Clarification: A new headline on this story reflects the specifics of the deal.
- Houston-based Waste Management Inc. has completed its acquisition of 12 Florida-based Southern Waste Systems/Sun Recycling sites in Palm Beach, Broward, and Miami Dade-Counties for an undisclosed total amount.
- With this purchase, the company will employ 750 solid waste management workers in the areas of trash collection, recycling, and transfer operation. The deal also includes equipment, vehicles, and other assets.
- Sales transaction details of four properties were referenced in the South Florida Business Journal to include: a Davie site for $12 million, a Deerfield Beach operation for $4 million, a Lantana operation for $3.6 million, and a site near West Palm Beach for $2.59 million.
Despite financial ups and downs, legal battles, and policy challenges, solid waste management continues to bring opportunity to a number of companies, large and some small, who are expanding through acquisitions and mergers, including Waste Services of the Bluegrass and Action Resources.
But Waste Management has been on the fastest growth path. Not much prior to this Florida deal, the company, known as the largest solid waste management operation in North America, picked up D.C. Trash Service in Russellville, AR, and Kansas City-based Deffenbaugh Disposal Inc. The expansions have positioned the company well on multiple platforms, from major landfill expansion to compressed natural gas.
Area Vice President for Waste Management of Florida Tim Hawkins said in an earlier news release, "Today marks the beginning of us bringing together two very successful, complimentary businesses … The SWS/Sun Recycling assets align perfectly with our existing operations and service offerings, and will enhance the environmental solutions we provide to our combined customers throughout South Florida."