Interstate Waste Services, Inc., a leading, vertically integrated waste-by-rail provider of solid waste collection, disposal and recycling services announced it has entered into a definitive agreement to acquire Oak Ridge Waste & Recycling, one of Connecticut’s preeminent providers of waste collection, transfer, and recycling services in Southwestern Connecticut and Suburban New York, further expanding IWS’s service footprint into the tristate area. The transaction is expected to close by the end of the first quarter of 2024.
The acquisition comes on the heels of IWS subsidiary Action Environmental’s selection as an authorized waste and recycling hauler under New York City’sCommercial Waste Hauling Program, Local Law 199. IWS subsidiary, Action Environmental, was awarded 14 out of 20 zones and a city-wide containerized award, more zones than any other hauler, positioning IWS for significant growth in New York City.
Oak Ridge serves commercial, residential, municipal, and industrial customers throughout Western Connecticut and New York’s Westchesterand Putnam Counties through a network of collection and post-collection facilities, including a waste-by-rail transfer and recycling facility in Danbury, a state-of-the-art materials recovery facility in Shelton, CT and a transfer station in Norwalk, CT. The company’s intense focus on service excellence delivered through a local, high-touch family culture aligns well with IWS, which is celebrating its 25th anniversary serving a broad regional footprint in New York and New Jersey with a similar high-touch, local, family business culture.
“Oak Ridge has an established presence in an attractive adjacent market delivering collection and processing services through a dedicated workforce and an entrenched culture that fits exceptionally well with IWS,” said Michael DiBella Chief Executive Officer of Interstate Waste Services. “Since our teams have experience working side-by-side, we expect a seamless transition and the immediate benefit of not only the IWS vertically integrated rail assets, but also resources for further investment in people, assets and systems, along with the collaboration of experienced leadership in both organizations.”
“We are excited to combine businesses and secure the resources for further growth in our markets while leveraging IWS’s waste-by-rail network,” Oak Ridge’s Managing Partner and CEO John Decker said. “Mike [DiBella] and I have a long professional relationship and our teams have worked together making this a natural fit.”