DTG Recycle adds its 10th MRF through the transaction and increases its container fleet to over 2,300 dumpsters.
DTG Recycle, a Mill Creek, Washington-based recycler of commercial, industrial, construction and demolition waste in the Pacific Northwest, has announced the acquisition of “substantially all assets” from Maltby Container and Recycling.
Maltby Container, based in Maltby, Washington, operates a fleet of recycling containers and a construction and demolition (C&D) material recovery facility (MRF) and is a demolition contractor. The transaction includes the sale of real estate assets Maltby Container operates on.
With this acquisition, DTG Recycle will increase its container division to over 2,300 dumpsters and a fleet of over 150 trucks. The acquisition also adds another King County designated C&D processing facility to its portfolio, consolidating its position as the operator of six out of eight facilities approved to receive mixed C&D material generated in King County and the city of Seattle.
This is DTG Recycle’s 10th MRF in the region. With the addition of Maltby Container, DTG Recycle says the company will further strengthen its position as the dominant C&D recycler in the Pacific Northwest.
“Tony McAuliffe [founder of Maltby Container] is a pioneer in the recycling industry and has built a strong business with loyal customers and even more loyal employees, and we are excited to be able to integrate this amazing business that Tony has built into the juggernaut that DTG Recycle has become in the Pacific Northwest,” says Dan Guimont, founder of DTG Recycle.
DTG Recycle will retain more than 30 Maltby Container employees following the acquisition, according to a release.
To help reduce the likelihood of major machine damage caused by certain metal contaminants entering the hammermill, Vermeer offers the Damage Defense system.
To help reduce the likelihood of major machine damage caused by certain metal contaminants entering the hammermill, Vermeer offers the Damage Defense system—an option available for tub grinders and horizontal grinders. If the mill comes in contact with metal while grinding, the Damage Defense system alerts the grinder control and automatically initiates the shutdown process. The system idles the engine down, reverses the infeed or tub and disengages the clutch. Once the contaminant is cleared, normal operation can resume.
“The optional Damage Defense system is ideal for any tub or horizontal grinder operation that may encounter metal mixed in their incoming material,” says Jeff Bradley, product manager for Recycling and Forestry equipment at Vermeer. “The system can be factory-installed on new Vermeer grinders and is available as a refitted option for many older Vermeer grinder models.”
The Vermeer Damage Defense system uses exclusive technology to reduce the possibility of severe damage when large metal objects enter the hammermill, and operators can easily adjust the sensitivity settings for job site conditions to help reduce nuisance shutdowns. It is integrated into the grinder’s controls system and features robust components and a weather-resistant box.
Built for land clearing and pipeline right-of-way operations, the HG6800TX horizontal grinder features a 950-horsepower (708-kilowatt) engine on a tracked machine with a compact design.
Built for land clearing and pipeline right-of-way operations, the HG6800TX horizontal grinder features a 950-horsepower (708-kilowatt) engine on a tracked machine with a compact design. Low sidewalls and an aggressive infeed system aid in feeding whole trees and other larger material with less restriction, reducing the need for operator interaction with the material. Let’s clear the way.
The Vermeer TG7000 tub grinder packs innovation and power for large land clearing projects and organic/wood waste processing applications.
The Vermeer TG7000 tub grinder packs innovation and power for large land clearing projects and organic/wood waste processing applications. It processes through wood waste quickly with the exclusive Vermeer duplex drum to minimize maintenance, a PT tech wet clutch with microprocessor to automatically limit torque when necessary, and a patented cutting system outfitted with 10 hammers and 20 double-bolt cutter blocks. Optional climate-controlled cab and grapple loader makes the TG7000 a one-man operation to help reduce labor costs and increase job site efficiency.
As part of the announcement of the closing of the $5.3 acquisition, Covanta also formally announced the appointment of Azeez Mohammed as president and CEO.
Covanta Holding Corp., Morristown, New Jersey, announced Nov. 30 that its previously reported $5.3 billion acquisition by the EQT Infrastructure V fund (EQT Infrastructure) has been completed. As part of the announcement, Covanta also formally announced the appointment of Azeez Mohammed as president and CEO.
Mohammed will work with Covanta’s full team, EQT and the company’s new board of directors to “embark on a bold program to generate compelling value for all stakeholders in an increasingly circular economy,” the company says. As part of this commitment, the deal was completed with the first sustainability-linked leveraged buyout (LBO) financing in the U.S., featuring environmentally focused KPIs with financial incentives attached to drive progress.
“I am excited to lead Covanta during this very transformational time,” Mohammed says. “Covanta has been a mainstay in the industry due to its talented team with deep domain experience in the sustainable waste disposal space; robust portfolio of sustainable, negative-carbon waste-to-energy assets; and growth platform in Covanta Environmental Solutions that provides premium disposal and recycling solutions to broader industrial wastes. Coupled with society’s growing momentum toward decarbonization and pursuit of circular alternatives for managing waste, this creates a compelling value creation story. I look forward to working with our talented team, stellar board and a growth and sustainable-minded owner in EQT to capitalize on our potential that ensures the preservation of our planet for future generations.”
EQT Infrastructure announced it will increase investments across the business, including:
“EQT has a proven track record of working with purpose-driven companies that are integral to the energy transition and growing circular economy, and we are very excited to partner with Azeez and the entire Covanta team. As the world faces ever-increasing waste challenges, EQT is committed to investing in critical community, operational and digital technology initiatives to enhance Covanta’s unique ability to provide sustainable, best-in-class solutions. Under EQT’s ownership, Covanta will continue to differentiate its service offerings, with a focus on innovation and sustainable energy,” Alex Darden, partner and head of EQT’s U.S. Infrastructure platform says.
First sustainability-linked LBO financing in the U.S.
Covanta’s sustainability-linked financing framework partners its sustainability strategy with its corporate financial strategy. Under the framework, Covanta pledges to meet two long-term goals to increase the total WTE processed, as well as waste recycled to reused materials, by 40 percent by 2030. These long-term goals are underpinned by two accompanying KPIs, which must be met by year-end 2025, compared to a 2020 baseline. The company would face significant financial penalties if it fails to meet the following targets:
Covanta tracks its long-term sustainability goals and annually publishes a report highlighting its progress and continued commitment to environmental, social and governance (ESG) initiatives. Alongside the closing announcement, Covanta released its 2021 Sustainability Report, which includes 2020 full-year data and in-depth analysis. Reported progress includes reduced greenhouse gas emissions, more waste diverted from landfills and expanded companywide employee resource groups.
New President and CEO Azeez Mohammed
Mohammed brings over 24 years of leadership experience at large global business units, including at major industrial companies. Most recently, he served as executive vice president at Bloom Energy where he was responsible for helping countries and customers make the transition from a fossil fuel to a renewable hydrogen economy. Prior to this position, he served as president and CEO of multiple power- and energy-oriented business units within GE, including GE Power Conversion, GE Power and GE Energy Services.