Covanta has completed acquisition of an undisclosed company that handles operations and maintenance of two energy-from-waste (EfW) facilities in West Palm Beach, Florida on behalf of Solid Waste Authority (SWA) of Palm Beach County.
Covanta paid $45 million, subject to adjustment and expects the incremental annual revenue contribution will approach $60 million.
Covanta CEO and president Stephen J. Jones said: “This acquisition is an excellent opportunity for us to apply our breadth of operating experience and maintenance capabilities to two high-performing EfW facilities in a market we know well.
“We look forward to building a strong and successful partnership with the Solid Waste Authority of Palm Beach County and are happy to be adding talented and experienced employees to the Covanta family.”
Covanta now operates eight EfW facilities in Florida with a combined 5.3 million tons-per-year of waste disposal capacity.
Solid Waste Authority of Palm Beach County executive director Mark Hammond said: “The Solid Waste Authority of Palm Beach County has built a world class integrated solid waste management system including two waste to energy facilities that process over 1.7M tons of municipal solid waste each year.
“We look forward to our partnership with Covanta and building upon their reputation for operational excellence to further enhance the Authority’s position as a worldwide leader in sustainable solid waste management.”
Source: Company Press Release