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Press Release
FOR IMMEDIATE RELEASE
CONTACT
Bart Begley, Emerald Waste Services, 850-835-3918
Adam Schecter, WHI Capital Partners, 312-621-0641
Emerald Waste Services Augments Its Leading Market Position in Northwest Florida Through the Acquisition of Sunbelt Environmental, Inc.
Emerald Waste Services LLC, (“Emerald”), a WHI Capital Partners (“WHICP”) portfolio company located in Northwest Florida, today announced that it had completed the acquisition of Sunbelt Environmental, Inc. Formed by WHICP in January 2006, Emerald is the leading provider of solid waste services in the region and now owns and operates eight construction and demolition (“C&D”) landfill sites. This acquisition makes Emerald one of the 50 largest waste companies in the United States.
“We set out to create the leading full-service waste company in the region, and this transaction will further enhance our position in all areas of our business – including C&D, commercial and residential waste services” comments Bart Begley, CEO of Emerald. “The acquisition of Sunbelt will increase our owned C&D landfill airspace to more than 38 million cubic yards, and positions Emerald to take advantage of the extensive growth that is taking place in our region.” he added.
Emerald’s service area, which now stretches from Baldwin County, AL to Tallahassee, FL, continues to experience strong population growth, commercial and residential real estate development and expanding military facilities. The Bay County International Airport will begin construction in March 2007 which will further boost growth. The acquisition of Sunbelt included roll-off and commercial hauling routes in the area as well as two C&D landfill sites in Bay County, Florida and Gulf Shores, Alabama. Sunbelt serviced more than 2,500 customers.
Adam Schecter, Managing Partner of WHI Capital Partners added, “This is the third acquisition that Emerald has completed since we completed the platform investment in January 2006. Bart Begley and the senior management team, which includes COO Bruce Emley and CFO Bruce Roy, have done an exceptional job identifying opportunities as well as executing on our integration plans.”
Emerald Waste Services is now the preeminent waste services provider in the Florida-Alabama panhandle region, owning and operating 8 C&D landfills, 150 trucks and employing over 190 people. The acquisition of the platform company and each of the add-ons were supported with senior debt financing provided by Comerica.
About Emerald Waste Services
Emerald Waste Services (formerly Waste Recyclers Holdings), a WHI Capital Partners portfolio company, is the market leader in solid waste services in Northwest Florida. The company owns and operates six construction and demolition landfill sites in the region, and runs a fleet of over 90 trucks which provide waste collection services to the construction, commercial and residential markets. The fleet services Emerald’s portable toilet rental operation of more than 3,500 portable toilets. Emerald Waste Services employs more than 140 people. For more information, contact Bart Begley at 850-835-3918.
About WHI Capital Partners
WHI Capital Partners (www.whicapital.com) is a Chicago- based private equity firm that invests in leading niche manufacturing, value-added distribution and specialty service companies with revenues between $10 – 100 million. WHICP focuses on creating a true partnership with a company’s management team with the goal of enhancing operational efficiency along with developing and executing a clearly defined growth plan to build value. Backed by the financial strength and resources of its parent firm, William Harris Investors, Inc., WHI Capital Partners provides a unique solution to help a company capitalize on its opportunities over the long haul. For more information, contact Adam Schecter at (312) 621-0641 or adams@whicapital.com.