Lexington, NC based Alpha Waste Industries LLC (www.alphawasteindustries.com) has been providing regional waste disposal services in six counties in the Piedmont Triad area since 2011.
Alpha Waste Industries (AWI) offers waste management services including:
- Roll-off dumpster services on a temporary or permanent basis
- Front load dumpster services on a temporary or permanent basis
- Compactor services on a temporary or permanent basis
- Comprehensive recycling services.
AWI serves municipalities, corporations and other organizations and cities currently serviced include Lexington, Welcome, Midway, Arcadia, Winston-Salem, Kernersville, Salisbury, High Point, and Greensboro.
Scale Finance CFO Cheryl Hogan serves as AWI’s fractional-use CFO and facilitated a rigorous process to secure this refinancing and growth capital with the ideal financial partner. SF Managing Director Dave Gilroy advised on this capital raise process in support of Hogan and the AWI leadership team, and to pursue the best terms available given current conditions in the private debt market.
First Bank, based in Southern Pines, NC, is providing the growth capital in the form of multiple credit facilities (Operating Line of Credit, Business Line of Credit, Truck Financing, and Commercial Installment Loans). First Bank is providing a flexible structure tailored effectively to supporting AWI’s operations, and total capital of $4 – 5 million will be available to fuel the continued growth of AWI in the coming years.
About First Bancorp
First Bancorp is the holding company for First Bank and is headquartered in Southern Pines, North Carolina, with total assets of approximately $5.6 billion. Its principal activity is the ownership and operation of First Bank, a state-chartered community bank that operates 102 bank branches in North Carolina and South Carolina. Since 1935, First Bank has taken a tailored approach to banking, combining best-in-class financial solutions, helpful local expertise, and technology to manage a home or business. First Bancorp’s common stock is traded on the NASDAQ Global Select Market under the symbol “FBNC.” Visit our website at www.LocalFirstBank.com. Member FDIC, Equal Housing Lender.
About Scale Finance
Scale Finance LLC (www.scalefinance.com) provides contract CFO services, Controller solutions, and support in raising capital, or executing M&A transactions, to entrepreneurial companies. The firm specializes in cost-effective financial reporting, budgeting & forecasting, implementing controls, complex modeling, business valuations, and other financial management, and provides strategic help for companies raising growth capital or considering M&A/recapitalization opportunities. Most of the firm’s clients are growing technology, healthcare, business services, consumer, and industrial companies at various stages of development from start-up to tens of millions in annual revenue. Scale Finance has multiple offices in the Carolinas including Charlotte, Raleigh/Durham, Greensboro, and Wilmington with a team of more than 45 professionals serving more than 130 companies throughout the region.
