Situation
Rabanco was the fourth largest independent solid waste collection and disposal company in the United States, operating throughout Washington State. Rabanco’s business, which was structured as a complex web of legal entities, was majority owned and managed by the Razore family. The unfortunate circumstance of a serious health concerns with regard to Rabanco’s CEO coincided with a surge of consolidation activity in the waste industry and provided an impetus for investigating the possibility of a sale of the business.
ZS Role
Zachary Scott was engaged to assist the owners of Rabanco to investigate alternatives for management and ownership succession. Ultimately, the firm represented the owners of Rabanco in planning for and executing a sale of the business in a competitive auction process.
Results
Zachary Scott organized a quick, competitive process that ensured the best result for the Company’s shareholders. A merger was consummated with Allied Waste Industries (NYSE: AW), which was subsequently noted as the high water mark for acquisition valuations in the waste industry.