OWEGO — Upstate Shredding, LLC and its sister business Ben Weitsman & Son, Inc. have announced the asset acquisition of Jack’s Recycling in Mt. Morris, Pa. Mt. Morris, Pa. is about 65 miles south of Pittsburgh near the West Virginia border. Upstate Shredding-Ben Weitsman, which says it’s the largest, privately owned scrap dealer on the […]
OWEGO — Upstate Shredding, LLC and its sister business Ben Weitsman & Son, Inc. have announced the asset acquisition of Jack’s Recycling in Mt. Morris, Pa.
Mt. Morris, Pa. is about 65 miles south of Pittsburgh near the West Virginia border.
Upstate Shredding-Ben Weitsman, which says it’s the largest, privately owned scrap dealer on the East Coast, didn’t release financial terms of the all-cash transaction, which will close within 30 days, the company said in a news release.
Founded in 1962, Jack’s Recycling will now be known as Ben Weitsman of Mt. Morris. It currently employs 11 people.
It is a “great strategic move” for expanding the firm’s reach throughout the Northeast following the announcements of two new shredders under construction in Albany … and New Castle, Pa., Adam Weitsman, owner of Upstate Shredding and Ben Weitsman, said in the news release.
“We do not yet have a location in this region of the Northeast so this acquisition is filling a great need to serve Mt. Morris and the surrounding regions,” said Weitsman.
The yard in Mt. Morris represents the 17th acquisition for Upstate Shredding-Ben Weitsman as the firm pursues a goal of 50 acquisitions, the company said.
Its recent acquisitions, “more than doubling its geographic-market reach,” have included Hornell Waste Material in Hornell and Valley Recycling in Allegany, Upstate Shredding said.
The company plans to continue expanding through acquisitions in the Northeast as 2014 continues, according to the release.
Owego–based Upstate Shredding-Ben Weitsman generated more than $500 million in revenue in 2012.