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US Ecology, Inc. has entered into a definitive stock purchase agreement to acquire The Environmental Quality Company (EQ), an environmental services and waste management company based in Wayne, Michigan, with facilities throughout the Eastern U.S. EQ is owned by an affiliate of New York based private equity fund Kinderhook Industries, LLC. The transaction, valued at $465 million, is expected to close in the second or third quarter of 2014 and is subject to customary closing conditions, and a purchase price adjustment based on working capital. The acquisition is expected to be accretive to adjusted earnings per share for the full year 2014.

The total purchase price of $465 million will be financed using a combination of cash on hand and committed debt financing, consisting of a new $540 million credit facility made up of approximately $415 million in a 7 year term loan and a $125 million 5 year revolving credit facility.

Published in the June 2014 Edition of American Recycler News

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Carpet America Recovery Effort (CARE) has named Brendan McSheehy as chairman of its board of directors.

McSheehy has participated on CARE’s board of directors since 2006, previously serving as vice chair and treasurer. He has 38 years of experience in the textile industry, and has been actively involved in carpet fiber recycling since 1993. He has worked with Bristol, Virginia-based Universal Fiber Systems LLC for more than 24 years, currently serving as vice president of innovation, sustainability and intellectual property.

Published in the June 2014 Edition of American Recycler News

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Meese Orbitron Dunne Co. (MOD), Ashtabula, Ohio, has named David McHugh and Don Fowler regional sales managers.

McHugh, offering 25 years of material handling experience, serves the northeastern territory, which encompasses New York, New Jersey, eastern Pennsylvania, Connecticut, Rhode Island, Vermont, Massachusetts, New Hampshire, Maine, Delaware, Maryland, Virginia and the Canadian provinces of Quebec, Newfoundland, Labrador, New Brunswick and Nova Scotia.

Fowler brings a wide range of expertise in plastics, packaging, warehousing and industrial safety to the southeastern territory, which encompasses Arkansas, Alabama, Mississippi, Georgia, Florida, North Carolina, South Carolina and Puerto Rico.

Published in the June 2014 Edition of American Recycler News

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Granutech-Saturn Systems has sold three of its mobile shredders to the U.S. Military, through the Defense Logistics Agency. The additional dual-shaft Saturn shredders have recently been deployed and will be used on military bases overseas in locations that include Okinawa, Guam and Hawaii.

Published in the June 2014 Edition of American Recycler News

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Morbark, Inc., continues to aggressively expand its dealer network domestically and internationally, signing contracts to establish nine new dealers and expand the equipment offerings of three existing dealers over the past year.  

New dealers Bobcat of Buffalo, Bobcat of Fort Wayne, Cubex, Ltd., Encon Equipment, Equipment Seekers, Goodfellow Corporation and Greenman Machinery Company, as well as existing Morbark industrial equipment dealer James River Equipment, became authorized dealers of Morbark tree care equipment, selling the company’s heavy-duty Beever line of brush chippers, as well as Morbark stump grinders.  

New dealers Suffolk County Brake Service, Goodfellow Corporation and AfrEquip, as well as existing Morbark tree care dealers Alexander Equipment Company and Ness Turf Equipment, are now official industrial equipment dealers, handling Morbark’s complete line of recycling and forestry machines, including biomass chippers, Chiparvestors®, flails and tub and horizontal grinders.

Published in the June 2014 Edition of American Recycler News

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Terex Construction Americas is making a strategic investment in its Terex® Fuchs material handler business, beginning in the second quarter of 2014. The company will significantly expand the Terex Fuchs sales force to broaden representation and support for its existing scrap distribution network and customers.

Leading the charge of the expanded field sales force initiative is Martin Gonzalez, newly appointed sales director for Terex Construction Americas. Gonzalez will have primary responsibility for the market expansion and sales initiatives for Terex Fuchs equipment in the Americas, as well as manage strategic programs for compact construction equipment sales and distribution in the Latin American region.

Published in the June 2014 Edition of American Recycler News

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