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Meridian Today
By the People, for the People
United Site Services Completes Financial Recapitalization
New capital infusion and optimized balance sheet position company for growth
Published on Mar. 5, 2026
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United Site Services, the largest national provider of portable sanitation services and complementary site solutions in the United States, has successfully completed a comprehensive financial recapitalization. The company reduced its funded debt by $2.4 billion and secured $480 million in new equity financing, $300 million in new-money term loans, a $195 million ABL credit facility, and a $100 million revolving credit facility. This optimized capital structure will enable United Site Services to drive long-term growth and invest in its future.
Why it matters
The financial recapitalization strengthens United Site Services' balance sheet and provides the resources needed to execute on its strategic growth initiatives. As the largest player in the portable sanitation services market, the company's ability to invest in its business and deliver high-quality services is crucial for supporting construction, events, and other industries that rely on its offerings.
The details
Through its Plan of Reorganization, confirmed by the U.S. Bankruptcy Court, United Site Services reduced its funded debt by $2.4 billion and secured significant new capital, including $480 million in equity financing, $300 million in new-money term loans, a $195 million ABL credit facility, and a $100 million revolving credit facility. This optimized capital structure will enable the company to drive strategic growth initiatives and enhance the customer experience.
- On February 27, 2026, the U.S. Bankruptcy Court confirmed United Site Services' Plan of Reorganization.
- The financial recapitalization was completed on March 5, 2026.
The players
United Site Services
The largest national provider of portable sanitation services and complementary site solutions in the United States.
Bobby Creason
Chief Executive Officer of United Site Services.
Milbank LLP
Legal counsel to United Site Services.
PJT Partners
Investment banker to United Site Services.
Akin Gump Strauss Hauer & Feld LLP
Legal counsel to the Ad Hoc Lender Group.
What they’re saying
“We are excited to enter this new chapter as a financially stronger company, well-positioned to drive our strategic growth initiatives forward. With this transition complete, we have enhanced flexibility and resources to deliver the highest quality services for our customers.”
— Bobby Creason, Chief Executive Officer
The takeaway
United Site Services' successful financial recapitalization positions the company for long-term growth and investment in its business. As the industry leader, the company's strengthened balance sheet and access to new capital will enable it to continue delivering high-quality portable sanitation and site services to its customers across the United States.
