Republic Services, Inc. Acquires Rainbow Disposal Co., Inc.
Transaction Involves State-of the Art Infrastructure including Hauling Routes, Recycling Facility, Transfer Station and CNG Refueling Station
PHOENIX, Oct. 1, 2014 /PRNewswire/ -- Republic Services, Inc. (NYSE: RSG) announced today the acquisition of one of Southern California's largest independent solid waste companies, Rainbow Disposal Co., Inc. The transaction further enhances Republic's Southern California footprint, and reinforces the Company's growth strategy to expand its operations through targeted, accretive acquisitions.
Republic has acquired Rainbow's state-of-the-art business and facilities, which include hauling routes in Huntington Beach, Fountain Valley, Midway City, Westminster, Orange County, Newport Beach and Irvine as well as a recycling facility, a transfer station, a compressed natural gas (CNG) refueling station, and a vehicle fleet, powered by CNG.
"Rainbow Disposal's highly favorable and growing market position, long-term franchise agreements and diversified service offering will make a strong addition to Republic Services," said Brian Bales, executive vice president, Business Development. "Through this acquisition, we are further enhancing our recycling and waste diversion capabilities which will allow us to better serve California's growing sustainability initiatives."
As part of the transaction, the primary principals at Rainbow, Jerry Moffatt and Jeff Snow, have joined Republic Services, and will now lead a newly created business unit of the Company based at the Huntington Beach campus. Republic's new business unit will continue to serve residential and commercial customers, providing waste collection, transfer, disposal, diversified material recovery/recycling and organic composting.
Mr. Moffatt said, "For over 50 years, Rainbow Disposal has offered thousands of customers across Southern California solutions to their waste disposal needs. We are now pleased to be a part of the industry leading team at Republic Services, as both companies have strong values and a commitment to customer service, innovation and sustainability." Mr. Snow added, "We have prided ourselves on providing the highest levels of customer service and community engagement while at the same time focusing on being an employer of choice to our team of 350 dedicated employees. We look forward to continuing this great tradition under the Republic flag."
About Republic Services:
Republic Services, Inc. is an industry leader in U.S. non-hazardous recycling and solid waste. Through its subsidiaries, Republic's collection companies, transfer stations, recycling centers and landfills focus on providing reliable environmental services and solutions for commercial, industrial, municipal and residential customers. Republic and its employees believe in protecting the planet and applying common sense solutions to customers' waste and recycling challenges. For more information, visit the Republic website at republicservices.com.
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SOURCE Republic Services, Inc.
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