SEATTLE – February 21, 2024 - Founded by Bill and Adam Herrington in 1999, Herrington Industries is a leading provider of waste management services to the construction and demolition industry in Northeast Florida. This father-son duo built a strategically located landfill and dumpster roll-off business in a rapidly growing part of the United States. The Herringtons’ dedication to operational excellence in all phases of their businesses proved attractive to acquirers.

David Wanetick, Managing Director at Merit Investment Bank, commented, "We were delighted to facilitate the sale of Herrington Industries to Capital Waste Services. The Merit team managed a robust process that garnered interest from a large number of both strategic and financial acquirers. After meeting with dozens of interested parties, Herrington Industries selected Capital Waste Services due to its reputation as a successful waste management company, concern for HI’s employees and the strategic fit that it brought to the table. The Herringtons were fantastic to work with, and we are grateful they placed their trust in us."

Adam Herrington, CEO of Herrington Industries, stated, “The Merit team was tenacious in its efforts to help us prepare for sale and in managing the transaction process. They showed true professionalism every step of the way—from initial due diligence, to handling a large number of expressions of interest, and to managing all the details necessary to achieve a successful close.”

About Capital Waste Services

Headquartered in Columbia, South Carolina, Capital Waste is a leading regional provider of solid waste hauling services for residential, commercial and industrial waste generators. The company operates thirteen hauling locations in Aiken SC, Bluffton SC, Charleston SC, Columbia SC, Conway SC, Florence SC, Orangeburg SC, Chattanooga TN, Manchester TN, Soddy Daisy TN, Dalton GA, Jacksonville FL, and Palatka FL as well as fourteen disposal facilities across FL, GA, NC, SC, TN & VA consisting of eight transfer stations and six landfills. Capital Waste currently services 91,000 residential customers across fourteen long-term municipal contracts as well as approximately 17,000 commercial, industrial, and post-collection customers.

About Merit Investment Bank

Merit Investment Bank is a leading boutique investment bank focused on serving middle market companies. Merit Investment Bank executes sell-side mergers and acquisitions, buy-side M&A, and capital advisory services with a specific emphasis on the waste management, technology, software, consumer, business services and manufacturing sectors. In addition, Merit Investment Bank offers other investment banking services such as debt and equity capital raises and project financing through its subsidiary, Merit Investment Bank Securities, member FINRA/SIPC.

Learn more at www.meritinvestmentbank.com

Contact
David Wanetick
[email protected]