Marriott & Co. Serves as Exclusive Financial Advisor to Potomac Landfill, Inc.
Richmond, Va. — Marriott & Co., a premier middle market investment banking firm based in Richmond, VA, is pleased to announce that it served as the exclusive financial advisor to Potomac Landfill, Inc. (“PLI” or the “Company”) in its sale of its Northern Virginia Waste division (“NOVA Waste”) to Industrial Disposal Services, Inc. (“IDS”), a leading construction waste transportation company headquartered in Manassas, VA. The transaction closed on May 4, 2018. Terms of the transaction were not disclosed.
Headquartered in Dumfries, VA, PLI is a regional provider of construction and demolition waste management services to commercial customers throughout the greater Washington, D.C. metro area. NOVA Waste, the business divested by PLI in the transaction, is a provider of waste transportation and logistics services utilizing a fleet of trucks and roll-off containers which are delivered and retrieved directly from customer construction sites throughout the region. The divestiture of NOVA Waste will enable PLI to focus on its core business of operating its landfill and transfer station, provide strategic funding for its planned expansion program, in addition to selling recycled materials through the Company’s Potomac Recycling division.
“This is an important transaction in the evolution of PLI as we continue to shift our focus to our core competencies of operating the landfill and transfer station,” said Phil Peet, President of PLI, “We look forward to continuing to grow our business by capitalizing on the strong demand drivers in our industry, and specifically within our geographic market.”
Added Chris Scott, Owner’s representative, “Marriott & Co. played a critical role in achieving this great outcome for PLI. They exceeded our expectations with the level of service, attention to detail and professionalism that they provided through every step of the process.”
Justin Marriott, Managing Director of Marriott & Co., said, “It was an absolute pleasure representing PLI on this very important transaction. We thoroughly enjoyed working with the entire PLI team and hope to work together again in the future.”
About Potomac Landfill, Inc.:
Founded in 1983 and headquartered in Dumfries, VA, PLI is a leading provider of construction and demolition debris waste management services to commercial customers throughout the greater Washington, D.C. metro area. The Company operates several distinct divisions, including Potomac Landfill, Alexandria Waste Recovery Facility and Potomac Recycling. Utilizing its strategically located landfill on Interstate 95 in Dumfries, VA and transfer station in Alexandria, VA, PLI provides exceptional service to its customer base which includes both private and public companies. For more information, please visit www.potomaclandfill.com.
About Industrial Disposal Services, Inc.:
Headquartered in Manassas, VA, IDS is leading construction waste transportation and recycling company serving the greater Washington, D.C. metro area. With a strong reputation for providing the highest level of customer service, innovation and integrity, IDS offers next-day service for roll-off containers and dumpsters to its expansive customer base throughout the region. In addition to its waste hauling services, IDS also provides complete LEED-certified recycling services through its affiliate Broad Run Recycling, which processes more than 600 tons of construction and demolition waste a day in its 26,000 square-foot facility. For more information, please visit www.idstrash.com.
About Marriott & Co.:
Headquartered in Richmond, VA, Marriott & Co. (www.marriott-co.com) is a premier, independent boutique investment-banking firm focused on advising privately-held companies across a wide variety of industries. The firm provides merger and acquisition advisory and capital raising services primarily to family-held businesses and entrepreneurial business owners in the middle market. Marriott & Co.’s unique entrepreneurial culture enables the firm to tailor its services to meet the needs of its clients, and the firm’s professionals have an unparalleled understanding of the challenges and opportunities facing these companies and their owners today. By delivering senior banker attention, a high-touch approach to client service and best-in-class process execution to every assignment it undertakes, Marriott & Co. has established a long track record of closing successful transactions for clients all over the U.S.
Contact: Justin Marriott
Phone: (804) 344-0952