Alterna Equity Partners Announces Acquisition of Bulk Express Transport

Alterna Equity Partners (“AEP”), a South Florida-based lower middle-market private equity firm, announced that it has completed the acquisition of the Bulk Express family of companies, comprised of Bulk Express Transport, Soil Tech Distributors, M3 Transport and Inter City Disposal (“Bulk” or the “Company”). The Company, headquartered in Miami, is a leading professional transportation and logistics services company providing long-haul transportation, collection, and loading of waste and other materials.

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For over 30 years, the Company has provided long-haul transportation services for municipal solid waste, recyclables, aggregates, construction & demolition debris, contaminated soils, ash, sludge and other specialty materials, as well as waste transfer station management, loading and unloading, and on-site landfill services. Bulk’s largest line of business is servicing major waste transfer stations by transporting various waste streams to landfills, waste-to-energy plants and recycling facilities, in addition to providing loading and unloading services. Customers include integrated waste services companies, environmental services companies, recyclers, manufacturing companies and municipalities. Bulk is Florida’s largest provider of long-distance waste hauling and operates a significant fleet comprised of tractors and trailers, dump trucks, tipper trailers, loaders, excavators, pneumatic tankers and roll-off trucks. Today, the Company serves its customers across its four operational hubs in Miami, Tampa, Orlando and Brooksville, FL.

AEP is partnering with key members of Bulk’s management team on the transaction as well as established industry veterans, Steve Worster and Vince Cornell. “We are excited to back a talented team at Bulk Express and look forward to continuing to expand upon the Company’s market-leading position and quality service offering provided to customers,” said Rob Konrad, Managing Partner at AEP.

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Incoming CEO, Steve Worster, further commented, “this new partnership opportunity with AEP will allow the Company to lead our market in making advancements toward reducing landfill input while also reducing carbon emissions. This segment of the market is in need of enhanced efforts to modernize and promote environmental sustainability in order to keep pace with the expectations of our customers and investors. AEP is committed to partnering with us in this effort.” Jack Montero, President of the Company and based in its Tampa location, stated, “I am excited about the opportunities presented by the new partnership and firmly believe that we are well-positioned for significant continued growth as the Company seeks new markets and opportunities.”

Greenberg Traurig acted as legal advisor to AEP, and Truist Bank and Cadence Bank provided financing for the transaction. Financial terms of the transaction were not disclosed.

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