Action Environmental Group has acquired the New York and New Jersey hauling, transfer station and recycling assets of Interstate Waste Services. Financial terms weren’t announced. Action Environmental is a portfolio company of Summer Street Capital Partners and Ironwood Capital Management. Comerica Bank’s Environmental Services Department, through a syndicate which included Webster Bank, Union Bank, and CoBank, provided financing. Interstate Waste Services, of Basking Ridge, N.J., provides waste collection, recycling and disposal for the residential, industrial and commercial sectors.
NEWARK, N.J., Aug. 27, 2013 /PRNewswire/ — Action Environmental Group, Inc. (“Action”) announced its purchase of the New York and New Jersey hauling, transfer station and recycling assets of Interstate Waste Services, Inc. Action’s tenured management team has extensive experience with the facilities, customers, employees and markets served by Interstate Waste and seeks to apply Action’s entrepreneurial and innovative spirit to deliver exceptional customer services and enhanced customer value.
“We are excited about re-entering Northern New Jersey and lower New York State to not only renew existing relationships with Interstate Waste employees and customers but to embark on new relationships within the communities we serve. We will continue our philosophy of providing excellent customer service, and environmental innovation all delivered through a dedicated and effective workforce,” noted company chairman Michael DiBella.
The transaction was financed primarily through existing ownership led by private equity sponsors Summer Street Capital Partners, LLC and Ironwood Capital Management. Senior financing provided by Comerica Bank’s Environmental Services Department through a syndicate which also included Webster Bank, Union Bank, and CoBank.
About Action Environmental Group
Action Environmental Group is a regional provider of solid waste services in New York and New Jersey. As a leading innovator inNew York City’s solid waste and recycling market as well as Northern New Jersey, Action Environmental provides solid waste and recycling collection and processing services throughout the New York and New Jersey region. The Company’s network of operating sites, transfer stations and material recycling facilities provides broad market coverage to one of the most populous regions in the United States.
For more information on this topic please contact Jenna DiBella or visit our website www.actioncarting.com
SOURCE Action Environmental Group