Advanced Disposal, the company over the Eagle Point Landfill in northwest Forsyth, is being sold.
On Monday, it was announced that Advanced Disposal, based in Ponte Vedra, Fla., was being bought by Houston-based Waste Management with Waste Management acquiring all outstanding shares of Advanced Disposal, "a total enterprise value of $4.9 billion when including approximately $1.9 billion of Advanced Disposal's net debt."
Officials with Eagle Point directed all media inquiries to a press release between the two companies.
"We are pleased to have reached this milestone agreement with Waste Management to deliver an immediate cash premium to Advanced Disposal stockholders. We view Waste Management as an industry leader with one of the most respected brands in the nation," said Richard Burke, chief executive officer of Advanced Disposal, in a news release.
"This acquisition stands as a testament to the strength of the Advanced Disposal business and brings together two strong waste management teams with extensive environmental services expertise to better serve our customers and communities. We look forward to working with the Waste Management team to complete the transaction and ensure that we continue to deliver the highest quality service to our customers."
Officials with Waste Management said the acquisition would help expand the company's footprint, improve customer service and help find sustainable waste solutions.
"With this acquisition, we will grow our asset footprint to serve more customers and communities and generate significant growth and value creation opportunities for Waste Management's shareholders and our combined company's employee base," said Jim Fish, president and chief executive officer of Waste Management.
"Waste Management's disciplined capital allocation and balance sheet strength position us well to execute upon this unique opportunity to expand our scale and capabilities to serve an even broader customer base and realize the strategic and financial benefits the acquisition of Advanced Disposal creates."
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