SC&H Capital completed a sale of the assets of E-Box’s roll-off dumpster rental operation to Baltimore-based K&S TE, LLC.
Based in Memphis, TN, E-Box is a roll-off dumpster rental operation with 39 trucks and more than 2,200 dumpsters for construction and demolition material removal and recycling. Founded in 2002, the company provided services to residential and commercial contractors and the public before filing for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Western District of Tennessee, Western Division, in 2022 following the passing of the company’s owner.
In November 2022, E-Box retained SC&H Capital’s special situations team as its exclusive court approved investment banker to oversee the sale process. The objective was to identify a buyer to continue servicing the company’s customer base and employing its 36 employees. The team at SC&H Capital conducted a marketing process that generated seven bidders to participate in an auction of the company’s assets, six of which sought to operate the business as a going concern. The auction culminated in a successful bid from K&S.
“We are extremely pleased the company will continue to operate as a going concern with its existing employee base and that the estate received a higher than anticipated recovery,” Hank Waida, principal at SC&H Capital said. “The sale process identified a mix of financial, strategic and equipment bidders that nearly doubled the initial stalking horse bid.”
Other professionals who worked on the transaction included Craig Geno of the Law Offices of Craig M. Geno as counsel for E-Box; Dustin Lough of CR3 Partners as chief restructuring officer for E-Box; Bob Mimms, CPA for E-Box; and Gary Leibowitz of Cole Schotz as counsel for K&S.
