JBC Group has purchased waste management firm A&D Environmental Services Inc. for an undisclosed amount.
(This story has been updated to clarify the acquiring company.)
Elyria, Ohio-based JBC, a company newly formed by the Cromling family, acquired A&D, High Point, N.C., whose services include waste management, remediation, industrial, transportation and emergency response, according to a news release. It operates eight locations in the Southeast and Colorado.
“With this acquisition, we are making significant progress toward accomplishing our goals for continued growth and diversification,” said William Cromling III, on behalf of family ownership. “This new partnership will enable our customers to continue to receive the high quality service that they have come to expect from us in the past 65 years, with the addition of new, more comprehensive service.”
Added Paul Taveira, A&D CEO, “This acquisition expands the expertise, infrastructure and services available to customers of both companies, as the businesses are very complementary in terms of their geography and service offerings.”
The Cromling family also owns Ross Environmental Services Inc., an environmental services company specializing in hazardous waste management. In addition, the family–Maureen Ross Cromling; her husband, William Cromling II; their sons, William Cromling III and Jon Cromling–own the Ross Group of companies, including Ross Incineration Services Inc. and Ross Transportation Services Inc., as well as ReTech Plastics and ReTech Steel LLC. They are all members of the RossWay Group.
The transaction continues a spate of recent smaller mergers and acquisitions of smaller waste and recycling operations.
Already this month a new holding company, Mountain Waste & Recycling Inc., was formed to merge and manage two waste haulers and consider expanding the operation. It will serve as the parent company for Mountain Roll-Offs and InterMountain Waste & Recycling.
Also, Deptford, N.J.-based Gold Medal Services LLC purchased substantially all the assets of waste hauler Casworth Enterprises Inc. and recycler Blue River Resources LLC. And, the former management team of Mid America Recycling purchased from Waste Management Inc. its recycling plant in Des Moines, Iowa.
But in her June Waste360 Business Insights column, industry financial analyst Leone Young wrote of her impressions from WasteExpo 2015 that the bigger companies feel that high seller expectations for valuations on acquisitions is a stumbling block to more deals getting done.