SEATTLE (Recycling Monster): Macquarie Asset Management announced acquisition of Coastal Waste & Recycling- a leading solid waste and recycling business in the U.S. with an enterprise value of approximately $900 million. The financial terms of the transaction were not disclosed. Further to the transaction, Macquarie Infrastructure Partners VI now owns majority stake in Coastal Waste & Recycling.
The Boca Raton, Florida-headquartered company operates solid-waste and recycling facilities at 19 locations in Florida and Georgia. The company was founded in 2017.
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The acquisition will accelerate Coastal Waste & Recycling’s growth plans and further strengthen its position as U.S. Southeast’s leading vertically integrated solid waste and recycling business in the private sector.
Commenting on the development, Karl Kuchel, CEO of Macquarie Infrastructure Partners noted that the company’s leadership position, diversion-led business model and top-quality service offering positions it well to meet the waste management and sustainability requirements of the communities in which it operates. Macquarie looks forward to partner with the company to support the next stage of its growth, he added.
Brendon Pantano, CEO, Coastal Waste & Recycling noted that Macquarie’s investment will help the company to accelerate its growth in Florida and into adjacent geographies.
