Dive Brief:
- Gold Medal Services LLC, a Deptford, NJ waste and recycling firm, has bought most of the assets of two smaller firms. It acquired the bulk of assets of Casworth Enterprises Inc., and recycler Blue River Resources LLC. Terms were not disclosed.
- Gold Medal’s Deptford, NJ Hauling Division now will be Casworth Enterprises’ home for its operations. Casworth provides residential and commercial waste collection services in southern New Jersey. Blue River Resources owns a material recovery facility in Wilmington, DE, which handles commercial and residential waste but also is permitted to handle construction waste.
- The company is upbeat about the acquisitions. "Casworth Enterprises grows and expands our hauling operations in New Jersey," said Glen Miller, CEO of Gold Medal Services. "The Blue River MRF opens up an expanded market and increases our capacity for recovery of sustainable materials and landfill diversion."
Dive Insight:
Gold Medal Services’ recent acquisition follows a trend of companies in the industry seeing opportunities in buying other firms. Since prices for recyclables are lower these days due to various factors, the industry is struggling a bit. Gold Medal’s acquisitions and other acquisitions in the industry could help to stabilize it.
