US-based solid waste collection, transfer, recycling and disposal services provider, Advanced Disposal, has completed the acquisition of Veolia ES Solid Waste for $1.9b.
The acquisition of the US-based environmental services company is the largest industry deal in the last four years.
Advanced Disposal chairman and CEO Charlie Appleby said about two million customers will benefit from a more varied and competitive company focused on customer care and reliability, safe and efficient operations both on the streets and at facilities.
"A transaction of this magnitude takes time and significant efforts from all parties. I am extremely grateful to the teams from both Advanced Disposal and Veolia who contributed countless hours to make this strategic combination a reality," Appleby added.
Highstar Capital, the owner of Advanced Disposal and Interstate Waste Services, bid the highest value to acquire the Veolia Solid Waste business and stated that the three companies would work together as Advanced Disposal, reported Waste Recycling News.
The combined business is expected to generate about $1.4bn in revenues every year, and operate in 20 states across the US.
The US Department of Justice approved the deal on 15 November 2012 on condition that certain waste collection assets in northern New Jersey, central Georgia, and the Macon, Georgia, metropolitan area are divested, to overcome anti-trust concerns.