News

November 17, 2008

Norwest Mezzanine Partners Invests $23.7 Million in Southern Waste Services

NMP and ShoreView Industries Partner for First Investment Together

Minneapolis, Minnesota – Norwest Mezzanine Partners (NMP), a leading middle market mezzanine investor, today announced that it has invested $23.7 million in subordinated debt and equity in Southern Waste Services, Inc., a provider of environmental emergency response and remediation services for industry and government. Southern Waste Services is a portfolio company of ShoreView Industries, and the investment by NMP helped support the add-on acquisition of Eagle Construction and Environmental Services L.P. (“Eagle”).

“We are extremely pleased to have been able to partner with the ShoreView team and support the growth of their investment in Southern Waste Services. The combination of SWS with Eagle is very exciting and positions the new company as the leading service provider in the southeast,” stated Carter Balfour, NMP Partner.

Southern Waste Services, first incorporated in 1990, has grown from a small local, family-owned environmental firm to one of the premier emergency response and environmental service contractors in the United States. Based in Panama City, Florida, Southern Waste Services operates from 17 service centers located in Florida, Georgia, Alabama, Kentucky, and Tennessee. The acquisition of Texas-based Eagle gains Southern Waste Services an additional 10 service centers and helps broaden its geographic footprint in the Southern and Midwestern states. Together, Southern Waste Services and Eagle will be leaders in their industry.

Southern Waste Services offers a broad range of capabilities that include: Emergency Spill Response for Petroleum & Chemical Products, Hazardous Materials, Hazardous Wastes and Bio-Hazardous Wastes, Industrial Maintenance Services, Vacuum Truck Services, Remediation, Training, and Disaster Recovery & Cleanup.

For more information on Southern Waste Services, please visit www.swsefr.com.

About ShoreView Industries
Based in Minneapolis, Minnesota, ShoreView Industries manages $600 million in private equity funds. ShoreView invests this partnership in established, middle-market companies with operations in North America, across a wide range of industries. ShoreView structures a variety of acquisition, recapitalization and build-up transactions, typically in businesses with revenues ranging between $20 and $150 million.