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CommentsAdvanced Disposal Services, Inc., has completed its acquisition of Veolia ES Solid Waste Inc.
The Jacksonville, Fla.-based company announced the closing of the $1.9 billion transaction just before 2 p.m. today.
News of the closing came just days after the Justice Department told Advanced Disposal that it would need to sell off three transfer stations in northern New Jersey, a landfill and two transfer stations in central Georgia, and three commercial waste collection routes in the Macon, Ga., area to pass anti-trust muster.
Highstar Capital -- the owner of Advanced Disposal and Interstate Waste Services Inc. – emerged in July as the winner in the bidding war for Veolia ES Solid Waste Inc. When the purchased was announced, Highstar said the three companies would merge into a one, which would operate under the Advanced name. Advanced Disposal took control of Interstate Waste in September.
Now that the deal is complete, the "new" Advanced Disposal becomes the largest privately owned waste company in North America with an estimated $1.4 billion in annual revenue and more than 3,000 collection vehicles doing work in 20 states.
"A transaction of this magnitude takes time and significant efforts from all parties," said Charlie Appleby, Chairman and CEO of Advanced Disposal, in a statement. "I am extremely grateful to the teams from both Advanced Disposal and Veolia who contributed countless hours to make this strategic combination a reality."
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