Waste Connections

Waste Connections Inc.
Public
Traded as NYSE: WCN
TSX: WCN
Industry Waste management
Founded 1997 in Folsom, California
Headquarters

The Woodlands, Texas

Vaughan, Ontario
Key people
 Ronald J. Mittelstaedt, CEO
Revenue $3.4 Billion
Number of employees
 15,000
Subsidiaries

Waste Connections of Canada

R360 Environmental Solutions
Website wasteconnections.com

Waste Connections, Inc. is an North American integrated waste services company that provides waste collection, transfer, disposal and recycling services, primarily of solid waste. It has operations in both the United States and Canada, and has headquarters in The Woodlands, Texas and Vaughan, Ontario. It is the third largest waste management company in North America.[1]

History

The company was founded in 1997, by a group of professionals in Washington and Idaho with industry related experience. Waste Connections, Inc. expanded very quickly. Within about a year of its founding the company decided to go public, launching its IPO in May 1998. The company then slowly expanded into California and the western United States. As of 2011, It had operations in 32 of the 50 U.S states. In December 2011, the company announced that it was moving its headquarters from Folsom, CA to The Woodlands, Texas, a suburb of Houston. Chief Executive Officer, Ron Mittelstaedt, cited California's high taxes and dysfunctional legislature as key reasons for the move.[2]

In September 2012, it acquired R360 Environmental Solutions, a Texas waste company specializing in the oil industry.[3] In January 2016, Waste Connections bought Progressive Waste Services of Canada for $2.67 billion.[1] Under the deal, Waste Connections shareholders received 70% of the new company, which moved its tax headquarters to Canada.[1] It later re-branded its Canadian division Waste Connections of Canada. In January 2017, it acquired privately held Illinois waste firm Groot Industries for approximately $400 million.[4]

Operations

Waste Connections's primary business is to provide solid waste collection and disposal services. It most often does this through contracts with municipalities to collect the waste in that municipality, for an agreed-upon rate.[5] It also provides services directly to residential, commercial, or industrial customers. In addition, Waste Connections runs landfills for waste disposal (68 solid waste landfills as of December 2016).[6][7]

In Q3 2017, 67% of revenue was from solid waste collection, 21% from solid waste disposal and transfer, 4% from recycling, 5% from its oil industry waste operations, and 3% from other sources.[6] 16% of revenue was from Canada, with the rest from the United States.[6]

Corporate structure and leadership

Waste Connections' senior leadership is structured as follows:

  • Ronald J. Mittelstaedt, CEO and Chairman
  • Steven F. Bouck, President
  • Darrell W. Chambliss, Executive Vice President and COO
  • Worthing F. Jackman, Executive Vice President and CFO

References

  1. 1 2 3 "Waste Connections to buy Canada's Progressive Waste for $2.67 billion". Reuters. 2016-01-19. Retrieved 2018-01-23.
  2. ↑ "Folsom-based Waste Connections to move headquarters to Texas". McClatchy.
  3. ↑ "Waste Connections buying R360". San Antonio Express-News. Retrieved 2018-01-23.
  4. ↑ "Waste Connections to Acquire Groot Industries". Waste360. 2017-01-04. Retrieved 2018-01-23.
  5. ↑ Schlinkmann, Mark. "O'Fallon, Mo., council overrides mayoral veto of waste transfer deal". stltoday.com. Retrieved 2018-01-24.
  6. 1 2 3 "SEC Filings". Waste Connections, Inc. | Investors. Retrieved 2018-09-21.
  7. ↑ Agrawal, Nina. "Controversial landfill in northern L.A. County to be expanded". latimes.com. Retrieved 2018-01-24.
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