2 small Florida-based companies signify growth with acquisitions
- Ocala, FL-based Florida Express Environmental, LLC has announced the acquisition of select assets from Licciardello's Sanitation Services, Inc. for undisclosed terms.
- This purchase includes 10,000 new residential, commercial and industrial customers and six new vehicles. Florida Express now serves 25,000 customers with 32 vehicles.
- In an unrelated deal, Hernando, FL-based National Waste Management Holdings Inc. has acquired Northeast Data Destruction and Recycling, LLC to expand its business in upstate New York, as reported by Recycling Today.
Florida Express Environmental is a private family-run business that currently operates integrated waste and recycling services across seven counties and acquired a local document destruction company last year. Their owner emphasized this focused approach upon announcing the latest deal.
"We are committed to strategically growing our company while continuing our tradition of providing excellent customer service and unparalleled safety," said CEO John Paglia, Jr. in a statement. "We will continue to seek and pursue acquisitions and other growth and efficiency opportunities that offer an attractive return on investment and reflect our company’s core principles."
National Waste Management, a public company, also portrayed its acquisition in similar terms, highlighting the potential for managed growth.
"Acquiring Northeast Data Destruction and Recycling extends our reach to Kingston, New York, allowing us to offer roll-off services as we plan future expansion of this location," said CEO Louis Paveglio in a statement. "The acquisition enables our sales team to offer the additional services in both locations, and at the same time enables us to trim overhead costs."
As evidenced by Waste Connections' acquisition of Groot Industries — formerly the largest operator in Illinois — the trend of industry consolidation is certain to continue in 2017. These two deals show that small haulers still have a place in the market and are finding ways to stay viable by pursuing acquisition strategies and growing as self-sufficient businesses.
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