Dive Brief:
- Florida-based National Waste Management Holdings (NWMH) — focused on C& D collection, hauling, and recycling — has acquired Bainbridge, NY-based Waste Recovery Enterprises for $250,000.
- NWMH projects the transaction will generate over $1.5 million annually, with gross profit margins of about 45%.
- Waste Recovery Enterprises serves industrial and residential clients in the Northeastern U.S., providing trash pickup, dumpster service, and roll-off boxes for construction and cleanout projects.
Dive Insight:
The solid waste management company’s expansion provides it with a northeastern presence and a platform to expand into key waste markets.
Jeff Chartier, president of National Waste Management, said the acquisition "is consistent with our business strategy to acquire facilities that increase our geographic footprint, augment services to existing customers and attract new customers in under serviced markets."
Its growth strategy of market and platform expansion is similar to the direction of other solid waste management companies, such as Woodlands, TX-based Waste Connections who this year announced plans to acquire a Minnesota-based disposal company. Waste Connections projects that the investment, coupled with "tuck-in" acquisitions of collection operations, will yield a 5% revenue growth in 2016.
