Covanta acquires EnergyAnswers
Covanta Holding Corporation has agreed to purchase the operating businesses of EnergyAnswers Corporation, which includes two energy-from-waste (EfW) facilities in Massachusetts as well as several ancillary businesses.
The acquired assets include a 400 tons-per-day EfW facility located in Springfield, Massachusetts, and a 240 tons-per-day EfW facility located in Pittsfield, Massachusetts. Approximately 75 percent of waste revenues are contracted for these facilities. In addition, Covanta is acquiring businesses that include:
A landfill operation in Massachusetts, which is used for ash disposal.
Two transfer stations, one in New York and the other located at the Springfield EfW facility, permitted to transfer 500 tons per day.
A waste transportation and collection business operated with acquired facilities.
A wood and yard waste recycling operation on Cape Cod, Massachusetts.
Covanta has agreed to acquire EnergyAnswers’ businesses for cash and assumption of debt totaling $61 million, subject to working capital adjustments.