Russell Reid acquires pumping, hauling division of Aqua Resources

Russell Reid, a Keasbey-based waste management company, announced Tuesday it has acquired Aqua Resources’ pumping and hauling division.Aqua, a water utility, said in a prepared statement that it sold its Souderton, Pennsylvania-based division to focus more on core operations.

Financial terms were not disclosed.

The acquisition includes a leased building, nine tractors, eight vacuum trailers, 12 vacuum straight trucks and other miscellaneous equipment. The acquired vehicles will all be rebranded with the Russell Reid name and logos.

“We are pleased that the vast majority of Aqua’s dedicated and professional staff have become Russell Reid employees as well. The goal is to smoothly integrate their operations into ours and establish Souderton, Pa., as the newest service center for Russell Reid and Mr. John. In addition, to acquiring a solid book of commercial and industrial business, part of the acquisition agreement includes ongoing sludge hauling and disposal services to Aqua facilities,” Russell Reid President Gary M. Weiner said in a prepared statement.

“We are pleased with the outcome of this transaction and for our employees as well. Russell Reid will continue to be a leader in the wastewater hauling business and we wish them much success,” Aqua Resources’ President Anthony J. Donatoni said in a prepared statement.

“This acquisition immediately and significantly enhances the landscape of our tri-state service area and further demonstrates our ability to expand into new markets and achieve sustainable growth,” Weiner said in a prepared statement.