Firmament Recapitalizes Whitecap Waste

NEW YORK, May 14, 2024 /PRNewswire/ -- Firmament, a provider of structured equity capital solutions to small- and medium-sized enterprises, announced today its strategic investment in Whitecap Waste, one of the leading waste collection service companies in southern West Virginia. Whitecap Waste represents Firmament's 8^th platform investment in environmental services since inception.

Whitecap Waste is one of the leading regional providers of solid waste collection services in West Virginia and provides residential, commercial, and industrial waste collection services to over 30,000 customers throughout its footprint. Founded in 2020, Whitecap Waste expanded through the consolidation of three solid waste companies in its footprint: Beckley Garbage, Oak Hill Garbage, and Dave's Sanitation. Whitecap Waste is led by Michael Schmidt, who will remain as President of the company post-close.

Firmament's investment will enable Whitecap Waste to continue its growth in existing markets, expand its operational capabilities, and enter new geographies. Through this strategic partnership, Whitecap Waste will gain access to Firmament's talent network, financial resources, and expertise in the environmental services sector.

Brian Peters, Principal at Firmament, expressed his enthusiasm about the investment, stating, "We are excited to partner with Whitecap Waste, one of the leading platforms in the solid waste space. Together, we are committed to providing quality service and supporting growth." Andy McNeill, Operating Partner at Firmament, added, "West Virginia is an underserved waste market which stands to benefit from our investment. Through our partnership, we strive for operational excellence and aim to drive continued growth in the solid waste industry."

Michael Schmidt, President of Whitecap Waste, stated, "This investment from Firmament reaffirms the hard work and dedication of the entire Whitecap Waste team. We are excited about the possibilities this partnership brings, and we look forward to advancing our mission of building a great company and while continuing to provide superior service to our customers."

About Whitecap Waste:
Whitecap Waste (https://whitecapwaste.com/) is a solid waste collection company that services residential, commercial, and industrial customers in West Virginia. Whitecap Waste is committed to providing reliable, efficient and timely service, while protecting the natural beauty of West Virginia.

About Firmament:
Firmament (www.firmament.com) provides control equity, minority equity and growth debt capital to lower-middle market businesses primarily in three core industry verticals: Technology, Healthcare and the Environment. Within these verticals, we make investments in service, software and specialty-manufacturing companies with significant scaling potential. We seek to be a value-added partner to entrepreneurs, management teams, and business owners, and curate solutions by deploying versatile capital in a user-friendly way. With offices across the United States, Firmament is focused on turning small business into big business.

Media Contact: 
Isabella Schepel
[email protected]

SOURCE Firmament