Roark Capital‘s environmental services platform Synergy Environmental Corp. has acquired Central Jersey Waste and Recycling and sister companies, Premier Food Waste Recycling and Central Repairs. No financial terms were disclosed. Headquartered in Ewing, NJ, CJW is a provider of waste and recycling services for the New Jersey and Pennsylvania markets.
ATLANTA, March 18, 2014 /PRNewswire/ — Roark Capital Group, an Atlanta-based private equity firm, announced today that its affiliate, Synergy Environmental Corporation (“Synergy”), has acquired Central Jersey Waste and Recycling, Inc. and its sister entities, Premier Food Waste Recycling, Inc. and Central Repairs Inc. (collectively, the “Company” or “CJW”).
CJW is a leading provider of waste and recycling services to the New Jersey and Pennsylvania markets. Headquartered in Ewing, New Jersey, CJW provides non-hazardous solid waste collection, hauling and processing services to nearly 30 municipalities and approximately 1,000 commercial customers. The Company also collects and transports organic and food waste products for commercial and residential customers.
Roark formed Synergy to serve as a growth platform with the goal of building a scalable and integrated solid waste focused environmental services operation. Synergy will be led by Ed Apuzzi (CEO) and Joe LoVerde (COO), who previously ran Progressive Waste’s operations in the northeastern United States. Roark has committed substantial additional equity capital to Synergy to fund organic and acquisition based growth.
“We are excited to partner with Ed, Joe and the team at CJW to support their goal of continued growth and high standards of quality customer service. We believe New Jersey represents an ideal market to build a high quality, diversified environmental services provider,” said Jeffrey Keenan, President of Roark Capital Group and head of Roark’s environmental services team.
According to Apuzzi, “Roark’s dedicated environmental services team and operational experience will provide us with the additional resources needed to accelerate CJW’s organic and acquisition growth, while continuing to provide superior service and environmentally-friendly solutions throughout the region.”
LoVerde added, “Ed and I are excited to begin this new partnership with CJW. The company has an outstanding reputation for delivering superior service to its customers. We look forward to working with Roark to support the company’s growth initiatives.”
Synergy Environmental represents Roark’s fourth environmental services platform and 52nd transaction in this sector. Roark’s other environmental services investments include: Waste Pro USA, Inc. (www.wasteprousa.com); GFL Environmental Corporation (www.gflenv.com); and Quala Holdings LLC (www.qualawash.com). Waste Pro provides solid waste collection, disposal and recycling services to more than two million residential and 40,000 commercial customers in the southeastern United States. GFL provides solid waste and liquid waste collection, transfer and disposal services to more than 875,000 residential and 16,000 commercial customers. GFL also provides soil remediation services in Ontario, Manitoba, Alberta and British Columbia. Quala provides industrial cleaning, maintenance, wastewater treatment and repair services to the tank trailer and transport container industry, with a nationwide footprint of 59 locations.
About Roark Capital Group
Roark Capital Group is an Atlanta-based private equity firm that specializes in franchise, brand management, environmental services and marketing services companies with attractive growth prospects. Roark focuses on middle-market investment opportunities through family-owned business transfers, management and corporate buyouts, recapitalizations, going-private transactions and corporate divestitures. The firm has $3 billion of equity capital under management. For more information, visit www.roarkcapital.com.
About Central Jersey Waste
Headquartered in Ewing, New Jersey, CJW is a leading solid waste and organics collection, hauling and recycling provider to municipalities, commercial customers and residential customers in New Jersey and Pennsylvania. CJW services nearly 30 municipalities and approximately 1,000 commercial customers. For more information, visit www.centraljerseywaste.com.