NEW YORK--(BUSINESS WIRE)--Please replace the release dated August 8, 2019 with the following corrected version due to multiple revisions.
The corrected release reads:
AMERICAN ALLWASTE LLC ACQUIRES ASSETS OF ONSITE ENVIRONMENTAL
Acquisition expands AllWaste’s growth platform in non-hazardous liquid waste industry
NewHold Enterprises, LLC (NewHold), a holding company focused on long-term ownership and acquisition-led growth of middle-market industrial and services companies, today announced American AllWaste LLC (AllWaste) acquired the assets of Onsite Environmental (Onsite), Tennessee’s leading provider of non-hazardous liquid waste hauling and treatment services. Financial terms of the transaction were not disclosed.
“The acquisition of Onsite Environmental’s assets is a significant step in our goal of building the premiere, non-hazardous liquid waste business in the southeast United States,” said Kevin Charlton, chairman of AllWaste and co-chairman of NewHold. “By partnering with existing management to accelerate Onsite’s growth strategies, we believe we can remain the acquirer of choice for family-owned companies seeking liquidity.”
Onsite broadly covers Tennessee with trucking services and processing facilities. Primary waste types include leachate, grease and grit trap waste, and oily waters. Onsite is also a responsible steward of the environment, with treatment process byproducts reused in agriculture as a beneficial soil amendment approved by the Tennessee Department of Agriculture. Onsite also produces nearly 500,000 gallons of brown grease per year, which ultimately helps create clean-burning biodiesel.
“Over the past 30 years, Harvey Combs and his team have built Onsite into a market leader throughout Tennessee and much of the Deep South,” said AllWaste CEO Darrell Rogers. “With a management team that possesses more than 60 years of direct waste industry experience, Onsite is well-positioned for growth in all aspects of non-hazardous liquid waste. We are excited to bring them into our family of companies and look forward to rolling up our sleeves with local management to support their continued growth.”
“We are anxious to get started on this new chapter as a member of the American AllWaste family of companies,” said Onsite’s Director of Southeast Operations Gary Shadrick. “The joining of these outstanding companies will provide even greater opportunity and additional resources to continue our focus on industry-leading customer service and environmental stewardship. We are very excited for what the future holds and the synergies this transaction creates.”
About American AllWaste
AllWaste is an end-to-end service provider targeting the non-hazardous liquid waste industry. It provides service to municipal, commercial and industrial clients seeking solutions for the handling and proper disposal of non-hazardous liquid waste streams, maintenance and repair of infrastructure and periodic statutory testing. With current operations in Houston, Austin and Beaumont, Texas, AllWaste anticipates expanding its regional footprint through organic growth and strategic acquisitions, while maintaining best-in-class service to its customers. www.allwastecorp.com.
NewHold is a holding company focused on long-term ownership and growth of North American, middle-market industrial and services companies. Established in 2017, NewHold operates through platforms which are built through acquisitions and organic growth of such companies. Each platform strategy is led by an experienced industry executive and is targeted to reach a minimum of $30 million to $50 million of EBITDA. NewHold’s investors consist primarily of family offices seeking long-term capital appreciation through ownership and growth of middle-market, industry-leading companies. www.newholdllc.com.