Casella Waste Systems, Inc., a regional solid waste, recycling, and resource management services company, announced that it has entered into a definitive agreement to acquire Royal Carting and Welsh Sanitation and related real estate assets. The acquisition is expected to close in the fourth quarter, subject to customary closing conditions, including regulatory approvals.
The pending acquisition includes two solid waste collection operations and two transfer stations in New York鈥檚 Middle and Lower Hudson Valley regions and western Connecticut, which will extend the Company鈥檚 service territory into new adjacent markets. The pending acquisition is expected to generate over $90 million in annualized revenues with a high concentration of commercial collection service and waste volumes that can be internalized into Casella鈥檚 landfills over time.
鈥淩oyal is a well-known and respected waste and recycling service provider, and we are excited to enter these new markets with such a strong platform. We have worked closely with Royal for over 30 years and we have the utmost respect for the Panichi family and their team,鈥� said John W. Casella, Chairman and CEO of Casella Waste Systems, Inc. 鈥淪ince 1955, Emil Panichi and his family have built and operated a premier business with a focus on excellent customer service, taking care of their team, and supporting their local communities. We are dedicated to upholding this strong legacy while also introducing additional capabilities to support customer service needs.鈥�
Emil Panichi, Royal鈥檚 Chairman, added, 鈥淚 want to thank our many customers for their loyalty and our employees for their service. We picked Casella as the best company to continue our 70-year tradition of environmentally responsible service to families and businesses in our community. Our employees will be staying on, and we expect Casella will provide them with new opportunities for advancement.鈥�
鈥淚n addition to Royal鈥檚 long-standing relationships, we believe that Royal鈥檚 footprint presents a great organic growth opportunity for Casella,鈥� Casella said. 鈥淲e are thrilled to welcome the hardworking employees of Royal to our team and look forward to continuing their track record of outstanding customer service and operational excellence.鈥�