Meridian Waste, an integrated, non-hazardous solid waste services company, announced it has closed on the purchase of the equity interests of Shotwell Landfill, Inc.; Shotwell Transfer Station II, Inc.; Capitol Waste Transfer, LLC; Capital Recycling, LLC; and Morrisville Transfer Station LLC (collectively, the Shotwell companies) throughout the greater Raleigh, N.C., marketplace.
The terms of the stock purchase agreement remain private. This marks Meridian Waste’s first acquisition within North Carolina and the 11th acquisition since the company transitioned to private stock under the ownership of Warren Equity Partners in April 2018.
The acquired assets include the Shotwell Construction and Demolition Debris (C&D) Landfill, the Shotwell Transfer Station II (C&D), the Capitol Waste Transfer Station (C&D) and the municipal solid waste (MSW) transfer station known as the Morrisville Transfer Station (under construction). The purchase also includes disposal and commercial contracts associated with the disposal facilities as well as rolling stock assets.
“The Shotwell acquisition establishes Meridian Waste as an immediate, fully integrated solid waste competitor in a dynamic Southeastern marketplace,” said Walter “Wally” Hall, Meridian Waste CEO, in a statement. “We have a strong book of business with the group of hauling and disposal assets purchased, which will serve as a springboard to additional growth and expansion within the Carolinas; the Shotwell C&D Landfill along with existing C&D transfer stations readies the company to benefit from the historic construction boom happening across the Triangle; and with the opening of the Morrisville Transfer Station, the company will begin internalizing MSW loads from the Raleigh-Durham area at its Lunenburg Landfill in southern Virginia by the end of Q1. This kind of opportunity is rare but very favorable to financial margin enhancement and strategic growth. Meridian Waste is open for business in North Carolina, our headquartered state, and we are in the position to be extremely successful in the region.”
“Through the continued support of our private equity partners, Warren Equity, Meridian Waste will continue to aggressively grow our footprint across the Southeast,” added Hall.
David King, the previous majority owner of the Shotwell Companies, will remain a “valued team member of Meridian Waste,” as will the 25 employees currently operating the landfill, transfer stations and the hauling company. The hauling company will operate under the brand of Meridian Waste.
“Selling a business you have developed over 20 years isn’t an easy decision,” said King in a statement. “However, I knew if there was ever a company and a management team to partner with to continue and better the success of the Shotwell Companies, it is Meridian Waste and Wally Hall. I feel confident that my Shotwell employees and assets are in good, knowledgeable hands and with those who will take care of the customers, the employees and the environment. Plus, I get the benefit of riding along with the company for this incredible journey.”
North Carolina is the sixth state in which Meridian Waste now operates.