Wall Recycling Announces Sale of Scrap Metal Division to Foss Recycling

Company to Strategically Focus on Core Waste Business

RALEIGH, N.C., April 17, 2024 /PRNewswire/ -- Wall Recycling, LLC (the "Company" or "Wall Recycling"), a premier provider of waste and recycling solutions, today announced the sale of its scrap metal recycling operation (the "Scrap Metal Division") to Foss Recycling. The transaction allows Wall Recycling to strategically focus on its core integrated waste operations. Financial terms of the transaction were not disclosed.

Dustin Hill, Chief Operating Officer of Wall Recycling, stated, "This transaction is a win-win. Wall Recycling remains committed to being the premier provider of waste and environmental services in North Carolina and can now dedicate more resources to our core and growing integrated waste operations. At the same time, we believe the Scrap Metal Division will continue to thrive under the new ownership of Foss Recycling, leveraging its expertise and resources to further expand its reach and capabilities for the benefit of its customers.

"We are proud of our legacy and reputation as a trusted leader in the recycling industry, and we extend our gratitude to the employees, customers, and stakeholders associated with the Scrap Metal Division for their dedication and support over the years," Mr. Hill continued. "All parties are committed to ensuring a seamless transition."

Wall Recycling is backed by industrial-focused private equity firm Allied Industrial Partners ("Allied"). The Company plans to be acquisitive and will look to build upon its strong waste platform while maintaining its leadership in the North Carolina market.

"We are proud to support the Company in this important transaction," said Bradford Rossi and Philip Wright, Managing Partners of Allied. "This is a significant and strategic step in Wall Recycling's evolution and positions the Company for its next phase of growth."

About Wall Recycling

Wall Recycling is a premier provider of integrated waste and recycling solutions in North Carolina. With a commitment to sustainability and innovation, Wall Recycling provides full-service waste management for both commercial and consumer customers. For more information, visit wallrecycling.com.

About Allied Industrial Partners

Founded in 2019, Allied Industrial Partners LLC ("Allied") is a lower and middle-market private equity firm that thematically invests in high-growth companies within various industrial subsectors, including industrial rentals, manufacturing, distribution, environmental services, and critical infrastructure. Allied seeks to partner with experienced management teams that can benefit from its operational enhancement capabilities and active, hands-on involvement, allowing the firm to execute buy-and-build strategies. For more information, visit alliedindustrialpartners.com.

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SOURCE Allied Industrial Partners