(Corrects paragraph 1 to add dropped word in Macquarie's name)
Dec 18 (Reuters) - Waste Industries USA Inc WWIN.O said it agreed to be taken private by an investor group, which includes members of its management team, Goldman Sachs (GS.N) and Macquarie Infrastructure Partners, for $38 a share.
The offer price represents a premium of about 28 percent to the stock's closing price of $29.69 on Monday.
Shares of the company rose more than 20 percent and were trading at $35.66 in morning trade on the Nasdaq.
Waste Industries is a solid waste services company that collects, disposes and recycles trash throughout the U.S. South East.
The total equity value of the transaction including the investment to be made by the investor group, is valued at about $544 million, the Raleigh, North Carolina-based company said in a statement.
The offer was raised from an initial offer of $518.5 million the group made in October.
The investor group is led by Lonnie Poole, the company's founder and chairman and Jim Perry, president and chief executive.
The transaction is expected to close in the first half of 2008, Waste Industries said. (Reporting by Nachiket Kelkar in Bangalore; Editing by Jarshad Kakkrakandy)