Kinderhook sells ACV Enviro to Republic
ACV is a regional provider of integrated hazardous and nonhazardous waste management services throughout the northeastern United States. ACV’s commercial and institutional customers include utilities, refineries, power plants, chemical manufacturing plants, academic and medical institutions.
In Waste Today’s “Largest Haulers in North America of 2020” list, ACV Enviro ranked as the 17th largest hauler with revenues of $200 million.
“We are excited to welcome ACV to the Republic Services team,” Republic said in a statement. “We remain committed to profitably growing our business both organically and through acquisitions. Growing the environmental solutions portion of our business allows Republic to leverage core capabilities to meet increasing customer demand, further our positive impact on the environment and help our customers reach their sustainability goals.”
Avenel, New Jersey-based ACV Enviro was created by Kinderhook in November 2015 through the combination of Clean Venture Cycle Chem and Allstate Power Vac Inc. Kinderhook says it “recruited well-known industry executives to build a vertically integrated environmental solutions business and execute on an aggressive growth strategy by building a uniquely permitted footprint, investing in technology infrastructure as well as capabilities at its waste processing facilities, and completing three strategic add-on acquisitions."
“This is an outstanding outcome for Kinderhook, ACV and its employees,” comments Rob Michalik, managing director of Kinderhook. “The ACV team, led by Andy Shackett, executed on an aggressive growth strategy to build a highly strategic, vertically integrated environmental solutions business. We are very proud of the ACV team’s accomplishments and expect the company to continue its track record of success in the future.”
E.L. Harvey, based in Westborough, Massachusetts, provides solid waste collection, recycling and transfer services to commercial, industrial, municipal and residential customers primarily in central and eastern Massachusetts, as well as southern New Hampshire. The company operates a single-stream material recovery facility that processed 7,000 to 8,000 tons per month and offers confidential document destruction, food waste and product destruction and electronics recycling services. It operates a fleet of 120 collection vehicles.
“The Harvey family has established one of the most respected companies in our industry, and we are honored to welcome Harvey to the Waste Connections family. Together with their continuing leadership team, we look forward to carrying on the Harvey name and further expanding its market position, as well as enhancing its strong culture of support for its employees, customers and communities,” Worthing F. Jackman, president and CEO of Waste Connections, says.
Waste Connections also announced the closing of one of its two previously announced signed acquisitions, with approximately $50 million of annualized revenue from franchise operations in Northern California and Nevada.
The company says it expects the other signed acquisition, a solid waste services provider with approximately $25 million of annualized revenue from franchise operations in Oregon, to close during the fourth quarter.