EC Waste LLC, a Puerto Rican-based fully integrated solid waste services provider, announced it acquired Republic Services of Puerto Rico, a subsidiary of Phoenix-based Republic Services Inc. Financial terms were not disclosed for the deal, which became effective Sept. 1. EC Waste is a portfolio company of New York City-based Post Capital Partners.
“The acquisition of Republic Services of Puerto Rico enhances EC Waste's existing capabilities with the addition of two landfills, a transfer station and two hauling operations. The combined business operates four landfills, three transfer stations and four hauling operations, expanding EC Waste’s position as a leading provider in Puerto Rico,” EC Waste President and CEO Randy Jensen says.
Jensen added, “On top of our commitment to environmental compliance, EC Waste offers its customers a high-end technology operating platform that enhances the customer and employee experience by allowing for seamless service and scheduling requests, customer signatures and payments all within one easy-to-use portal.”
Post Capital Partners and Jensen originally partnered to acquire EC Waste in April 2014 through the fund’s Executive Partnership Program. Jensen, an executive partner with Post Capital, worked with Post Capital’s investment team to identify and structure the EC Waste transaction and moved to Puerto Rico to become EC Waste’s CEO upon closing.
“The acquisition and integration of Republic Services of Puerto Rico presents another opportunity for Randy to showcase his skills as a strong waste management operator while utilizing only company owned and operated facilities,” Michael Pfeffer, managing director and co-founder of Post Capital Partners, says.
Financing for the transaction was provided by Banco Popular de Puerto Rico, legal advice was provided by Winston & Strawn LLP, Pietrantoni Mendez & Alvarez LLC, and Adsuar Muniz Goyco Seda & Perez-Ochoa PSC. Financial advice was provided by Plante Moran PLLC and Deloitte Tax LLP. Environmental advice was provided by Civil & Environmental Consultants Inc. Republic Services Inc. was advised by Rothschild & Co.
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