Emerald Waste Services Acquires Sunbelt Environmental, Inc.
Freeport, FL - Emerald Waste Services LLC, a WHI Capital Partners portfolio company, recently announced the acquisition of Sunbelt Environmental, Inc., a move that augments Emerald's position as Northwest Florida's leading waste services provider.
Formed in January 2006, Emerald is the 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 and Canada, as calculated by Waste News in 2006.
"We set out to create the leading full-service waste company in the region and this transaction enhances our position in all areas, including C&D, commercial and residential waste services," said Bart Begley, Emerald CEO. "The Sunbelt acquisition increases our owned C&D landfill airspace to more than 38 million cubic yards, and positions Emerald to take advantage of the extensive growth taking place in our region."
Emerald's service area, which now stretches from Baldwin County, Ala. to Tallahassee, Fla., 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, further boosting 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, Fla. and Gulf Shores, Ala. Sunbelt serviced more than 2,500 customers.
Adam Schecter, WHI Capital Partners managing partner, added, "This is Emerald's third acquisition 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 our integration plans."
Emerald Waste Services is now the preeminent waste services provider in the Florida-Alabama panhandle region. The acquisition of the platform company and each of the add-ons were supported with senior debt financing provided by Comerica.
SOURCE: WHI Capital Partners and Emerald Waste Services