Integrated Waste Solutions Group, LLC (IWSG) announced funding from NOVA Infrastructure, the completion of the acquisition of Central Texas Refuse, Inc. (CTR) and its affiliates and the agreement with Green Group Holdings to acquire 130 Environmental Park (130 EP).
“We are excited to announce our partnership with NOVA Infrastructure to fund our vertically integrated solid waste business strategy in selected geographic regions in the United States. We are well funded, have a strong and experienced management team and are proud to work with the leadership of CTR and the 130 Environmental Park project to launch our business model in Central Texas,” said Charlie Appleby, founder and chairman of IWSG, in a statement.
CTR is a full-service waste collection and recycling company serving Austin, Texas, and surrounding areas. The company is one of the largest independent waste collection service organizations in Central Texas. Founded in 1981 by the families of Richard Butler, William Butler, James Schenk, Donald Schenk and Dennis DeGolier, CTR has grown through organic expansion and currently operates from four primary locations in Southeast Austin, Round Rock, Lockhart and a comprehensive single stream recycling facility in Hutto/Taylor, Texas. Debt financing for the transaction was provided by Comerica Bank.
Upon closing of the sale, Mike Lavengco, general manager of CTR, will become CEO and a director of IWSG. “We are very pleased to be one of the launching points for the growth of IWSG,” said Lavengco in a statement. “Our ownership group was impressed with the experience that the IWSG founders brought to the table as well as their commitment to our employees and customers. Many of our employees will have even better advancement opportunities in a company with greater scale and size as we move forward.”
IWSG also announced that it has entered into an agreement with Green Group Holdings, LLC related to the 130 Environmental Park project.
130 EP is the holder of a municipal solid waste (MSW) permit for a Type I MSW landfill facility issued by the Texas Commission on Environmental Quality (TCEQ). 130 EP is a mixed-use development in northern Caldwell County that is located east of the 130 Toll Road and north of FM 1185. The development will include the landfill, a facility for processing recyclable materials and an industrial park. The landfill will be a highly engineered, environmentally friendly waste management facility that will provide good paying jobs and new business opportunities for local contractors and service providers, according to a press release. The 130 EP facility has also received permits from the U.S. Army Corps of Engineers and Caldwell County, as well as authorization from TCEQ for an operation to recycle various types of materials from construction projects in the area.
Under the terms of the agreement, IWSG, through a subsidiary, will own, construct and operate the facility. Green Group Holdings will own a minority interest in IWSG and participate in the leadership and development of the company.
“Working with IWSG on the 130 Environmental Park project gives us the ability to participate in a fully integrated solid waste and recycling business in Central Texas,” said David Green, president of Green Group Holdings, in a statement. “This move gives IWSG the scale and leverage to compete in the market and provide comprehensive services to our customers. We are thrilled to be a part of the IWSG team.”
Construction of the 130 Environmental Park disposal facility is expected to start this spring, with operations commencing in early 2021.
IWSG’s business model is to develop integrated solid waste collection and disposal operations in selected regions throughout the United States.