NEW YORK, Sept. 2, 2020 – NewHold Enterprises, LLC (NewHold), a holding company focused on long-term ownership and acquisition-led growth of middle-market industrial and services companies, today announced American AllWaste LLC (AllWaste) acquired the assets of Highway Environmental, LLC (Highway), a major provider of non-hazardous, liquid-waste transportation services based in Chattanooga, Tenn. Financial terms of the transaction were not disclosed.
“Building the premiere, non-hazardous liquid waste business in the southeast United States is our top priority at AllWaste, and this acquisition gets us one step further toward that goal,” said Kevin Charlton, chairman of AllWaste and co-chairman of NewHold. “Highway has a seasoned management team with tremendous expertise in waste transportation and logistics. By bringing Highway into the AllWaste family, it further demonstrates our commitment to remain the acquirer of choice for regional, family-owned companies that seek liquidity.”
Highway’s footprint covers multiple southeastern and midwestern states, including Tennessee, Georgia, Alabama, Kentucky, Illinois, Texas, North Carolina, South Carolina, Arkansas, Mississippi, Virginia, West Virginia, Indiana and Louisiana. Though capable of handling a variety of waste streams, Highway maintains a particular focus on landfill leachate services.
“Since 2011, Matt McElhaney and his team have built Highway into a market leader throughout the region for non-hazardous, liquid waste transportation,” said American AllWaste CEO, Darrell Rogers. “Its ability to grow a substantial footprint, while maintaining exemplary service in a relatively short period of time, speaks volumes as to the strength and commitment of its management team and dedicated drivers. Adding Highway to our family of companies is an exciting opportunity to collaborate and help them achieve new levels of success.”
“With American AllWaste’s existing footprint in Tennessee, I’m confident this will be a winning combination for our customers and employees,” said Highway’s Founder and CEO, Matthew McElhaney. “The combination of our two operations will provide even greater opportunity and additional resources to continue our focus on customer service and growth. We’re ready to get started!”
About American AllWaste
AllWaste is an end-to-end service provider targeting the non-hazardous liquid waste industry. It provides service to municipal, commercial and industrial clients seeking solutions for the handling and proper disposal of non-hazardous liquid waste streams, maintenance and repair of infrastructure and periodic statutory testing. The company has operations in Texas (Houston, Austin and Beaumont) and Tennessee (Nashville, Memphis, Knoxville and Chattanooga). AllWaste anticipates expanding its regional footprint through organic growth and strategic acquisitions, while maintaining best-in-class service to its customers. www.allwastecorp.com.
NewHold is a holding company focused on long-term ownership and growth of North American, middle-market industrial and services companies. Established in 2017, NewHold operates through platforms which are built through acquisitions and organic growth of such companies. Each platform strategy is led by an experienced industry executive and is targeted to reach a minimum of $30 million to $50 million of EBITDA. NewHold’s investors consist primarily of family offices seeking long-term capital appreciation through ownership and growth of middle-market, industry-leading companies.