American AllWaste LLC Completes Acquisition of Three Facilities in Southwestern United States
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 the formation of American AllWaste LLC (“AllWaste”), a growth platform focused on the non-hazardous liquid waste industry.
AllWaste today also reported the completion of its first transaction, the acquisition of three non-hazardous liquid waste facilities in the Southwestern United States. Financial terms of the transaction were not disclosed.
Kevin Charlton, Co-Chairman of NewHold, noted, “AllWaste is a great example of the type of opportunities NewHold is designed to pursue. We build platform companies in industries with a compelling rationale for consolidation, strong cash flows, and the ability to capitalize on the benefits of long-term ownership by reinvesting for growth. We believe our approach will allow our companies to more fully realize their potential and, in turn, allow us to generate stronger returns for our investors.”
“In keeping with the NewHold strategy, we performed extensive due diligence with AllWaste’s CEO, Darrell Rogers, before approaching our first acquisition on a proprietary basis,” said Charles Goldman, Co-Chairman of NewHold. “The non-hazardous liquid waste industry offers great opportunities for patient long-term owners, as it is a fragmented sector in which consolidation can lead not only to better economics but also better service levels for customers and better professional opportunities for employees. We seek to partner with highly experienced industry professionals to build out our platforms and are pleased to be working with an executive of Darrell Rogers’ caliber as we grow the AllWaste business.”
“NewHold’s strategy and structure is a great match for my management team and me,” said Darrell Rogers, CEO of AllWaste. “In addition to their long-term focus on building high-quality businesses, the NewHold team and its Board of Advisors bring deep experience in acquiring and operating businesses like those we look to bring in to the AllWaste family. Charles, Kevin and the rest of the team have been great partners in getting AllWaste off the ground and in positioning the company for future growth and success.”