Advanced Disposal has completed the acquisition of CGS Services Inc. Based in Morristown, Ind., CGS services a 14-county area in central and eastern Indiana through a vertically-integrated network of solid waste collection, recycling, and disposal assets that generates annual revenue approaching $30 million.
"CGS is an established operation in a secondary market that fits perfectly with our market selection strategy and gives us a new platform to continue to grow our business," Advanced Disposal CEO Richard Burke said in a statement. "CGS has developed an excellent reputation in the markets it serves, and we are pleased to welcome their top-tier professionals and customers to the Advanced Disposal family."
Advanced Disposal completed its initial public offering in October.
Advanced Disposal sold 19.25 million shares at a price of $18 per share, raising roughly $350 million. The net proceeds were used for debt paydown. In late October, ADSW commenced a debt refinancing, which lowered its interest expense and extended its debt maturities.
Leone Young analyzed Advanced Disposal’s early days as a public company in December.