M&A Deal Summary

Interstate Waste Services Acquires Solterra Recycling Solutions

On May 10, 2022, Interstate Waste Services acquired environmental company Solterra Recycling Solutions from Roark Capital Group

Acquisition Highlights
  • This is Interstate Waste Services’ 3rd transaction in the Environmental sector.
  • This is Interstate Waste Services’ 3rd transaction in the United States.
  • This is Interstate Waste Services’ 3rd transaction in New Jersey.

M&A Deal Summary

Date 2022-05-10
Target Solterra Recycling Solutions
Sector Environmental
Buyer(s) Interstate Waste Services
Sellers(s) Roark Capital Group
Deal Type Add-on Acquisition
Advisor(s) Houlihan Lokey (Financial)

Target

Solterra Recycling Solutions

Old Bridge, New Jersey, United States
Solterra Recycling Solutions is a provider of non-hazardous solid waste, organic waste, and recycling collection to over 30 municipalities, 400,000 residential households and 2,000 commercial customers throughout central and northern New Jersey as well as the Philadelphia metropolitan area.

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Buyer(S) 1

Buyer

Interstate Waste Services

Teaneck, New Jersey, United States

Category Company
Sector Environmental
DESCRIPTION

Interstate Waste Services is a provider of solid waste collection, transfer, recycling, and disposal services serving. Interstate Waste Services is based in Teaneck, New Jersey.


DEAL STATS #
Overall 3 of 5
Sector (Environmental) 3 of 5
Type (Add-on Acquisition) 3 of 5
State (New Jersey) 3 of 3
Country (United States) 3 of 5
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-02 Evergreen Recycling Solutions

Newark, New Jersey, United States

Evergreen Recycling Solutions is a LEED certified Material Recovery Facility ("MRF") and Transfer Station specializing in Construction & Demolition ("C&D") debris. Evergreen Recycling Solutions was founded in 2007 and is based in Newark, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-12 Oak Ridge Waste & Recycling

Danbury, Connecticut, United States

Oak Ridge Waste & Recycling is a provider of solid waste collection, transportation, and disposal services for residential and commercial customers in the Northeast. Oak Ridge Waste & Recycling is based in Danbury, Connecticut.

Buy -

Seller(S) 1

SELLER

Roark Capital Group

Atlanta, Georgia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 33.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Roark Capital Group is a private equity firm that focuses on middle-market investment opportunities. The Firm targets family-owned business transfers, management/corporate buyouts, recapitalizations, going-private transactions, and corporate divestitures. Roark Capital Group pursues companies with revenues between $20 million and $5 billion, and EBITDA of $10 to $500 million. Roark Capital primarily invests in consumer and business services companies, with a particular interest in the franchise, food and restaurant, specialty retail, direct marketing and financial services sectors. Roark Capital Group was formed in 2001 and is headquartered in Atlanta, Georgia.


DEAL STATS #
Overall 18 of 18
Sector (Environmental) 1 of 1
Type (Add-on Acquisition) 7 of 7
State (New Jersey) 1 of 1
Country (United States) 17 of 17
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-16 Mathnasium

Los Angeles, California, United States

Mathnasium is a franchisor and operator of math learning centers with over 1,000 locations across 46 states and 12 countries. Mathnasium was founded in 2002 and is based in Los Angeles, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-24 Subway

Milford, Connecticut, United States

Subway is a global restaurant chain focused on serving freshly made-to-order sandwiches, wraps, salads and bowls to guests across more than 100 countries in nearly 37,000 restaurants. Subway restaurants are owned and operated by Subway franchisees – a network that includes thousands of entrepreneurs and small business owners. Subway was founded in 1965 and is based in Milford, Connecticut.

Buy -