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Solid waste company completes business merger in New Jersey

The former CEO of a solid waste company called Waste Services, Inc. has gotten back into the business after being gone for a few years. He has founded a new company called Waste Services Industries LLC in order to acquire waste management companies in New Jersey. So far, the new company has completed a business merger with three collection and recycling companies in New Jersey.

The three companies were purchased from Regional Industries LLC. With these purchases and the acquisition of a collection company and two landfills in a nearby state, the newly formed company has the potential of generating upwards of $60 million per year. The company also has signed an agreement with a facility that specializes in recovering material and also operates as a transfer station also located in New Jersey.

The two companies now under Waste Services Industries LLC bring nearly $30 million in equity to the table. In addition, investors have contributed another $19 million. Several million more dollars were obtained from the Goldman Sachs Specialty Lending Group. The new company's founder has brought in friends from the waste management industry, which he himself has been involved in for nearly 30 years.

There is hope that the company has the potential of growing its business not only in New Jersey and Virginia where the landfills are located, but also in Maryland and Washington, D.C. With the right management and vision, it may be possible for this new company to achieve its goals. A lot of business and legal decisions had to be resolved before this business merger could be completed. With the right assistance and advice, the details of a merger can be handled smoothly and efficiently in order to allow the surviving business to thrive.

Source: wasterecyclingnews.com, Sutherland-Yoest jumps back into trash business with new East Coast company, Jim Johnson, Aug. 30, 2013

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