Charles George Companies, which has a decades-long history in the region, represents an expansion into collection and recycling operations across two states for the Macquarie-backed waste-to-energy company.
What happened
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Why it matters
This deal comes after a long period of speculation about future waste industry expansion plans for Macquarie Infrastructure & Real Assets (MIRA), which acquired Wheelabrator in February 2019 shortly after it had begun discussing the possibility of an initial public offering. That same month, (as originally reported by Waste Dive) MIRA also acquired Tunnel Hill Partners and its subsidiary City Carting & Recycling. This combination of the second-largest waste-to-energy company and largest integrated waste-by-rail company in the United States created a sizable player with a team of 1,700 employees.
According to New Hampshire-based Wheelabrator, that combined operation now encompasses the ownership or operation of around 40 "strategically located assets" in the U.S. and U.K. Based on a March presentation, this covers 20-plus incinerators and waste fuel facilities, four ash monofills, three landfills, nine transfer stations, two MRFs and collection accounts for a combined 20,000-plus customers in New York and Connecticut.
Since early 2019, the companies have worked toward an integration plan that saw the recent exit of Tunnel Hill CEO John Lamanna and the installation of a largely new executive leadership team in late 2019. Boucher, CEO of Wheelabrator since 2015, now runs the entire operation. While the company was previously part of a larger network under the longtime ownership of Waste Management — which sold it to Energy Capital Partners in 2014 — industry sources view this latest strategy as a much more focused push for vertical integration.
This news brief is based on reporting published by Waste Dive on 2020-07-08. The original report is linked below.
Waste Dive
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