NewHold Enterprises, LLC, Launches American AllWaste LLC, a Growth Platform in Non-Hazardous Liquid Waste Industry
American AllWaste LLC Completes Acquisition of Three Facilities in Southwestern United States
NEW YORK, July 12, 2018 /PRNewswire/ -- NewHold Enterprises, LLC ("NewHold"), a holding company focused on long-term ownership and acquisition-led growth of middle market industrial and services companies, today announced the formation of American AllWaste LLC ("AllWaste"), a growth platform focused on the non-hazardous liquid waste industry. AllWaste today also reported the completion of its first transaction, the acquisition of three non-hazardous liquid waste facilities in the Southwestern United States. Financial terms of the transaction were not disclosed.
Kevin Charlton, Co-Chairman of NewHold, noted, "AllWaste is a great example of the type of opportunities NewHold is designed to pursue. We build platform companies in industries with a compelling rationale for consolidation, strong cash flows, and the ability to capitalize on the benefits of long-term ownership by reinvesting for growth. We believe our approach will allow our companies to more fully realize their potential and, in turn, allow us to generate stronger returns for our investors."
"In keeping with the NewHold strategy, we performed extensive due diligence with AllWaste's CEO, Darrell Rogers, before approaching our first acquisition on a proprietary basis," said Charles Goldman, Co-Chairman of NewHold. "The non-hazardous liquid waste industry offers great opportunities for patient long-term owners, as it is a fragmented sector in which consolidation can lead not only to better economics but also better service levels for customers and better professional opportunities for employees. We seek to partner with highly experienced industry professionals to build out our platforms and are pleased to be working with an executive of Darrell Rogers' caliber as we grow the AllWaste business."
"NewHold's strategy and structure is a great match for my management team and me," said Darrell Rogers, CEO of AllWaste. "In addition to their long-term focus on building high-quality businesses, the NewHold team and its Board of Advisors bring deep experience in acquiring and operating businesses like those we look to bring in to the AllWaste family. Charles, Kevin and the rest of the team have been great partners in getting AllWaste off the ground and in positioning the company for future growth and success."
About AllWaste
AllWaste is a growth platform targeting the non-hazardous liquid waste industry. AllWaste provides service to municipal, commercial and industrial clients seeking solutions for the handling and proper disposal of liquid waste streams, maintenance and repair of infrastructure and periodic statutory testing. Through organic growth and strategic acquisitions AllWaste anticipates expanding its regional footprint while maintaining best-in-class service to our customers.
About NewHold
NewHold is a holding company focused on long-term ownership and growth of North American middle market industrial and services companies. Established in 2017, NewHold operates through platforms which are built through acquisitions and organic growth of middle market industrial and services companies. Each platform strategy is led by an experienced industry executive and is targeted to reach a minimum of $30 million to $50 million of EBITDA. NewHold's investors consist primarily of family offices seeking long-term capital appreciation through ownership and growth of middle market, industry leading companies. Additional information regarding NewHold can be found at http://newholdllc.com/.
Contact:
Adam Deutsch
NewHold Enterprises, LLC
212-653-0153 x 703
[email protected]
SOURCE NewHold Enterprises, LLC
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