Birch Hill Platform to Buy Newalta Industrial Unit for C$300M
December 30, 2014
Revolution Acquisition, a company formed by Birch Hill Equity Partners, has agreed to acquire the Industrial Division of Newalta (TSX: NAL) for cash proceeds of C$300 million plus the assumption of the associated asset retirement obligation. The unit's 35+ locations include a lead-acid battery recycling facility and a nonhazardous solid waste landfill; its approximately 950 employees provide industrial-related onsite services to a variety of industries. The transaction is expected to close in the first quarter of 2015.