AIG Highstar Capital acquires Interstate Waste
Interstate Waste Services, Inc. (IWS) has been acquired by AIG Highstar Capital II, L.P. (Highstar II), a private equity fund sponsored by AIG Global Investment Group. Goldsmith Agio Helms, an investment banking firm, facilitated the transaction.
Based in Sloatsburg, New York, IWS operates in 21 municipalities in northern New Jersey and in the lower Hudson Valley region of New York.
IWS owns and manages a network of transfer stations and owns and operates a high volume material recycling facility. Currently, IWS controls over 3,400 tons per day of waste through its collection and transfer station operations.
IWS founders Frank Celli and Mike DiBella will remain as chief executive officer and vice president of Collection Operations, respectively, and will retain an ongoing ownership interest in the combined IWS and North East Waste Services businesses.