Waste Industries Buyout Closes

Goldman Sachs and Macquarie Infrastructure Partners have completed their $544 million take-private buyout of Waste Industries USA Inc. (Nasdaq: WWIN), a regional provider of non-hazardous solid waste services. Waste Industries stockholders received $38 per share.

 

PRESS RELEASE

Waste Industries USA Inc. (Nasdaq: WWIN), a regional provider of non-hazardous solid waste services has received a $36.75 per share buyout offer. The deal would value Waste Industries at just over $518 million.

 

The buying group includes Goldman Sachs, Macquarie Infrastructure Partners, Waste Industries founder and chairman Lonnie Poole Jr. and Waste Industries president and CEO Jim Perry. Waste Industries has formed a special committee to assess the offer, and engaged JPMorgan as an advisor.

 

Waste Industries USA, Inc., a regional, non-hazardous solid waste services company, announced today that it has completed the previously announced going private transaction effective May 9, 2008. The transaction received shareholder approval at a special meeting of the shareholders held on May 8. The investor group behind the transaction is led by Lonnie C. Poole, Jr., the Company's founder and Chairman, and Jim W. Perry, the Company's President and Chief Executive Officer, and includes financial partners Macquarie Infrastructure Partners and Goldman Sachs.

 

Under the terms of the approved merger agreement, Waste Industries shareholders will receive $38.00 per share in cash. Waste Industries shares were de-listed from the Nasdaq stock exchange at the opening of trading today, May 9, and have ceased to trade as a listed company.

 

About Waste Industries USA, Inc.

 

Waste Industries USA, Inc. is a vertically integrated solid waste services company that provides collection, transfer, disposal and recycling services to commercial, industrial and residential customer locations in the states of North Carolina, South Carolina, Virginia, Tennessee, Georgia and Mississippi.