Joseph LoConti and Michael DeGroote Lead Major Acquisition

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Joseph LoConti leads major Wall Street Acquisition

Joseph LoConti | Michael DeGroote: Republic Environmental Systems Inc. said yesterday that it had agreed to sell a majority stake to the Alliance Holding Corporation, which is to contribute its Century Surety Group in exchange for 7.5 million new Republic common shares and options to buy 2.1 million more. Republic's chief executive, Michael G. DeGroote, and H. Wayne Huizenga will each invest $5.25 million, receiving one million newly issued common shares apiece and options to buy up to three million more.

Republic, a waste cleanup company in Blue Bell, Pa., said it would move its headquarters to Cleveland, where Century is based. Alliance Holding is controlled by a group that includes Joseph E. LoConti, a director of Republic. Mr. Huizenga, chief executive of Republic Industries, does not currently have a stake in Republic Environmental, which was spun off by Republic Industries last year. Republic Environmental shares rose $5.375 yesterday, to $10, in Nasdaq trading.

For information please visit: JosephLoConti.com, thank you.

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