Red River Waste Solutions LP has acquired Marvin Konfrst Trash Service (MKTS), Glenwood, Iowa, a business in the same family as two previous purchases in Glenwood by Red River in May.
The Dripping Springs, Texas-based Red River Waste earlier bought Steve Konfrst Trash Service and Mel Konfrst Trash Service. The latest purchase was owned by Mel Konfrst’s brother, Marvin, who had been providing waste collection in the Glenwood area for more than 30 years, according to a news release.
The purchase was for an undisclosed amount. The competing family businesses have provided residential, commercial and industrial waste collection services in southwest Iowa.
Red River’s latest purchase is a tuck-in acquisition to the company’s existing operation in Council Bluffs, Iowa, where it provides residential waste, yard waste and recycling collection.
Red River has relocated its regional office to Glenwood from Omaha, Neb., and added 20 jobs to the local community.
The purchases in May were father-and-son haulers.
Red River has been bolstering its Council Bluffs operation. Last October it added its first compressed natural gas (CNG) truck to its waste collection fleet there, and it plans to add nine more trucks by 2016.
And it supplements a flurry of recent smaller acquisitions in the waste and recycling industry. This month Corpus Christi, Texas-based K2 Waste Solutions purchased waste and recycling hauler LT’s Garbage Service, based in Dayton, Texas. That followed two other purchases by the firm in late June: Phoenix-based residential waste hauler Greenline Waste and Recycling LLC and then Lake Country Disposal (LCD) LLC, based in Menomonee Falls, Wis.
In her June Waste360 Business Insights column, industry financial analyst Leone Young wrote of her impressions from WasteExpo 2015 that the bigger companies believe that high seller expectations for valuations on acquisitions is a stumbling block to more deals getting done.