Dive Brief:

• Colorado-based Apex Waste Solutions, a portfolio company of private equity firm Kinderhook Industries, recently expanded via two acquisitions that now make it a vertically integrated company in the region.
• The first is Twin Enviro Services, based in Steamboat Springs. The company has two landfills, three hauling locations, a MRF and a composting facility.
• The second deal is the purchase of three hauling sites and one transfer station from WM, also in the Steamboat Springs area. Financial terms were not disclosed for either deal.

Dive Insight:

Apex has expanded quickly since partnering with Kinderhook late last year, completing four acquisitions to date and growing to more than 300 employees. The company now touts itself as the largest independent hauler in Colorado.

“Apex is thrilled to welcome the Twin Enviro and WM teams into its growing family of operating sites across Colorado,” said CEO Scott Lukach in a statement. “These transactions add density in existing markets as well as entrance into adjacent geographies and post-collection infrastructure to our business.”

Members of the current management team, including Lukach and Chief Operating Officer Scott Jenkins, purchased what was then known as Little Dumpsters in 2021. The company rebranded as Apex in April 2023. It now services an estimated 100,000 customers in seven markets, including Denver and Colorado Springs. Jenkins previously managed WM’s operations in Colorado.

The acquisition of select WM assets, first reported by Steamboat Radio, is notable in part because the national company doesn’t often do such deals.

“Former WM employees from the affected sites have been offered positions with Apex and we wish them the best as they continue their career journeys in the waste industry,” said a spokesperson via email.

The acquired hauling assets cover the Divide, Steamboat Springs, Gypsum and Vail areas. They service a mix of residential, roll-off and commercial accounts. The acquired transfer station in Divide is considered complementary to other deals that Apex did this spring, such as the purchase of a broader company that included Teller County Waste.

These latest deals mark a notable expansion of Apex’s footprint and create a vertical integration opportunity for its disposal volumes. Twin Enviro’s Milner Landfill in Steamboat Springs accepted 48,335 tons of material last year according to state records. The U.S. EPA estimates the site has multiple decades of capacity remaining. The company’s Phantom Landfill, located near Cañon City, accepted 42,265 tons of material last year. 

In addition to the landfill, Twin Enviro’s Milner Mall complex also includes a MRF, composting facility and reuse center.

The company was owned by Les Liman, who told Steamboat Pilot & Today that he spent more than 50 years in the industry. Liman sold a prior operation to WM before starting the company that became Twin Enviro, which grew to have an estimated 60 power units according to federal records. Liman said he intentionally avoided selling to a large company again and decided to go with Apex.

Part of Apex’s pitch in the Denver and Colorado Springs areas — which saw multiple haulers subsumed in recent years by WM, Republic Services, Waste Connections — was that it’s based locally. This is different than some national companies that use centralized call centers or automated customer service options. While Apex does have some municipal contracts, its business also relies on open market residential and commercial clients that can choose their hauler.

“The team’s differentiated approach to service and dedication to its markets have created an exciting platform. The company is well positioned to continue to grow across its Colorado footprint,” said Rob Michalik, managing director at Kinderhook, in a statement.