Solid waste operations will be folded into the company’s Star Atlantic Waste Holdings II business.
Star Atlantic Waste Holdings II, a part of the investment firm Highstar Capital, based in New York City, has reached an agreement to purchase Veolia ES Solid Waste Inc., from Veolia Environmental Services North America.
In a news release, Star Atlantic says it will merge the Veolia assets with its existing solid waste investments, which include Advanced Disposal Services Inc. and Interstate Waste Services Inc. The combined business will operate under the name Advanced Disposal Services (ADC), and Star says it will become the largest privately owned environmental services business in the United States. The waste management division will have operations in 20 states and have annual revenues of about $1.4 billion, a fleet of more than 3,000 trucks, 47 landfills, 92 transfer stations and 5,450 employees.
Christopher Lee, Highstar Capital founder and managing partner, says, "The acquisition of Veolia ES Solid Waste Inc. is a unique opportunity to create a fully-integrated environmental services platform across the eastern United States. The combined business will be a best-in-class company with an exceptional management team and growth opportunities."
Charles Appleby, ADC CEO, says, "Veolia ES Solid Waste Inc. is a tremendous business with high quality employees and assets. The opportunity to select best practices from VES SW, Advanced Disposal Services and Interstate Waste Services will create a strong company with compelling growth prospects. We look forward to working with our customers, employees and community partners as we provide comprehensive environmental service solutions."