Date: November 19, 2007
Source: DLJ Merchant Banking Partners
DLJ Merchant Banking Partners ("DLJMB"), a private equity investment affiliate of Credit Suisse, today announced that it has signed a definitive agreement to acquire Deffenbaugh Industries, Inc. ("Deffenbaugh"), a leading integrated waste services company serving the Midwest. The purchase price was not disclosed. The transaction, which is subject to customary closing conditions, is expected to close by year-end.
Headquartered in Shawnee, Kansas, Deffenbaugh is one of the largest waste management companies in the Midwest and provides collection, transportation, and disposal of commercial and residential waste. The Company currently serves approximately 450,000 customers and owns the 800+ acre Johnson County Landfill, which is one of the largest privately owned landfills in the United States. Additionally, the Company operates one of the largest recycling facilities in the United States, has rock quarrying operations and owns Johnny on the Spot, a portable toilet business. Deffenbaugh serves customers in Kansas, Missouri, Nebraska and Iowa, and maintains a strong waste collection market share in the Kansas City metro area. Deffenbaugh's veteran senior management team will continue to lead the Company.
Mark Rosenau, President of Deffenbaugh said, "We are excited to partner with DLJ Merchant Banking Partners and are confident that they have the expertise and resources needed to further invest in and support the growth of Deffenbaugh. Our customers will continue to enjoy the same superior service Deffenbaugh has provided to the community for 50 years."
"We are pleased to add one of the premier operators in the $52 billion waste management industry to DLJMB's portfolio," said Steven Rattner, Global Head of DLJ Merchant Banking Partners. "Deffenbaugh operates in a consistently growing market and, as a fully-integrated waste services company, is well-positioned to capitalize on further growth in Kansas City and surrounding areas. We look forward to working with Deffenbaugh's talented management team and associates to continue serving the diverse needs of the Company's residential and commercial customers."
About Deffenbaugh Industries, Inc.
Deffenbaugh Industries, Inc. ("Deffenbaugh") founded in 1957, is one of the largest waste management services companies in the Midwest. Deffenbaugh provides efficient collection, transportation and disposal of commercial and residential waste and recycling, construction waste, quarrying, portable toilet, and truck and industrial supplies services. Over its 50 years in operation, the Company has established a reputation for superior customer service and satisfaction. The Company is headquartered in Kansas City and operates in Kansas, Missouri, Nebraska and Iowa with more than 1,900 associates. For additional information, please visit www.deffenbaughindustries.com.
About DLJ Merchant Banking Partners
DLJ Merchant Banking Partners is a leading private equity investor that has a 22-year record of investing in leveraged buyouts and related transactions across a broad range of industries. DLJMB, with offices in New York, London and Los Angeles, is part of Credit Suisse's Alternative Investments business, one of the largest alternative asset managers in the world, with more than $138 billion in assets under management. Alternative Investments, which is part of the Asset Management business, is comprised of a diverse family of funds, including private equity, leveraged buyouts, mezzanine, real estate, secondary funds and fund of funds, as well as the businesses covering hedge funds (both direct and fund of funds), leveraged loan and collateralized debt obligation investment programs, core real estate funds, and quantitative investment and volatility management products.
About Credit Suisse
As one of the world's leading banks, Credit Suisse provides its clients with investment banking, private banking and asset management services worldwide. Credit Suisse offers advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as retail clients in Switzerland. Credit Suisse is active in over 50 countries and employs approximately 40,000 people. Credit Suisse's parent company, Credit Suisse Group, is a leading global financial services company headquartered in Zurich. Credit Suisse Group's registered shares (CSGN) are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
In its Asset Management business, Credit Suisse offers products across the full spectrum of investment classes, ranging from equities, fixed income, and multiple asset-class products to alternative investments such as real estate, hedge funds, private equity and volatility management. Credit Suisse's Asset Management business manages portfolios, mutual funds, and other investment vehicles for a broad spectrum of clients ranging from governments, institutions, and corporations to private individuals. With offices focused on asset management in 18 countries, Credit Suisse's asset management business is operated as a globally integrated network to deliver the bank's best investment ideas and capabilities to clients around the world.
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