Dive Brief:
- Cleveland, TN-based Santek Waste Services — manager of 17 solid waste landfills, five transfer stations, and waste collection divisions in five states — has purchased Waste Transport Service, based in Elizabethtown, KY. Santek, which projects 2016 revenues of $107 million, established a wholly owned subsidiary to make this purchase, which was for an undisclsoed amount, according to a press release.
- With this deal, Santek takes over Waste Transport’s 14,000 residential customers and 346 commercial and industrial waste collection customers in Kentucky's Hardin, Meade and LaRue Counties. The company is retaining the Waste Transport team, other than owners Wayne and Barbara Smith who are retiring.
- The move will support Santek’s Pearl Hollow Landfill operation, where the waste from the newly acquired customers will be disposed of.
Dive Insight:
“The addition of Waste Transport is a very strategic acquisition for Santek because it gives us the ability to internalize new waste volumes at the Pearl Hollow Landfill and gives us a solid waste collection presence in the Elizabethtown market," said Edward Caylor, chief business development officer.
Establishment of this subsidiary to complement existing operations is one of several recent strategic business moves for Santek in the past two years. Most recently the company completed a $153 million recapitalization to secure a new credit facility. And in 2013 it acquired Trion, GA-based White Sanitation after purchasing two other Georgia waste and recycling companies earlier that year.
The company is anticipating its recent financing, as well as past and newest strategic acquisitions, will position the company for internal growth in collections and landfill operations.
