Dive Brief:
- Advanced Disposal Inc. will be taking over select accounts from Jacksonville, FL-based Arwood Waste Inc. The company services five counties in Florida and two in Georgia.
- Arwood's front load and permanent collection will now be serviced from Advanced Disposal's Jacksonville facility. Arwood will still operate temporary roll-off accounts, demolition, and national waste brokering under its own name.
- In operation for more than 30 years, Arwood says it's the largest privately owned waste company in the Southeast.
Dive Insight:
This deal continues Advanced Disposal's pattern of rapid growth—13 acquisitions in 2015 alone, preceded by years of even more acquisitions—and that has already included multiple companies this year. While Advanced has bought companies all around the country, it is truly strengthening its footprint and reputation in Florida.
While Advanced's first quarter revenues of $333.8 million were up from last year, the company's net loss increased from $3.5 million for the same period in 2015 to $14.3 million. Financial issues arose in February when the Advanced postponed its IPO, which was planned to raise more than $450 million, due to "unfavorable equity market conditions." In March, Bloomberg reported that the company is seeking a new investor before resuming.
Advanced is now the fifth-largest waste company in the country, with customers in 16 states and the Bahamas.
