December 4, 2015
Waste Management Inc. has received antitrust clearance from the Justice Department to acquire Southern Waste Systems.
The Houston-based Waste Management expects to close the transaction by the year’s end, according to Dawn McCormick, a spokeswoman for the company, who confirmed the deal.
Davie, Fla.-based Southern Waste Systems provides waste hauling to the Florida counties of Miami-Dade, Broward, Palm Beach, Martin and St. Lucie. No conditions were tied to the transaction. The price was not disclosed.
Mark Hammond, executive director of the Solid Waste Authority of Palm Beach County, said he has met with Southern Waste Systems and expects a smooth transition to Waste Management when the deal closes. The authority has a long-term contract with Southern Waste Systems for residential and business waste collection in the southern half of Palm Beach County and the Glades area.
He expected the routes to stay the same and for Waste Management to retain a lot of the existing personnel and equipment.
Southern Waste Systems employs 700 and operates 12 locations in south Florida for the collection, processing and recycling of commercial, industrial, municipal and residential waste. The firm was founded in 1999 by Anthony Lomangino and Charles Gusmano.
In July Waste Management has purchased D.C. Trash Service in Russellville, Ark. D.C. Trash covers communities in the Arkansas River Valley, from Faulkner County to Ozark County.
Waste Management completed its giant waste hauler acquisition in March–the purchase of Deffenbaugh Disposal Inc. for more than $400 million. The Kansas City, Kan.–based waste and recycling firm had 2013 revenue of about $180 million.
The deal went through after Waste Management agreed with the Justice Department to divest small and commercial waste collection assets in Arkansas and Kansas, according to the department.