditional I-beam axle and multileaf spring systems,” the company adds.

“Autocar has a very different strategy from other OEMs (original equipment manufacturers) in the refuse business,” says Adam Burck, Autocar vice president of brand management. He adds that many OEMs use their own engines, transmissions, axles and suspensions. While he says this approach can offer efficiencies, it may not address customers’ needs.

Autocar’s partnership with Hendrickson is not new; the companies have been working together for more than 50 years.

Stephen Hampson, director of marketing and business development at Hendrickson, adds that refuse vehicles traditionally use an I-beam axle that can be “quite heavy.” Hendrickson’s Steertek NXT solution features box welded construction that is hollow inside, making it lighter than a forged I-beam design.

The company also is supplying Autocar with a suspension system.

The combination of the axle and suspension system allows Autocar to provide its users with a better ride and better handling, the partners say.

More information on the companies is available at www.autocartruck.com and at www.hendrickson-intl.com.

Wendt sells MTB Cable Box to Potomac Metals

Potomac Metals Inc., headquartered in Sterling, Virginia, has purchased an MTB Cable Box from Buffalo, New York-based Wendt Corp. Wendt indicates the purchase will allow Potomac Metals to upgrade its wire packages to clean copper and aluminum products, opening additional markets. The equipment will be installed and commissioned at Potomac Metals in the first quarter of this year and will run seven days per week in two eight-hour shifts per day.

Founded in 1997, Potomac Metals is a privately held independent scrap metal recycling company. Since opening its first 5,000-square-foot location with two employees, the company has grown to more than 150 employees and eight locations throughout Virginia, West Virginia and Maryland.

Potomac attended Wendt’s Demo Days in June 2017, which showcased the MTB Cable Box running four material types: shredder wire, No. 1 copper wire, aluminum cable and aluminum-copper radiators. The company is the third to attend the event to purchase the wire chopping system, Wendt says.

“We saw the MTB Cable Box in action at Wendt Demo Days, and the separation system is top of the line,” says Eric Zwilsky, vice president of Potomac Metals. “When we saw the system processing low grades and dirtier wire than we are looking to process, we knew it could easily get the job done.”

Potomac Metals plans initially to process high-grade No. 1 wire through the system and then expand into processing additional wire packages, including high-grade No. 2 wire, insulated aluminum, BX (flexible metal conduit) cables and URD (underground residential distribution) cables.

Potomac Metals’ MTB Cable Box will feature a BDR 1245 shredder, two BAT 800 granulators, air density tables, screens, magnetic separators and integrated electrical controls and dust collection system. The containerized, turnkey solution with two 40-foot, one 20-foot and one 10-foot container will be installed at the company’s headquarters in Sterling. The wire chopping system will process wire from the company’s eight drive-in locations and industrial accounts.

For more information, visit www.potomacmetals.com and www.wendtcorp.com.