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TIDI Waste Systems in Morristown has been sold to a company based in Raleigh, N.C., according to owner George McGuffin.
Waste Industries began servicing customers on Jan. 1.
“TIDI Waste has been owned by the McGuffin family since 1971,” McGuffin said this morning. “We began operation in Morristown with one truck. We now provide commercial and industrial waste removal to six counties in the Lakeway Area. We also operate three landfills in Hamblen County.
“It has been our pleasure to be able to grow with this area the past 41 years and we are looking forward to Waste Industries continuing to provide this service in the future,” McGuffin said.
The three landfills operated by Lakeway Recycling and Sanitation, a Class 1 (Municipal Solid Waste), Class 2 (industrial), and a Class 3 (demolition) have also been purchased by Waste Industries.
“Operations will continue as TIDI Waste, a division of Waste Industries,” TIDI Waste co-founder George McGuffin said.
McGuffin added that the TIDI Waste leadership team, including he and sons Pat and Frank, have a signed a consulting agreement with Waste Industries for a period of 12 months. George will serve a consulting role for an additional 12 months.
“We are excited about the opportunity to serve you and thank you for welcoming us into your neighborhood,” said Mark Myers, Waste Industries director of sales and marketing.
“Currently, Waste Industries operates more than 36 collection operations with over a million service points across the United States, a number that is constantly growing as we rapidly expand our services to different states, counties, and communities,” Myers said. “Waste Industries is a proudly recognized leader in the garbage industry, continuing to be one of the fastest growing solid waste collection and recycling services in the Southeast.”
Waste Industries began operations in 1970 and built a foothold in eastern North Carolina by constructing sanitary landfills and opening collection operations throughout. By the mid-80s, Waste Industries had reached revenues exceeding $10 million and by the end of the 90s, the company reached $100 million in revenue and had taken the step to become a publicly traded company. Waste Industries stock was traded on the NASDAQ under the ticker WWIN for 11 years.
In 2008, Waste Industries, with the support of two prominent investment firms, Macquarie and Goldman Sachs, completed a take-private transaction.
TIDI Waste was founded by partners George McGuffin, Dick Jessee, Keith Purkey, the late Tim Grizzell and David Price.
McGuffin saw an opportunity with the change of federal laws on air pollution that disallowed all wood product manufacturers in the area from burning their wood waste. Every business that was affected by the new laws signed up in no time, according to George McGuffin in a 2012 statement.
“They didn’t know what to do and we were offering to haul their waste products to the landfill,” he said.
The company was purchased by McGuffin in 1980 and grew over the next decade, after the city of Morristown stopped doing commercial pickups.
“Places like McDonald’s needed the larger commercial waste containers,” George said.
The company was issued its first landfill permit in the 1990s and now operates three: Lowland, Sublett Road and Witt. The company operates 35 front loader and roll off trucks and has 70 employees. Operations are based on Ryder Lane in Morristown.
McGuffin’s two sons took on leadership roles within the company, Pat as president and Frank as vice president.
“My boys have stepped up and taken the reins. It’s been a real pleasure to see them grow. Not every father has the opportunity to work with his sons,” McGuffin said. “I’ve been lucky.”
TIDI Waste has been a community supporter since the beginning, with longstanding support of ALPS Adult Day Services (Judy McGuffin served on the building committee); KAB/KMHB; Morristown-Hamblen Central Services; Morristown City Center; Kingswood School; United Way of Hamblen County (Judy McGuffin served as chair in 1997); Project Graduation; C.E.A.S.E.; Girls Inc.; Hamblen County Car Club; Rose Center; YES; Morristown Hamblen Humane Society and M.A.T.S.
-From Staff Reports
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