November 9, 2015
Waste Connections Inc. completed and identified its previously announced acquisition of a $75 million waste hauler: Rock River Environmental Services Inc., of Rockford, Ill.
The Woodlands, Texas-based Waste Connections purchased Rock River, described as an integrated provider of solid waste collection, recycling, transfer and disposal services, for an undisclosed amount, according to a news release. Rock River serves 19 counties in central and northern Illinois and includes five collection operations, two landfills, one compost facility, one transfer station and one recycling facility.
"We are extremely excited to welcome Rock River into the Waste Connections family and look forward to furthering Rock River's commitments to the customers and communities it serves,” said Ron Mittelstaedt, Waste Connections chairman and CEO. “As a large integrated services provider with leading positions in suburban and rural markets, Rock River should provide us with a platform for additional organic and acquisition growth opportunities, potentially doubling its size within five years."
Waste Connections first announced the proposed purchase in late October but did not identify the hauler.
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.