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Trash Butler cleans up with WellKept deal
Posted on Wednesday, 21 October 2020 12:00
Trash Butler has acquired US-based WellKept, a provider of valet trash services.
No financial details were announced.
The acquisition strengthens the buyer’s position as the second-largest doorstep trash and recycling valet pickup provider in the US.
As a result of the deal, Trash Butler has nearly doubled its size, accelerating its expansion and market share across the country.
In addition to the transaction, the group has secured a strategic partnership with a large Fortune 500 company, which will give the business access to more than 1,000 salespeople nationwide and help scale up its growth and relationships in the multi-family housing industry.
Texas-headquartered WellKept provides valet trash and property services to customers across the state and the southeastern US.
Its offerings include recycling programmes, pressure washing and junk removal operations.
Nick Friedman, co-founder of the buyer, said: “This new acquisition and strategic partnerships give Trash Butler optimal positioning for further growth, increased economies of scale, and market coverage.
“We are very grateful for the opportunity to partner with the industry leaders in multi-family management to increase their client’s NOI [net operating income] while also improving their resident experience and retention.”
Trash Butler provides trash and recycling services to customers in 35 states throughout the US and services over 30.00 million homes annually.
In April 2019, the company raised USD 5.00 million through a series A funding round, which included participation from Florida Funders and other undisclosed investors.
At the time, Trash Butler said it would use the proceeds to fund its operational growth and national sales expansion, among other considerations.
There have been 316 deals targeting waste management and remediation services providers announced globally since the beginning of 2020, according to Zephyr, the M&A database published by Bureau van Dijk.
In the largest of these, KKR, via Planets UK Bidco, acquired Exeter-based Viridor for GBP 4.40 billion.
© Zephus Ltd