Date: August 4, 2010
Source: Action Carting Environmental Services, Inc.
Action Carting Completes Acquisition of Republic Services' New York City Assets
Action Carting Environmental Services, Inc., a leading provider of waste management services for the business community in the City of New York that is focused on effective and environmentally friendly waste collection, carting and recycling, today announced that it has completed its previously announced acquisition of select New York City assets of Republic Services, Inc.
"We are very pleased to announce the completion of the transaction with Republic Services," said Ron Bergamini, Action Carting's CEO. "The addition of these critical assets, including two transfer stations and 10 vehicles, position Action Carting to better serve our customers in the highly competitive and demanding New York City market. Importantly, the two new transfer stations, which are located in the Bronx and Brooklyn, will enable us to increase the quantity and quality of our recycling capabilities, further advancing Action Carting's mission to be the foremost, environmentally friendly collection and recycling provider in the city."
Bergamini continued, "We look forward to continuing to provide our broad range of customers, including universities, hospitals and local sports stadiums, with impeccable collection services and state-of-the-art technologies and solutions designed to help our clients meet their ‘green' objectives to reduce, reuse and recycle."
The acquisition was financed by key banking partners, including Comerica Bank, and investors Ironwood Capital and Summer Street Capital Partners, LLC. W.Y. Campbell & Company acted as financial advisor to Action Carting in connection with the transaction.
About Action Carting Environmental Services
Founded in 1999, by John Glauda, Action Carting Environmental Services is a leading provider of solid waste collection and environmental services for the business community of New York's five boroughs. Action Carting is headquartered in Newark, with key operations and facilities in the Bronx. With more than 350 employees, 110 trucks, a materials recovery facility and two transfer stations, Action provides the highest quality solid waste, recycling collection and disposal services. Action Carting also offers customers leading "green" solutions, such as light bulb recycling and composting. For more information, please visit www.actioncarting.com.
Contacts:
Sard Verbinnen & Co
Jamie Tully / Nathaniel Garnick
212-687-8080
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