THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Thursday, February 22, 1996 TAG: 9602220444
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
SOURCE: BY TOM SHEAN, STAFF WRITER
LENGTH: Short : 41 lines
Republic Industries Inc., a waste-hauling and security-alarm company based in Fort Lauderdale, Fla., has agreed to buy a group of waste-hauling companies controlled by Dwight C. Schaubach, a veteran of waste-hauling businesses in Hampton Roads.
Republic, which has been acquiring waste companies around the country, said in a prepared statement that it will buy the Schaubach-owned companies through an exchange of stock.
Schaubach could not be reached Wednesday for comment on the transaction.
The Schaubach-owned companies include: Johns Brothers Inc., a Norfolk heating-oil and security-alarm company; Incendere Inc., which specializes in the disposal of medical waste; Area Container Service, a general waste-hauling company; ACS Environmental Inc., a company that specializes in the removal of asbestos and lead; and Smithson Sanitation, a North Carolina waste-hauling company.
Republic said the solid-waste companies being acquired from Schaubach have more than 11,000 customers in southeastern Virginia and eastern North Carolina. Incendere, it said, has more than 7,000 customers in the middle-Atlantic region.
Incendere and the other Schaubach-controlled companies that Republic is buying have combined annual revenues of $23 million, Republic said.
Republic has acquired at least 10 waste-hauling and security-alarm companies since last August, when billionaire H. Wayne Huizenga and a group of investors bought a stake in what had been Republic Waste Industries Inc. Huizenga's group moved the company's headquarters from Atlanta to Fort Lauderdale and shortened its name to Republic Industries. by CNB