Date: November 9, 2011
Source: ReCommunity
Recycling company ReCommunity (Charlotte, NC) recently acquired two single-stream recycling facilities in Huron Township and Roseville, Mich. owned by Great Lakes Recycling (GLR). ReCommunity was formed in March 2011 by investment firms Pegasus Capital Advisors LP and Intersection LLC which purchased the non-core recycling assets spun-off by Casella Waste Systems (Rutland, VT) in a $134 million deal. ReCommunity already operates recycling and recovery facilities in Ann Arbor, Saginaw and Southfield, Mich. The two new Michigan plants increase the number of ReCommunity facilities to 20 MRFs and one transfer station operating in 10 states. The Huron facility processes around 70,000 tons per year, while the Roseville facility processes around 80,000 tons per year. Sandy Rosen, CEO of GLR (Roseville, MI) said his company will continue to operate facilities in Roseville, Warren and Flint, Mich., as well as a recycling facility in North Tonawanda, NY, but that "the plan going forward is to continue to handle most commodities, but get out of the single-stream business." ReCommunity CEO James Bohlig said "we see a lot of opportunity in Michigan, and the Roseville and Huron facilities are complimentary to our existing facilities in the region."
PRESS RELEASE
November 15, 2011
ReCommunity Acquires Great Lakes Recycling Facilities in Huron Township and Roseville, Michigan
Acquisition supports the Company's mission to lead a "Recovery Revolution"
ReCommunity, a leader in the recycling and recovery industry, announced today that it has acquired the Great Lakes Recycling (GLR) recycling and recovery facilities in Huron Township and Roseville, Michigan, bringing its "Recovery Revolution" model to more communities in the state. ReCommunity already operates recycling and recovery facilities in Ann Arbor, Saginaw and Southfield, Michigan. The two new Michigan plants increase the number of ReCommunity facilities to 20 MRFs and one transfer station operating in ten states.
"We are pleased to join with our new community partners to bring the Recovery Revolution to Huron Township and Roseville, Michigan," said James Bohlig, chief executive officer of ReCommunity. "ReCommunity is a company with a purpose."
"Selling was the farthest thing from our minds when we initially met with ReCommunity earlier this year," said Sandy Rosen, chief executive officer of GLR, "but once we got to know them and understand what they're about, we quickly became excited about the opportunity it presented for us, our employees and overall recycling in SE Michigan."
By making recycling easier and expanding the list of acceptable materials, ReCommunity enables residents and businesses in communities across the United States to increase their recycled volume by 20% - 60%. At full capacity, ReCommunity Huron and ReCommunity Roseville will recover material that will prevent over 400,000 metric tons of CO2-equivalent greenhouse gases from being emitted annually, which is equivalent to taking about 75,000 cars off the road each year.
About ReCommunity
ReCommunity, headquartered in Charlotte, North Carolina, is a leading recycling, recovery and repowering company that is focused on dramatically reducing the volume of land-filled waste through conversion into useful products such as recycled commodities, low-carbon energy, ReEngineered FeedstockTM, bio-fuels and other value-added recycled products. The company aims to lead a Recovery RevolutionTM by repositioning waste as a strategic community resource instead of a growing liability. ReCommunity enables community partners to generate additional revenue, recover community owned resources, create new jobs, fund budget shortfalls, and reduce their carbon footprint. For more information, visit www.recommunity.com.
For more information, contact:
ReCommunity Media Contact:
Rob Doughty
rob@robdoughtycommunications.com.
305.495.3311
ReCommunity Investor Inquiries:
Steve Klueg, Chief Financial Officer
steve.klueg@recommunity.com.
704.697.2041
ReCommunity Other Inquiries:
Michelle Dyer, Strategic Marketing Director
marketing@recommunity.com.
978.578.3796
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