Casella Waste Systems Inc. of Rutland, Vermont, has announced it signed an agreement to purchase select solid waste assets in Albany, New York, and Cheshire, Massachusetts, from certain subsidiaries of the Phoenix-based Republic Services Inc.
Financial details of the transaction were not disclosed.
The target assets to be acquired generate approximately $30 million of annualized revenues, Casella says. The transaction is expected to close by the end of the third quarter and remains subject to customary conditions precedent to closing.
“We are excited to work with Republic and their employees to successfully close this acquisition in an efficient manner,” says John W. Casella, the chairman and CEO of Casella Waste Systems. “These markets are a natural fit to our existing operations, and we look forward to welcoming Republic’s hard-working employees to our team and maintaining the same excellent service standards for their customers.”
This announcement is Casella's fourth regarding acquisitions this month. On June 6, the company announced it would be acquiring three solid waste businesses in Maine, Massachusetts and Vermont.
The transactions, which all closed in May, included the acquisition of Waterboro, Maine-based D&E Rubbish Removal Inc., the assets of Wilbraham, Massachusetts-based Bin Dump’n Trash and the stock of Shaftsbury, Vermont-based TAM Inc. and its wholly owned and related subsidiaries. In total, Casella says it expects to generate approximately $11.5 million of annualized revenues from these acquisitions.
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