Livingstone Heats up Environmental Services Sector
September 2007
Livingstone is pleased to announce the sale of its client, Winters Bros. Waste Systems, Inc (“Winters Bros.” or the “Company”), to BFI Canada Income Fund’s subsidiary, IESI Corporation (“IESI”), one of the largest non-hazardous solid waste management companies in North America. Transaction terms were not disclosed.
Winters Bros. is a leading integrated provider of non-hazardous solid waste management services, including collection, transfer, recycling, hauling, and disposal throughout Nassau and Suffolk counties on Long Island, New York. Through its two collection operations and nine transfer stations, the Company currently services more than 20,000 municipal solid waste customers, as well as thousands of construction and demolition customers.
Winter Bros. has been an active consolidator in the Long Island marketplace, closing over 20 acquisitions in the past several years. The Company’s proficiency in identifying and negotiating strategic acquisitions within its primary markets and integrating those businesses and synergies into its existing operations has enabled it to become Long Island’s largest waste management business. The Company was principally owned and operated by the Winters’ family, which has been active in the waste management industry in Long Island and Vermont since the 1950’s.
Joe Winters, President and Chief Executive Officer of Winters Bros., said, "We look forward to growing together with IESI, a strategic and high-quality organization, while continuing to provide the reliable waste removal services our customers have come to expect."
"Winters Bros. represents an extremely strategic opportunity for our company," said Keith Carrigan, Vice Chairman and Chief Executive Officer of BFI Canada Income Fund. "We believe Winters Bros. offers a platform which will operate with IESI's existing transfer and landfill assets to enhance our market-focused strategies within this region." Mickey Flood, President of the Fund and President and Chief Executive Officer of IESI, added "the management team and employees of Winters Bros. have achieved their success through strategic acquisitions coupled with significant organic growth. We are very pleased to combine the Winters Bros. assets and team with the IESI family."
“Winters Bros. is the premier waste services business in the highly competitive and densely populated Long Island market. Through synergistic acquisitions and organic growth, the Company has accumulated a unique and highly profitable collection of assets in one of the best municipal solid waste markets in the country” said Livingstone partner Stephen Miles, “This transaction provides IESI with the perfect complement to its strong existing platform in the northeastern U.S, strengthening IESI’s status as one of the most significant players in the MSW industry.”
For further information contact:
Steve Miles
T: 312 670 5900
E: miles@livingstonepartners.com
