CHICAGO and CLEVELAND, Jan. 10, 2017 /PRNewswire/ -- Brown Gibbons Lang & Company (BGL) is pleased to announce the sale of Groot Industries, Inc. (Groot) to Waste Connections, Inc. (TSX/NYSE: WCN). BGL's Environmental & Industrial Services team served as the financial advisor to Groot in the transaction. The specific terms of the transaction were not disclosed.
Founded over a century ago in 1914, Groot is the largest privately-owned solid waste services company in Illinois with total annual revenue of approximately $200 million. Groot serves approximately 300,000 customers primarily in northern Illinois from a network of six collection operations, six transfer stations, and two recycling facilities.
"We look forward to joining the Waste Connections family and carrying on the Groot name within our markets. We believe Waste Connections' leadership team, culture, decentralized operating philosophy and growth focus are the best fit for Groot," said Messrs. Jon Groot and Ryan Brandsma. "We previously had looked to acquire Rock River given the obvious merits of such a combination, and are excited to be together under Waste Connections."
About Brown Gibbons Lang & Company
Brown Gibbons Lang & Company is a leading independent investment bank serving the middle market. BGL specializes in mergers and acquisitions advisory services, debt and equity placements, financial restructuring advice, and valuations and fairness opinions, with global industry teams in Business Services, Consumer, Environmental & Industrial Services, Healthcare & Life Sciences, Industrials, and Real Estate. BGL has offices in Chicago, Cleveland, and Philadelphia and real estate offices in Chicago, Cleveland, Irvine, and San Antonio, in addition to Global M&A partner offices in more than 50 countries across 5 continents. BGL is able to deliver to our clients unparalleled access to strategic relationships, investors, and opportunities globally. For more information, please visit www.bglco.com.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/brown-gibbons-lang--company-bgl-announces-the-sale-of-groot-industries-inc-300388259.html
SOURCE Brown Gibbons Lang & Company