EC Waste, which is backed by Post Capital Partners, has acquired Republic Services of Puerto Rico, a waste management subsidiary of Republic Services. No financial terms were disclosed.
HUMACAO, Puerto Rico–(BUSINESS WIRE)–EC Waste, LLC, a fully integrated solid waste services provider in Puerto Rico, announced the acquisition of Republic Services of Puerto Rico, a subsidiary of Republic Services, Inc. (NYSE: RSG) effective September 1, 2020. Financial terms were not disclosed.
“The acquisition of Republic Services of Puerto Rico enhances EC Waste’s existing capabilities with the addition of two landfills, a transfer station and two hauling operations. The combined business operates four landfills, three transfer stations and four hauling operations, expanding EC Waste’s position as a leading provider in Puerto Rico,” said EC Waste President and CEO Randy Jensen. Jensen added, “On top of our commitment to environmental compliance, EC Waste offers its customers a high-end technology operating platform that enhances the customer and employee experience by allowing for seamless service and scheduling requests, customer signatures and payments all within one easy to use portal.”
Post Capital Partners and Mr. Jensen originally partnered to acquire EC Waste in April 2014 through the fund’s Executive Partnership Program. Jensen, an Executive Partner with Post Capital, worked closely with Post Capital’s investment team to identify and structure the EC Waste transaction and moved to Puerto Rico to become EC Waste’s CEO upon closing.
“The acquisition and integration of Republic Services of Puerto Rico presents another opportunity for Randy to showcase his skills as a strong waste management operator, while utilizing only company owned and operated facilities,” stated Michael Pfeffer, Managing Director and co-founder of Post Capital Partners.
Financing for the transaction was provided by Banco Popular de Puerto Rico, legal advice was provided by Winston & Strawn LLP, Pietrantoni Mendez & Alvarez LLC and Adsuar Muniz Goyco Seda & Perez-Ochoa, PSC. Financial advice was provided by Plante Moran, PLLC and Deloitte Tax LLP and environmental advice was provided by Civil & Environmental Consultants, Inc. Republic Services, Inc. was advised by Rothschild & Co.
About EC Waste
EC Waste, LLC. is a leading provider of non-hazardous waste management and disposal services in Puerto Rico. The Company protects the quality of life in many communities, providing waste solutions to over 100,000 residential clients and over 8,500 commercial and industrial customers in Puerto Rico.
EC Waste operates four sanitary landfill systems on the island and operates and manages three transfer stations.
About Post Capital Partners
Post Capital Partners (http://www.postcp.com) is a private investment firm that makes both minority growth and control investments in businesses with repeat or recurring revenue models. Post Capital primarily employs an “Executive-First” deal sourcing and investment strategy in which it first identifies and partners with talented senior operating executives and then works proactively with those “Executive Partners” to identify investments. In addition to “Executive-First” platform searches, Post Capital also pursues management buyouts and growth capital investments. Based in New York City, Post Capital invests a committed capital fund with top-tier institutional and sophisticated private investors.