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:
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A landfill operation in Massachusetts, which is used for ash disposal.
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Two transfer stations, one in New York and the other located at the Springfield EfW facility, permitted to transfer 500 tons per day.
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A waste transportation and collection business operated with acquired facilities.
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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. |
