Waste Connections Inc. said it has agreed to buy a waste and recycling firm that it didn’t identify but has annual revenue of about $75 million.
The Woodlands, Texas-based Waste Connections said it is acquiring an integrated solid waste collection, recycling, transfer and disposal service provider. The deal is subject to closing conditions, including regulatory approval. The company said in a news release it expects the transaction to close before the year’s end.
"This is a typical Waste Connections transaction: leading collection position in several suburban and rural markets; fully integrated with multiple landfills; and several long-term municipal contracts securing a large portion of the revenue base," said Ron Mittelstaedt, chairman and CEO of Waste Connections.
Waste Connections just released its third quarter results, in which it also disclosed several acquisitions. The company bought Shamrock Disposal, a solid and industrial waste collection and disposal firm in Duluth, Minn., as well as tuck-in acquisitions of collection operations in California, Oregon and Texas. The purchases added about $15 million in annualized revenue, the company said.
With the announcement, Mittelstaedt said that those deals and others that may close before the end of the year could provide 5 percent additional revenue growth in 2016.
Meanwhile, the company recorded small advances in net profits and revenue for its third quarter preliminary results.