Taking out the trash may seem like a chore, but for Wastequip, it’s big business. The company manufactures many of the common trash cans consumers use every single day, but it also manufactures a large variety of steel containers, compactors, and vacuum truck systems that are used across a variety of industries.
“The company was founded in 1989,” explains Wastequip CEO Marty Bryant. “At that time, the focus was on the steel container side of things. But around 2007, Wastequip started to grow larger, integrate, and buy new brands.
“Today, Wastequip is the leading manufacturer of waste handling and recycling equipment in North America. We specialize in products, systems and solutions to collect, store, transport, and manage a wide range of waste and recyclables. We’re one of the few companies that manufacture a complete line of both steel and plastic waste handling equipment.”
Wastequip’s extensive product selection includes dumpsters, compactors, balers, carts and more. The company’s brands include Wastequip, Toter, Galbreath, Pioneer, Accurate, Cusco, Mountain Tarp and Go To Parts.
“In June 2012, New York-based private equity firm Centerbridge Partners purchased the company,” continues Bryant, “and I came to Charlotte along with that transition.”
The Charlotte headquarters started out with 28 employees, but that number has grown significantly to nearly 80 professionals, with more than 1,600 nationwide. Bryant attributes much of this growth to the company’s team-based strategy developed in 2012.
“I joke all the time that the CEO is the least value-added position in the company,” laughs Bryant. “Prior to June of 2012, the company was run as one large entity, so we had all the corporate-type functions in a matrix-style formation. So the leader was here and responsible for all the sales people, the company, and so on. Upon Centerbridge’s purchase of Wastequip, one of the first things we did was break that up into independent divisions in order to shrink the size of corporate.”
In fact, in November of 2014, the company’s headquarters underwent a massive renovation to assist in furthering the breakup of a ‘corporate mentality’ by removing dividers and offices so that all employees, including the CEO, are now all accessible in one large floor space. In addition, the few offices that the company now has are almost all glass-enclosed in order to promote openness and transparency.
Part of the reason for this is that Bryant himself started from the bottom and worked his way to the top, so he understands the feelings and needs of his staff. After serving in the military during Operation Desert Storm, Bryant returned to the United States and took a job as a janitor, later working on a Johnson Controls assembly line while attending college.
He explains, “For me, it’s a privilege that I don’t ever take for granted to be the CEO. Also, I’m biased, of course, but our private equity firm is one of the best to work for in terms of a management team. So, I handpicked Wastequip to campaign to become the CEO of, and part of the reason for that was that Wastequip was and is a good, solid blue-collar company.
“The waste industry itself is fascinating in that if you really could imagine for a little while if no one picked up garbage or efficiently processed waste…Wow!” He continues, “Additionally, the waste industry has an amazing history in the United States, including Martin Luther King Jr. and the 1968 garbage workers strike. We’ve made huge strides in American manufacturing.”
As a result of Wastequip’s changes, the company currently occupies the number one space in its industry for a variety of products, and Bryant states that the only reason that some products are in the number two space is because of the lack of a need to grow into certain areas at the moment.
Wastequip is set to take over a number of segments, but for now, the company is working on a strategy that runs very deep, and that strategy includes evaluating safety, efficiency and employee satisfaction.
“We do take our management very seriously, and we’re also serious about our safety culture and employee happiness,” states Bryant. “The first money spent upon acquiring Wastequip went toward upgrading bathrooms and breakrooms, things that really matter to our employees. We also haven’t raised our insurance rates since 2012, and this year, we expect to reduce costs a bit further.”
In the waste disposal and treatment industry, most large companies have several facilities in a geographical area, but due to Wastequip’s footprint across North America—including plants in the United States, Mexico, and Canada—it can service national brands easily.
In fact, last year, Republic Services, a respected waste services provider, struck a deal with Wastequip to only buy steel containers from the company, something that Bryant says speaks volumes about Wastequip’s ability to deliver quality products and superior service.
Positioning Itself Strategically
Bryant is definitive on the company’s North Carolina location: “While Wastequip was headquartered in Charlotte in 2012 at the time of our purchase, we had the opportunity to move the company anywhere in the United States, but we stayed here for a multitude of reasons. You can be at the beach in a few hours, you can be in the mountains in a few hours, you’ve got great arts and entertainment here.
“Opportunities as far as education abound, and it’s one of the fastest growing cities in the country. We have yet to call and recruit someone and say we’re from Charlotte and it’s not a bonus, whether they’re in New York, Los Angeles, or anywhere in between.”
Aside from selecting great employees and managing staff like pros, Wastequip also has an eye for the long term. In the past, the company only offered steel containers, but now, it is concerned with everything from how to collect waste to where it’s going for recycling, waste energy, and landfill transfer.
Wastequip has products to suit individual consumers, small business owners, all the way up to the larger commercial side with its steel containers. And it also provides hoist truck components that pick up the steel containers, tarps that secure waste in trucks, compactors that require fewer pickups, vacuum trucks that work in oil and gas exploration, and a parts division that services all of its products.
“As the company has split itself into divisions and brands,” comments Bryant, “it has not only grown in size, but also in customer base, and experienced the synergies of vertical integration.”
“Marketing our brands includes direct sales employees who are long-term waste industry veterans, but we also market to authorized dealers who are exclusive to us. Then again, with Toter, for example, we market through retail in stores like Lowe’s and Home Depot,” says Bryant.
“So, we go across all three of those depending on what’s best for the specific brand. However, our new parts division that launched in 2014 (www.gotoparts.com) is taking off, and customers can order directly from the website, making it a huge plus for both Wastequip and its customers.”
The company has also helped customers by building brand loyalty—creating products that customers need before customers even know they need them. Constantly creating and innovating, Wastequip’s research and development team looks through customer feedback surveys in order to find out what works and what doesn’t.
On top of that, the company is working with UNC Charlotte on a new way to address consumer convenience issues, signaling a major shakeup in the way that waste is processed.
Bryant continues, “When it comes to building brand loyalty, our research and development team works very hard to constantly create new and innovative products for our customers, but also, the main part of our core business is that we take our customer service seriously. When a customer has worked hard to earn a dollar, and he or she has decided to share that dollar with us, we truly value that, and as a result we have to ensure quality products are delivered on time, every time.”
“Our Galbreath hoist systems and Pioneer tarp systems are by far the most preferred in the industry,” Bryant adds, “and that’s why we hold command positions with those products…that’s something we’re very proud of.”
Waste Disposal and the Future
In order to keep up with advances in waste disposal technology, Wastequip has already taken steps to maintain the lead. The company’s Galbreath brand above-frame hoist allows customers to rapidly switch to compressed natural gas, and the switch to natural gas is a trend that the waste disposal industry is quickly adopting due to its lessened impact on the environment.
“Additionally, Wastequip is supplying intermodal containers that are steel and leak-proof to commercial customers in New York City to remove trash and ship it on barges in order to reduce pollution,” says Bryant.
“If you think about it, every segment of every industry produces some type of waste, so there’s no limit to who we can serve. We sell a lot to haulers that are serving every industry from health care to schools to private homes. A lot of our Toter products are sold to government, and Cusco products, provided by our vacuum truck systems division, are used heavily in the oil and natural gas industries.”
To meet the growing need for waste disposal, transport and processing into the future, Wastequip is taking a very active role in selecting employees. The company is focusing heavily on human resources, an area that has not been broken out like its other divisions, and candidates are heavily screened not only to see if they fit the culture of Wastequip, but also to see if Wastequip is the right fit for the candidate.
Bryant continues, “Supervision is team-based; we pay attention to how many supervisors we have. We try to keep the organization as flat as possible. Measuring success, on the people side, we do an annual, anonymous survey to see where concern areas are. For two years in a row, Wastequip’s Charlotte headquarters has been selected as one of the best places to work in the city by the Charlotte Business Journal, and that means a lot, not only for professional success, but also in personal satisfaction.”
Going forward, Bryant is excited about the manufacturing sector. In the waste industry, he says that keeping communities healthier, safer, and more beautiful is a major priority, but he views things on a nationwide basis.
“The waste industry will expand as populations grow, not only in the United States, but across the world, and there will always be a need for professionals to collect, process, and dispose of waste. Additionally, technology is making it so that consumers have to think less and less about their disposal choices while taking still caring for the environment,” Bryant points out.
“There are a lot of inventors out there, and that’s good for the industry. The fact is, you’ve got a core set of products that are always going to be there, but you also have fringe products that are helping to move things forward. The industry is getting more sophisticated.
“For example, many garbage trucks today have GPS tracking, and they can measure the amount of trash in a can so they can be routed more efficiently. Technology is definitely a major factor, and we are fully embracing innovative ideas.
“We’ll continue to stay organic in our drive to bring in new customers, but with the launch of our parts division at gotoparts.com, I’m sure we’ll drive additional business as well,” comments Bryant.
“We’ll also continue to expand into new services, and we’re always evaluating acquisitions that make sense for us as a company.
“It’s a great time to do business in the Carolinas!”