Priority Waste, a Metro Detroit based regional provider of waste hauling services to residential, commercial, and industrial customers, announced the closing of a $30 million equity commitment from TRP Capital Partners to support the Company’s continued growth. In conjunction with the investment, Priority Waste closed on three acquisitions to further expand its diversified platform of environmental services in the Metro Detroit area.
“Priority Waste is excited and honored to be with an experienced industry leader. Our partnership will greatly enhance and benefit the further expansion of Priority Waste,” said Todd Stamper, Priority Waste’s CEO.
“We are enthusiastic to partner with Todd and his team as they undertake the next chapter of Priority Waste’s growth. The Company has shown impressive growth to date and has a highly capable and experienced leadership team,” said Michael DiRienzo, a Managing Director at TRP Capital Partners. “We were truly impressed with the feedback from customers, evidencing a track record of high-quality customer service across multiple business units.”
“With the benefit of TRP’s operational and financial resources, we believe Priority Waste is well positioned to continue gaining market share and delivering best-in-class results for its customers,” said David Mitchell, a Managing Director at TRP Capital Partners. “We are pleased to make Priority Waste the first platform investment in our most recent fund.”
About Priority Waste
Priority Waste (www.prioritywaste.com), headquartered in Clinton Township, Michigan, provides waste hauling services across the Metro Detroit area. Priority Waste has grown to over 60 employees under the leadership of its founder, Todd Stamper. The Company operates out of three primary facilities, including a transfer station. Priority Waste maintains a diversified platform providing service to both municipal solid waste and construction & demolition customers. Through its yellow fleet of residential, roll off, and front load trucks and containers, Priority Waste makes the customer experience its #1 priority.
About TRP Capital Partners
Since 1997, TRP Capital Partners (“TRP”) (www.trpfund.com) has invested $800 million of equity in 27 platform transactions. TRP seeks to make investments in growth-oriented businesses in the transportation sector. The firm capitalizes on strategic relationships, commercial synergies, and the transportation expertise of all of its partners. TRP’s philosophy is to support existing management teams while giving them autonomy to run their businesses. TRP’s principals have 100+ years of experience in the areas of finance and transportation-related investing.
For additional information on Priority Waste, please contact Todd Stamper at todd@prioritywaste.com.
For additional information on TRP Capital Partners, please contact David Mitchell at dave.mitchell@trpfund.com.