Compost and mulch market ripe for acquisitions
Biosolids composting includes an aerated
static pile method, as shown here, in Philadelphia. Photo
Courtesy of R. Alexander Associates, Inc.
The nation’s third largest solid waste company
sold its compost and mulch unit to a private equity firm as the organics
recycling market may start to see more acquisitions.
Fort Lauderdale, Florida-based Republic Services, Inc.
sold Living Earth Technology Co. (LETCO) to Hunt Special Situations Group
LP in Dallas for $37 million late last year.
LETCO is the largest commercial provider of mulch,
compost, soil and other landscaping material in Texas. Republic Services
reported at the time of the sale that LETCO has average annual revenues
of $50 million and generates low double-digit operating income margins. ...read