Elite Waste Services (EWS) recently announced the successful acquisition of Raleigh Metal Recycling (RMR), a leader for metal recycling services in the Triangle market of North Carolina. EWS provides waste management services and metal recycling at three locations in the Raleigh-Durham/Triangle market. Founded in 1922, RMR provides ferrous and non-ferrous metal recycling services at its two locations in Raleigh and Goldsboro, NC.
EWS CEO Dan Wall remarked “The acquisition of RMR allows the company to become the only one-stop shop for waste reclamation and metal recycling in the Raleigh market, an important consideration for customers. We expect that the combined company will continue to show strong growth into the future.”
Scale Finance transaction advisor Gerhard Renner, who spearheaded the acquisition with colleague Gary Hayes, added “The combined operations of the company will result in a highly profitable business, and propels EWS into one of the leaders in the State of North Carolina for both scrap and metal recycling. As we integrate the companies, we will continue to be highly aware of further acquisition opportunities. EWS has a young, but highly experienced management team, with a proven capability to execute the growth strategy”.
Scale Finance has been providing fractional CFO services to EWS since 2017. Scale Finance Managing Directors Gerhard Renner and Gary Hayes co-managed the acquisition process for the company with the support of Michael Rowe, who will continue to serve as the fractional CFO for EWS going forward. Scale Finance secured senior debt financing from 5/3rd Bank to finance the acquisition and fund working capital to support the future growth of the company.
About Elite Waste Services
As Raleigh’s leading dumpster rental company, EWS’s mission is disposing of high volumes of waste in a simple, convenient and hassle-free manner. The company supplies commercial and residential dumpster rentals throughout Raleigh, Cary, Durham and surrounding areas, offering next-day dumpster delivery, and prompt, friendly drivers who handle all the heavy lifting. The company’s charter for its customers is “Simply fill your dumpster from the open top and call us when you’re ready for us to come get it. Because when you want it gone, you want it gone”.
About 5/3rd Bank
Fifth Third Bank (5/3 Bank) is a leading middle market bank headquartered in Cincinnati, Ohio. It is the principal subsidiary of Fifth Third Bancorp, a bank holding company. The bank operates 1,200 branches and 2,500 ATM’s in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, and North Carolina.
The bank is ranked 389th on the Fortune 500, and is the 24th largest banking institution in the United States. The name “Fifth Third” is derived from the names of both of the bank’s two predecessor companies: Third National Bank and Fifth National Bank, which merged in 1908.
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.