Date: August 18, 2009
Source: Oakleaf Waste Management
Oakleaf Waste Management (Hartford, CT) said that Steve Preston has officially assumed the post of CEO and that company founder Jim Barnes is now Chairman. As CEO, Preston will take over day-to-day business operations of the company and that will allow Barnes more time to focus on business development and strategic initiatives. Barnes hopes to spend more time with large clients, major vendors, and on examining strategic acquisitions. Preston served under President Bush as Secretary of the U.S. Department of Housing and Urban Development (HUD) and as Administrator of the U.S. Small Business Administration (SBA). Prior to 2006, Preston spent 9 years with ServiceMaster Company, where he was CFO and later EVP of Strategic Services.
See also: "Oakleaf Names New President; Barnes Becomes Chairman," www.wasteinfo.com/news/wbj20090623H.htm.
Company Press Release:
OAKLEAF President Steve Preston Assumes Role of Chief Executive Officer
Planned Transition Includes Founder Jim Barnes' Move to New Role as Chairman of the Board at Leading Waste and Recycling Company
OAKLEAF, a leading provider of sustainable waste logistics and recycling solutions, announced today that Steve Preston has been named Chief Executive Officer and will take over day-to-day business operations of the company immediately. As part of a planned transition announced June 18, OAKLEAF founder Jim Barnes has assumed his new role as OAKLEAF's Chairman of the Board of Directors. As Chairman, Barnes will remain active in the business, focusing on strategic and business development initiatives.
OAKLEAF was recently named to this year's Inc. 5000 list of the fastest growing, privately held companies in America. Preston commented, "I am pleased to be part of such a dynamic, forward-thinking organization. We're very proud of this recognition of the value we bring to our customers as demonstrated by our growth."
About OAKLEAF
OAKLEAF, founded in 1995, is a leader in providing sustainable waste logistics and recycling solutions for a broad base of multi-location retail, restaurant, hotel, manufacturing, property management and mall clients including Sears/Kmart, General Electric, United Technologies, Camden Property Trust, CVS, P.F. Chang's and many more. As the most rapidly growing waste outsourcing company in the nation with operations throughout the United States and Canada, an employee base of more than 750 employees, and a nationwide network of over 5,000 certified haulers, recyclers, and waste diversion experts, OAKLEAF provides services to over 100,000 locations throughout North America. OAKLEAF is backed by New Mountain Capital which provides significant financial and strategic resources to help continue OAKLEAF's strong growth and superior service to its customers. OAKLEAF has been recognized thirteen times since 2001 by Inc. Magazine, including being named six times to the Inc. 500 List (now the Inc. 5000 List) and being recognized seven times by ICIC, the Initiative for a Competitive Inner City. Subsidiary operations include Valet Waste (doorstep trash pickup for multifamily communities), IEM (mall and shopping center services), WasteLess Environmental Services (waste logistics solutions for Canadian companies), and Greenleaf Compaction (equipment rentals, leasing and maintenance). OAKLEAF is also the exclusive provider of dumpster services for The Home Depot Dumpster Rentals. For more information on OAKLEAF, please visit www.oakleafwaste.com.
About New Mountain Capital
New Mountain Capital is a New York-based private equity firm investing for long-term capital appreciation through direct investment in growth equity transactions, leveraged acquisitions and management buyouts. The firm manages private equity and public equity capital with aggregate assets under management totaling more than $8.5 billion. New Mountain seeks out the highest-quality growth leaders in carefully selected industry sectors, and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit www.newmountaincapital.com.
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