TEANECK, N.J. – Interstate Waste Services, Inc. (IWS) and Littlejohn & Co., LLC, a private investment firm based in Greenwich, CT, have announced the merger of The Action Environmental Group, Inc. and Apex Environmental Resources Holdings II LLC (Apex).
The combined company will operate under the Interstate Waste Services brand. Littlejohn led the equity financing to facilitate the transaction.
IWS is the largest privately-held, vertically-integrated provider of solid waste collection, transfer, recycling and disposal services serving the greater New York City and Northern New Jersey markets. It operates nearly 400 collection vehicles throughout the five boroughs of New York City, Northern and Central New Jersey, and Orange and Rockland County, New York; a network of 22 transfer and transload facilities; and a rail-served solid waste landfill in Amsterdam, Ohio.
“This transaction creates a tremendous platform for continued growth and will enable us to offer greater scale and services for our customers,” said Michael DiBella, founder and CEO of IWS.
“IWS’s expansion and development over the past 20 years has been driven by our hard-working employees and the support of our key financial partners and business stakeholders. We welcome Apex management into the IWS family and are grateful for the support and partnership of Littlejohn, who share our vision and recognize the significant opportunities ahead as we continue to execute on our growth plans.”
Summer Street Capital Partners LLC, an original investor in IWS, and Prophet Equity, the majority investor in Apex, and management are maintaining significant equity interests in the business. O-Corp Investments, LLC participated in the equity financing alongside Littlejohn.
Brian Michaud, a managing director at Littlejohn, said, “The combination of IWS and Apex is highly strategic, creating a vertically-integrated platform with significant growth potential. We are pleased to partner with the IWS management team and existing shareholders to support the merger and the Company’s growth initiatives.”