Livingstone Hauls in Deal for Emerald Waste Services
March 2011
Livingstone, the leading international investment banking firm, is pleased to announce that its client, Emerald Waste Services, LLC, (“Emerald” or the “Company”) has sold certain solid waste hauling and transfer station assets to WCA Waste Corporation (“WCA”) (NASDAQ: WCAA). Livingstone acted as exclusive financial advisor to Emerald. Terms of the deal were not disclosed.
Emerald is a leading regional non-hazardous solid waste management company engaged in collection, transport, transfer, and disposal services to approximately 139,000 commercial, residential, and roll-off customers across 21 counties throughout Florida, Mississippi and Alabama.
WCA is a vertically integrated, non-hazardous solid waste management company providing collection, transfer, processing, and disposal services in the south and central regions of the United States.
WCA acquired the Company’s central Florida transfer station and hauling operations consisting of 117 residential, commercial and roll-off routes servicing seven counties in Gainesville, Orange City and Daytona Beach. The total assets being acquired generate approximately $31 million of annual revenue and consist of 220 employees.
“We’re proud to have advised Emerald on a successful and strategic sale transaction, and to post another closing with a strategic acquirer,” commented Livingstone partner and Environmental Services sector head Steve Miles. “Consistent with WCA’s growth strategy, Emerald provides a strong foothold in the central Florida waste market.”
Emerald is a legacy client of the firm, and the deal closing represents another in a long line of significant transactions in the waste sector. Livingstone’s professionals have previously advised on the sales of Interstate Waste Services and Winters Bros., and are currently active on three other engagements in this rapidly rebounding and robust market.
For further information contact:
Steve Miles
T: 312 670 5901
E: miles@livingstonepartners.com
