NEW
YORK, May 14, 2024 /PRNewswire/ -- Firmament, a
provider of structured equity capital solutions to small- and
medium-sized enterprises, announced today its strategic investment
in Whitecap Waste, one of the leading waste collection service
companies in southern West
Virginia. Whitecap Waste represents Firmament's
8th platform investment in environmental services since
inception.
Whitecap Waste is one of the leading regional providers of solid
waste collection services in West
Virginia and provides residential, commercial, and
industrial waste collection services to over 30,000 customers
throughout its footprint. Founded in 2020, Whitecap Waste expanded
through the consolidation of three solid waste companies in its
footprint: Beckley Garbage, Oak Hill Garbage, and Dave's
Sanitation. Whitecap Waste is led by Michael Schmidt, who will remain as President of
the company post-close.
Firmament's investment will enable Whitecap Waste to continue
its growth in existing markets, expand its operational
capabilities, and enter new geographies. Through this strategic
partnership, Whitecap Waste will gain access to Firmament's talent
network, financial resources, and expertise in the environmental
services sector.
Brian Peters, Principal at
Firmament, expressed his enthusiasm about the investment, stating,
"We are excited to partner with Whitecap Waste, one of the leading
platforms in the solid waste space. Together, we are committed to
providing quality service and supporting growth." Andy
McNeill, Operating Partner at Firmament, added, "West Virginia is an underserved waste market
which stands to benefit from our investment. Through our
partnership, we strive for operational excellence and aim to drive
continued growth in the solid waste industry."
Michael Schmidt, President of
Whitecap Waste, stated, "This investment from Firmament reaffirms
the hard work and dedication of the entire Whitecap Waste team. We
are excited about the possibilities this partnership brings, and we
look forward to advancing our mission of building a great company
and while continuing to provide superior service to our
customers."
About Whitecap Waste:
Whitecap Waste
(https://whitecapwaste.com/) is a solid waste collection company
that services residential, commercial, and industrial customers in
West Virginia. Whitecap Waste is
committed to providing reliable, efficient and timely service,
while protecting the natural beauty of West Virginia.
About Firmament:
Firmament (www.firmament.com) provides control equity, minority
equity and growth debt capital to lower-middle market businesses
primarily in three core industry verticals: Technology, Healthcare
and the Environment. Within these verticals, we make investments in
service, software and specialty-manufacturing companies with
significant scaling potential. We seek to be a value-added partner
to entrepreneurs, management teams, and business owners, and curate
solutions by deploying versatile capital in a user-friendly way.
With offices across the United
States, Firmament is focused on turning small business into
big business.
Media Contact:
Isabella
Schepel
media@firmament.com
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SOURCE Firmament