Praesidian Capital Invests $13.67 Million in First Lien Debt To Meridian Waste Solutions, Inc.
Funds Support Companys Recapitalization, Future Growth
NEW YORK — August 11, 2015 — Praesidian Capital (Praesidian or the Firm), a leading provider of senior and subordinated debt capital for small and mid-sized companies, announced today it has invested $13.7 million in first lien debt in Meridian Waste Solutions, Inc. (OTC: MRDN) (MWS) (Meridian), a Midwestern provider of waste collection and recycling. The new debt supports MWS recapitalization and acquisition strategy. MWS operates in St. Louis, MO and services 40,000 customers in that market.
We are building a solutions company focused on the municipal market. The cornerstone to our success is the quality of service we provide our customers each day. In addition, we are finding new ways to offer more solutions for our municipal customers to make Meridian a valuable resource for our markets. stated Jeff S. Cosman, MWS CEO. We are pleased to partner with Praesidian as we move forward with acquisitions that support our waste solutions focus.
Wes Owen, Managing Director of Praesidian, added: We are pleased to partner with MWS as it executes its growth strategy. We look forward to helping Meridian build its business in the months and years to come.
About Meridian Waste Services, Inc.
MWS operates in St. Louis, MO as Meridian Waste Services, LLC, which serves more than 40,000 residential, commercial and temporary customers. With a fleet of commercial, residential and temporary roll off trucks, the company provides unparalleled customer service in the form of long-term and short-term contracts. MWS is striving to acquire companies that offer various solutions in the waste industry and in select markets around the country. Following its first acquisition with key, the combined companies will employ approximately 120 people.
About Praesidian Capital
Praesidian Capital is an innovative private investment firm focused on providing senior and subordinated debt along with growth capital to private lower middle market businesses in the United States, United Kingdom, Germany, and selectively in Northern Europe. Praesidian invests in established, small and mid-sized companies often in connection with management buyouts, recapitalizations and refinancings. Based in New York City with an office in London, Praesidian manages nearly $1 billion in committed capital. For more information, visit www.praesidian.com.
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