Odyssey Investment Partners to acquire Wastequip
Odyssey Investment Partners, LLC announced that it has entered into a definitive agreement to acquire Wastequip, Inc. from DLJ Merchant Banking Partners. Financial terms of the transaction were not disclosed.
Headquartered in Cleveland, Wastequip serves national, regional and local waste haulers through 35 manufacturing facilities across the country and employs more than 1,800 people.
Wastequip’s senior management team will continue to lead the company under Odyssey’s ownership.
Led by president and chief executive officer Robert C. Rasmussen, the team includes Gregory L. Podell, chief operating officer; and Richard L. Garcia, chief financial officer. Charles W. Walton, Wastequip’s founder, will continue to serve on the Company’s Board of Directors. Odyssey has extensive experience investing in both industrial manufacturing and localized service businesses.
Completion is expected to occur in the first quarter of 2007.