USS will continue to operate normally and will reduce net debt by $2.4 billion

Company expects to confirm a pre-packaged plan of reorganization in a timely manner with support of more than 75% of eligible creditors

Receives commitments for $120 million in debtor-in-possession financing, up to $480 million in equity financing, a $195 million 5-year ABL credit facility, a separate $100 million revolving credit facility, and $300 million in exit financing from an ad hoc group of existing lenders

Vendors, landlords, and other general unsecured creditors to be unimpaired and paid in full 

WESTBOROUGH, Mass., Dec. 29, 2025 /PRNewswire/ -- United Site Services (the "Company"), the largest national provider of portable sanitation services and complementary site solutions in the United States, announced today that it has entered into a restructuring support agreement (the "RSA") with an ad hoc group of its existing lenders (the "Ad Hoc Lender Group") and the Company's ABL and revolving facility lenders to implement a comprehensive restructuring transaction that will reduce its funded debt levels, strengthen its balance sheet, and build enduring, long-term financial stability. To implement the transaction, United Site Services has filed for voluntary protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of New Jersey.

Throughout this process, the Company will maintain normal operations without disruption and continue to deliver high-quality site services to customers.

"We've been transforming how site services are performed by setting best practice standards for over 25 years—this milestone ensures we continue leading the industry for the long run," said Bobby Creason, Chief Executive Officer. "This process will strengthen our foundation: reducing our net debt, providing a significant amount of new capital to invest in our people and operations, and giving our Company the financial flexibility to lead from strength. Going forward, our Company will be bolstered by $1.1 billion in new capital, including $480 million of equity committed by our existing financial stakeholders, demonstrating their continued support of our business and its long-term success. I thank our dedicated employees, our loyal customers and partners, and our supportive lending partners."

The Company has received commitments for $120 million in debtor-in-possession financing from members of the Ad Hoc Lender Group, which will be used to maintain normal business operations, including payments to employees and trade creditors, and support the business through the Chapter 11 process.

In line with the RSA, the Company has begun to solicit votes on a pre-packaged plan of reorganization and has obtained the support of more than 75% of voting creditors. Upon confirmation, existing lenders who have signed the RSA will fund a $480 million equity rights offering, a $300 million term loan, and existing banks will provide a $195 million 5-year ABL credit facility and a separate $100 million 5-year revolving credit facility, reflecting strong stakeholder support for the proposed restructuring.

The Company expects to seek confirmation of the plan of reorganization and emerge from Chapter 11 within a timely manner. United Site Services will emerge under the majority ownership of the Ad Hoc Lender Group, with a healthy and more sustainable financial structure to drive long-term growth.

The Company has filed "first day" motions to obtain the requisite court authority for the Company to continue operating its business in the ordinary course without disruption to its customers, vendors, suppliers, or employees. As part of these first day motions, the Company has sought court approval to continue to pay all valid amounts owed to vendors and suppliers as they come due as well as the authority to make timely payments to vendors, suppliers, and other trade creditors in full under normal terms for goods and services delivered before the filing. In addition, the Company expects that employees will continue to receive their usual wages and benefits without interruption.

Additional information on the Company's Chapter 11 case can be found at www.veritaglobal.net/USS. Stakeholders can also contact Verita, the Company's noticing and claims agent, at 877-634-7164 (for toll-free U.S. and Canada calls) or 424-236-7220 (for tolled international calls).

United Site Services is advised in this matter by Milbank LLP as legal counsel, PJT Partners as investment banker, Alvarez & Marsal as financial advisor, and FTI Consulting as communications advisor. The Ad Hoc Lender Group is advised by Akin Gump Strauss Hauer & Feld LLP as legal counsel and Centerview Partners LLC as financial advisors.

About United Site Services

With over 140 locations coast-to-coast, United Site Services is the nation's largest provider of portable sanitation services and complementary site solutions in the United States, including portable restrooms and trailers, hand hygiene stations, temporary fence and more. Learn more at www.unitedsiteservices.com.

Media Contacts

Rachel Chesley / Misha Ross
USSCommunications@fticonsulting.com

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the U.S. Securities Exchange Act of 1934 that are not based on historical facts and are not assurances of future results. These forward-looking statements are based on management's current expectations and estimates about future events and financial trends, which affect or may affect the Company's businesses and results of operations. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect" and similar words are intended to identify estimates and forward-looking statements. These statements include but are not limited to forward-looking statements about the planned Chapter 11 process. Although the Company believes that these forward-looking statements are based upon reasonable assumptions, these statements are subject to several risks and uncertainties and are made in light of information currently available to the Company. Estimates and forward-looking statements involve risks and uncertainties and are not guarantees of future performance. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations and the Company's future results may differ materially from those expressed in these estimates and forward-looking statements.

All forward-looking statements are expressly qualified in their entirety by this cautionary statement, and you should not place reliance on any forward-looking statement contained in this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events or for any other reason.

Not a Solicitation

This press release does not constitute an offer to sell or buy, nor the solicitation of an offer to sell or buy, any securities referred to herein, nor is this press release a solicitation of consents to or votes to accept any chapter 11 plan. Any solicitation or offer will only be made pursuant to a confidential offering memorandum and/or disclosure statement and only to such persons and in such jurisdictions as is permitted under applicable law.

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SOURCE United Site Services Inc.