Macquarie Group portfolio company WCA Waste Corporation has purchased Automated Waste Services (AWS) for an undisclosed sum.
Macquarie fund Macquarie Infrastructure Partners II (MIP II) paid $525 million – or $6.50 per-share – for WCA in a transaction finalised in March 2012.
WCA, a ‘vertically nonintegrated, nonhazardous solid waste’ operation headquartered in Houston, had been publicly listed on the Nasdaq Composite Index.
The company in a press release praised AWS for its ‘local industry expertise’. Thirty-year-old Automated Waste is dedicated to providing solid waste, recycling and green waste collection in Missouri.
WCA Waste Corporation marked the second US waste management asset for Sydney, Australia-headquartered Macquarie. In 2008 Macquarie, using Macquarie Infrastructure Partners I (MIP I), bought Raleigh, North Carolina-based Waste Industries in a joint venture with Wall Street firm Goldman Sachs Group.
WCA named James Cowhey chief executive in January.