Thursday, April 17, 2014
OLD ORCHARD BEACH — Casella Waste Systems Inc., a solid waste and recycling services company, said it acquired 60-year-old Blow Bros. for $20 million in cash, plus additional stock.
Blow Bros., which operates in Maine and New Hampshire, generated about $20 million in revenues over the past 12 months. Blow Bros. operates out of seven locations and collects and transfers roughly 105,000 tons of solid waste and recyclables a year.
The deal will allow Casella the chance to handle additional waste and recyclables, and to consolidate operations, routes and transportation, the company said.
Blow Bros., known for its tagline "We're # 1 in the # 2 business," is expected to continue operating out of Old Orchard Beach.
Blow Bros. team "has built an exception solid waste company that is well regarded by its municipal, commercial and residential customers," said Casella Chairman and Chief Executive John Casella.
Blow Bros.'s "operations overlay well with our footprint in New Hampshire and Maine and we expect the acquisition to drive incremental value from our existing operations and provide a growth platform in several new markets," Casella said.
The deal closed Dec. 6, Casella said.