Date: January 18, 2010
Source: Advanced Disposal Services, Inc.
Advanced Disposal Services Inc. (Jacksonville, FL) said it has about $80 million available for acquisitions and general corporate purposes after having refinanced its existing credit facility with a new $400 million first lien bank credit facility. "The new $400 million credit facility allows Advanced Disposal to continue its disciplined growth strategy by providing sufficient liquidity over the next four years," said Advanced Disposal CEO Charlie Appleby. The company is off to a good start. Earlier this month they bought multimaterial recycler Sumrall Recycling Services Inc., based in Hattiesburg, MS. Advanced Disposal provides integrated waste services in the Southeast and is part of Highstar Capital's portfolio of companies under its Star Atlantic Waste Holdings, L.P. that also includes Interstate Waste Services and North East Waste Waste Services.
For Immediate Release: January 14, 2010
ADVANCED DISPOSAL COMPLETES A PROSPEROUS REFINANCE
Advanced Disposal Services, Inc. regional environmental services company announced today that it has successfully completed a refinancing of its existing credit facility with a $400 million first lien bank Credit Facility including $250 million revolving credit facility due Jan 2014 and $150 million term loan B due Jan 2015. The proceeds of the Credit Facility have been used to refinance borrowings under its existing $304 million revolving credit facility along with $60 million of subordinated debt, resulting in approximately $80 million in available borrowing capacity to be used for acquisitions or general corporate purposes.
Advanced Disposal was assigned a corporate family rating of Ba3 from Moody's and B+ corporate credit rating from Standard & Poor's. Steve Carn, Advanced Disposal Chief Financial Officer, states, "The new $400 million credit facility allows Advanced Disposal to continue its disciplined growth strategy by providing sufficient liquidity over the next 4 years. The credit ratings assigned by Moody's and S&P represent another milestone for ADS and are a result of the dedication and hard work of the employees of Advanced Disposal."
"The stability of the company's cash flow generation and the excellent operating profitability resulted in strong demand for both the revolver and the term loan B being oversubscribed." Said Charlie Appleby, Chief Executive Officer for Advanced Disposal.
About Advanced Disposal Services, Inc.
Advanced Disposal is a regional environmental services company providing integrated, non-hazardous solid waste collection, transfer, recycling and disposal services in the Southeastern United States. Advanced Disposal currently owns and operates commercial, industrial, and residential solid waste collection operations, municipal solid waste landfills, transfer stations, and recycling facilities. Advanced Disposal is dedicated to preserving the environment and ensuring that all operations are conducted in a manner that follows all local, state, and federal laws in regards to environmental protection. Advanced Disposal is headquartered in Jacksonville, FL and has operations in Florida, Georgia, Alabama, Mississippi, Tennessee and North Carolina.
For more information regarding Advanced Disposal, please visit www.AdvancedDisposal.com.
For Immediate Release: January 5, 2010
Advanced Disposal Strengthens Commitment to Recycling With Purchase of Sumrall Recycling
On Dec. 31, 2009, Advanced Disposal Services, Inc, once again proved its commitment to a cleaner, greener world with the purchase of Sumrall Recycling Services, Inc. (Sumrall Recycling), the State of Mississippi's largest multi-material recycler. The asset purchase included company-owned Materials Recovery Facilities (MRF's) in Sumrall and Flowood, MS, Summerdale, AL as well as a MRF operating contract in Franklin, TN. Fifty employees transitioned with the sale of the company as well as multiple trucks, containers, balers, conveyors, grinders, and other processing equipment. Sumrall Recycling has customers and operations across nine (9) Southeastern states (MS, GA, FL, AL, TN, KY, AR, LA & MO) including Fortune 500 industrial and commercial companies, military bases, and cities and counties throughout the service area.
Materials recycled by Sumrall include traditional fiber items such as cardboard, newsprint, and all high grades of paper. Sumrall operates a state of the art grinding facility which processes grades 1-7 of plastic. Metals recycled include aluminum, brass, copper and other grades of metal and bi-metal. More unique items that are recycled include the destruction and materials recycling of DVD's, CD's and other sensitive materials in addition to the destruction and recycling of outdated merchandise like bottled and canned beverages. As proof of the beverage destruction and recycling, a certificate of guarantee is given to the manufacturer ensuring that all beverage containers and content was properly handled and no product made its way back to market.
"Advanced Disposal has always had a strong commitment to recycling through our extensive residential and commercial collection operations; however, the global climate is changing in many ways, and we see a more stable growth market emerging from the processing and marketing of recyclables," stated Charlie Appleby, Advanced Disposal's CEO." "The acquisition and integration of Sumrall Recycling with its highly experienced and respected personnel provides Advanced Disposal an effective platform in this critical market area."
Eric D. "Poncho" James, former President and CEO of Sumrall Recycling will remain with Advanced Disposal and lead the company's recycling endeavors as Advanced Disposal's Vice President - Recycling. "I'm truly excited about the new opportunities for me personally as well as our Sumrall employees and for Advanced Disposal's growth into this new business sector," stated James. "It allows me to grow the recycling side of the business with existing Advanced Disposal solid waste & recycling customers while creating a more diversified, loyal customer base for the company."
About Advanced Disposal Services, Inc.
Advanced Disposal is the fourth largest privately-owned environmental services company in the United States providing integrated, non-hazardous solid waste collection, transfer, recycling and disposal services in the Southeastern United States. Advanced Disposal currently owns and operates commercial, industrial, and residential solid waste collection operations, municipal solid waste landfills, transfer stations, and recycling facilities. Advanced Disposal is dedicated to preserving the environment and ensuring that all operations are conducted in a manner that follows all local, state, and federal laws in regards to environmental protection. Advanced Disposal is headquartered in Jacksonville, FL and has operations in Florida, Georgia, Alabama, Mississippi, Tennessee and North Carolina.
For more information regarding Advanced Disposal, please visit www.AdvancedDisposal.com.
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