Santek Waste Services LLC has purchased Waste Transport Service LLC, based in Elizabethtown, Ky., for an undisclosed amount.
Cleveland, Tenn.-based Santek formed a new, wholly owned subsidiary, Waste Services of Kentucky LLC, to acquire Waste Transport, according to a news release.
Santek, which calls itself the largest privately held manager of publicly owned solid waste landfills in the United States, acquired Waste Transport’s residential, commercial and industrial waste collection customers in Hardin, Meade and LaRue counties. The deal includes 14,000 residential customers, 346 commercial and industrial waste customers, and 24 collection vehicles.
The move complements Santek’s Pearl Hollow Landfill operation, which is owned by Kentucky’s Hardin County, said Edward Caylor, chief business development officer.
“The addition of Waste Transport is a very strategic acquisition for Santek because it gives us the ability to internalize new waste volumes at the Pearl Hollow Landfill and gives us a solid waste collection presence in the Elizabethtown market,” Caylor said.
Santek will integrate all Waste Transport employees into Santek’s workforce. Waste Transport owners Wayne and Barbara Smith chose to retire.
Late last year Santek completed a $153 million recapitalization of the company to refinance current debt and provide for growth opportunities, through the securing a new credit facility.
The credit facility provides for “significant” unused debt capacity for working capital, capital expenditures and acquisitions while also providing capital for other general corporate purposes, the company said.
Santek estimates its 2016 revenues at $107 million. It is a vertically integrated waste firm that currently manages 17 solid waste landfills, five transfer stations and waste collection divisions in five states, primarily in the Southeast.
Santek’s previous big move came in 2013 it acquired White Sanitation, based in Trion, Ga., including all its residential, commercial and industrial waste collection customers. Earlier in the year it bought two other waste and recycling companies in Georgia: Evans Recycling, based in Calhoun, and Davis Disposal, headquartered in Ringgold.
Recent industry acquisitions include Meridian Waste Solutions Inc. buying two waste companies while securing $55 million in funding in part to pay for the deals. Meridian, a Milton, Ga.-based waste company, acquired Christian Disposal LLC, which does business as Christian Environmental Services and is based in Winfield, Mo. The deal includes Christian's subsidiary, FWCD LLC.
The second purchase was by the company’s wholly owned subsidiary, Meridian Land Co. LLC, of certain assets of Eagle Ridge Landfill LLC. It includes hauling operations and a municipal solid waste landfill in Bowling Green, Mo.