Meridian Waste Solutions, Inc. Completes $13.67 Million Recapitalization; Prepares for Future Growth
MILTON, GA / CRWEPRESSRELEASE / August 11, 2015 /Meridian Waste Solutions, Inc. (OTCMKTS:MRDN) (“Meridian”) today announced that it closed on a $13.67 million, five-year first lien debt instrument that is structured to support future acquisitions. Praesidian Capital (“Praesidian”), a leading provider of senior and subordinated debt capital to small and mid sized companies, provided the recapitalization facility, which closed on August 6, 2015.
“With this facility in place, Meridian is setting the stage to begin its acquisition strategy, which we announced in April,” said Jeff S. Cosman, CEO of Meridian. “Praesidian is partnering with us as we set our plans in motion to grow the company through a focused acquisition strategy. This means having the ability to understand the ‘waste solutions concept’ and take the steps to effectuate the strategy. We are pleased to partner with Praesidian as we build a great regional company.”
Rick Dreger, Attorney (Roswell, GA) and Lucosky Brookman, LLP (http://lucbro.com/) led the company as its corporate counsel. Garden State Securities, Inc. of Red Bank, NJ (http://www.gardenstatesecurities.com/) provided the Investment Banking services for MRDN. Proskauer Rose LLP acted as Praesidian’s counsel.
ABOUT MERIDIAN WASTE SOLUTIONS, INC.
Meridian Waste Solutions, Inc. is focused on solutions in the waste industry. Currently, Meridian operates in St. Louis, MO as Meridian Waste Services, which serves over 40,000 residential, commercial and temporary customers in the St. Louis, MO market. With a fleet of commercial, residential and temporary roll off trucks, Meridian Waste Services provides unparalleled customer service in the form of long-term and short-term contracts. Meridian is striving to acquire companies that offer various solutions in the waste industry and in select markets around the country.
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.
Comments are based on current management expectations, and are considered “forward-looking statements,” generally preceded by words such as “plans,” “expects,” “believes,” “anticipates,” or “intends.” We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update forward-looking statements as the result of new information or future events. We urge investors to review the risks and uncertainties within its filings with the OTC Markets and/or Securities and Exchange Commission.
SOURCE: Meridian Waste Solutions, Inc.