DES MOINES, Iowa, May 12, 2005 (PRIMEZONE) -- Mid America Recycling Company (MARC), one of the nation's largest multi-material recycling companies, in conjunction with its financial partner, Bolder Capital, today announced the purchase of Vista Fibers, headquartered in Dallas, TX. Vista Fibers, with five recycling plants in Dallas, Houston and San Antonio, Texas, and New Orleans and Hammond, Louisiana, is a long-time regional leader in the paper recycling industry. Vista Fibers, while now wholly owned by MARC, will retain its name.
"Vista Fibers is a very fine, well-operated company that will add significant value to our customers and shareholders," said Brian Meng, president of MARC. "The addition of their locations to our existing geographic plant structure offers our customers even greater flexibility in marketing recycled paper."
"In evaluating potential buyers, we found Mid America Recycling Company to most nearly reflect the values of Vista Fibers," said Tom Lyon, president of Vista Fibers. "We are thrilled to take Vista Fibers to the next level with Mid America Recycling."
"We are very excited to continue our strategy in the recycling industry in partnership with the outstanding leadership of Brian Meng and the MARC management team," said Todd Hamilton, Managing Director at Bolder Capital. "Mid-America's reputation as the industry leader will continue with the acquisition of Vista Fibers and its expansion in Texas and Louisiana."
About Mid America Recycling
Mid America Recycling, one of the nation's largest recycling companies with plants and facilities across America, is a multi-material recycling company processing more than 1 billion pounds of paper, plastics, metals and glass annually. From its corporate headquarters in Des Moines, Iowa, the company is pursuing an aggressive growth strategy while providing recycled materials for end users around the world. In addition to providing expertise in creating cost-effective, quality-driven recycling programs for waste haulers, landfills, cities and governments, the company also provides patented physical plant design, equipment manufacturing and environmental analysis. For more information please visit www.midamericarecycling.com.
About Bolder Capital
Bolder Capital is a private investment firm established to find and invest in middle market companies for long-term value creation. Bolder primarily co-invests with JZ Equity Partners and The Edgewater Funds (the "Co-Investors") and works closely with these funds or their advisors to find appropriate investments. Bolder Capital, the Co-Investors and their advisors bring over 50 years of combined investment experience and substantial financial resources of nearly $1.0 billion in capital. In addition, the Co-Investors and their advisors have extensive operating experience in a broad range of industries, having acquired or funded more than 400 companies. For more information please visit www.boldercapital.com