Platinum Set to Give Lenders Keys to Cash-Strapped Toilet Leaser

United Site Services Inc., a provider of portable toilets, is nearing a deal to hand over control of the company to some of its lenders after its private equity backer Platinum Equity walked away, according to people familiar the situation.

Clearlake Capital, Searchlight Capital Partners, Oaktree Capital and Apollo Global Management Inc. are among the creditors that would own the reorganized company, said the people, who asked not to be identified discussing a private matter.

The restructuring could happen as part of a bankruptcy filing, but conversations are ongoing and no final decision has been made, the people said. ...