Newalta Sells Industrial Waste, Recycling Division

Allan Gerlat, News Editor

January 5, 2015

1 Min Read
Newalta Sells Industrial Waste, Recycling Division

Newalta Corp. has sold its Industrial Division, which comprises solid waste and recycling operations, to Revolution Acquisitions LP for $300 million.

Revolution Acquisition, a company formed by Birch Hill Equity Partners of Toronto, bought the division, which serves the Canadian market with more than 35 locations and 950 employees, the Calgary, Alberta-based Newalta said in a news release. The division also features industrial-related onsite services; a lead-acid battery recycling facility in Ville Ste-Catherine, Quebec; an engineered non-hazardous solid waste landfill in Stoney Creek, Ontario; and a used oil collection network and re-refining facility in North Vancouver, British Columbia.

Besides the cash proceeds of $300 million, the transaction includes the assumption of the associated asset retirement obligation.

"We are pleased to add the Industrial Operations of Newalta to the Birch Hill family,” said Pierre Schuurmans, a partner with Birch Hill. “We believe the division has tremendous opportunity to build on its strong capabilities, asset base and market positions across Canada and North America.”

Todd Moser, senior vice president on the Industrial Division will now lead the newly formed entity as president and CEO.

"This transaction advances our strategy of unlocking value as we focus on our core growth divisions, New Markets and Oilfield," said John Barkhouse, Newalta president and CEO. "The Industrial Division is a solid business and has outstanding people but no longer fits with our strategic vision.”

Newalta said proceeds from the sale will be used to pay down debt. The companies expect the transaction to close in the first quarter.




About the Author(s)

Allan Gerlat

News Editor, Waste360

Allan Gerlat joined the Waste360 staff in September 2011 as news editor. He was the editor of Waste & Recycling News for the first 16 years of its history, and under his guidance the publication won 27 national and regional awards.

Before Waste & Recycling News, Allan worked at another Crain Communications publication, Rubber & Plastics News, which covers rubber product manufacturing. He began with the publication as associate editor and eventually became managing editor, a position he held for nine years.

Allan is a graduate of Ohio University, where he earned a BS in journalism. He is based in Sagamore Hills, in northeast Ohio.

Stay in the Know - Subscribe to Our Newsletters
Join a network of more than 90,000 waste and recycling industry professionals. Get the latest news and insights straight to your inbox. Free.

You May Also Like