Interstate Waste Services Inc. in Teaneck acquired Ewing-based Solterra Recycling Solutions, a non-hazardous solid waste, organic waste and recycling collection provider for customers in the central New Jersey and Philadelphia markets.
The deal was announced May 10. The acquisition will build upon existing collection and processing operations within the central and southern New Jersey area, and allow IWS to reduce vehicle miles traveled and greenhouse gas emissions by leveraging its waste-by-rail disposal network and facilities.
“Our teams share a similar culture and mission – we seek to forge relationships between customers, the environment and technology to create a more sustainable future for our region,” said Solterra CEO Ed Apuzzi. “Combining our operations gives us the benefit of IWS’s state-of-the-art recycling facilities and vertical integrated operations, while remaining a locally owned and operated business.”
“We have known the leadership team at Solterra for many years and are thrilled to join forces,” said Mike DiBella, chief executive officer of IWS. “We extend a warm welcome to nearly 300 Solterra employees and look forward to providing Solterra’s customers the same seamless service.”
Solterra Recycling Solutions was advised by Houlihan Lokey.
Financial terms of the transaction were not disclosed.
