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Farlie Turner Advises K.R. Drenth Trucking on Recapitalization with Private Equity Firm

By: - Date: 10/22/2010

FORT LAUDERDALE, Fla. -- Fort Lauderdale-based investment banking firm Farlie Turner & Co. announced today that it had served as exclusive financial advisor to K. R. Drenth Trucking, Inc., (“KRD”) on its recent recapitalization. KRD is an Illinois-based provider of outsourced, long-hauling waste transportation. Hammond, Kennedy, Whitney & Company, Inc., an Indianapolis-based private equity firm, provided the equity financing for the recapitalization. 

“This recapitalization provides KRD with a financial partner that will enable them to take advantage of significant growth opportunities,” said Craig Farlie, a Managing Director of Farlie Turner. “In partnership with Hammond, Kennedy, Whitney & Company, KRD is well positioned to continue its strong organic growth trajectory.”

“Farlie Turner helped us reach a goal we had in mind for a number of years: to bring in additional equity capital to help grow our business,” stated KRD President Tom Manzke. “They added significant value from beginning to end, not only due to their strong process skills, but also through their extensive environmental industry knowledge and contacts.”

KRD is one of the largest providers of outsourced, long-haul waste transportation services in the United States. The Company transports solid waste over long distances from transfer stations to landfills throughout the Midwest, West, Midsouth, and Southeast parts of the United States. KRD also operates waste transfer stations for its customers. The Company provides heavy equipment and staffing for unloading clients' local waste collection vehicles and loading KRD long-haul vehicles. For more information on KRD please visit www.krdtrucking.com.

Terms of the transaction were not disclosed.

About Farlie Turner & Co., LLC

Farlie, Turner & Co., LLC, and its affiliate Bayshore Partners, LLC, a broker-dealer registered with FINRA, provides growth-oriented middle market firms with merger and acquisition, private placement, and financial advisory services. The firm has extensive experience across a broad range of industries, including environmental services, food and beverage, oil and gasfield services, business and consumer services, healthcare, distribution and others. In addition, the firm’s Special Situations Group provides a full range of investment banking services to middle market companies experiencing financial difficulties, ranging from underperforming companies to those in significant distress. Please visit www.farlieturner.com for more information.

About Hammond, Kennedy, Whitney & Company, Inc.

Hammond, Kennedy, Whitney & Company, Inc. is a private equity firm founded in 1903 and headquartered in New York, NY with an office in Indianapolis, IN. Over the past 28 years, Hammond, Kennedy, Whitney & Company has sponsored 38 platform management buyouts of small middle-market companies throughout North America as well as 37 add-on acquisitions. For further information about Hammond, Kennedy, Whitney & Company and its portfolio companies, investment strategy, and team, please visit www.hkwinc.com.

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