ROCK HILL, S.C., Oct. 5, 2016
As the M&A market in South Carolina continues to benefit from middle market mergers a seen here, two major waste service companies join forces here in Rock Hill proving M&A markets remain strong for South Carolina companies.
What is M&A?
First, let’s get this out of the way….Mergers and acquisitions, or M&A are the consolidation of companies. Yet, the term is twofold.
Mergers refer to two companies become one while acquisitions imply that one company is taking over another.
The consolidation of companies happens for a number of reasons. Sometimes a company is failing and gets bought out by another company as their exit strategy. Other times the combination of two companies in the same industry, for example, can create one company with maximized value.
In the end, M&As benefit both companies financially by bringing more power, more efficiency, and value to that area of the industry.
The merge of both locally-owned companies was facilitated by Viking Mergers & Acquisitions, a M&A firm that has been serving middle market business owners in the Carolinas for over 20 years.
Morningstar Waste Services is a family-owned business that was founded in 1994 with the purpose of providing Rock Hill residents with waste management and garbage pickup services.
Liberty Waste Services started in South Carolina in 2013. With a team with over 3 generations of quality service and experience in the waste removal market, Liberty continues to grow and serve York and Lancaster Counties.
Morningstar’s seller, Brian Brown, said after 12 years of managing the business that he was “ready to move on” and pursue new endeavors. The acquisition happened within a week with an offer from Liberty Waste Services, said Brown, after contacting Viking Mergers.
Liberty Waste Services was in the market to acquire a successful waste management business within their territory, and Morningstar fit the bill. Brown is pleased with the deal and says that Liberty is a great fit.