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December 13, 2012
The Rutland, Vt.-based Casella said in a news release that Blow Brothers is an Old Orchard Beach, Maine-based company that does business as Bestway Disposal Services and BBI Waste Industries. BBI provides solid waste collection and transfer services and liquid waste services in New Hampshire and Maine, with about $20 million in revenue. BBI operates out of seven locations.
In addition to the cash payment Casella acquired 625,000 shares of the company’s Class A common stock.
The acquisition gives Casella the opportunity to internalize additional waste and recyclables, and to consolidate operations, routes and transportation. "BBI's operations overlay well with our footprint in New Hampshire and Maine, and we expect the acquisition to drive incremental value from our existing operations and provide a growth platform in several new market areas," said Casella Waste CEO John Casella.
BBI collects and transfers about 105,000 tons of solid waste and recyclables.
Casella Waste expects to internalize about 80 percent of the material at its facilities and for BBI to generate about $4.9 million of adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) in the second full 12 months of combined operations after the deal closes.
News Editor, Waste360
Allan Gerlat joined the Waste360 staff in September 2011 as news editor. He was the editor of Waste & Recycling News for the first 16 years of its history, and under his guidance the publication won 27 national and regional awards.
Before Waste & Recycling News, Allan worked at another Crain Communications publication, Rubber & Plastics News, which covers rubber product manufacturing. He began with the publication as associate editor and eventually became managing editor, a position he held for nine years.
Allan is a graduate of Ohio University, where he earned a BS in journalism. He is based in Sagamore Hills, in northeast Ohio.
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