Waste Connections, Inc. (NYSE: WCN) has announced that it has entered into an agreement to acquire Harold LeMay Enterprises, Incorporated (“LeMay”). Founded in 1942, LeMay is the largest privately-owned solid waste services company in the Pacific Northwest with total annual revenue of approximately $100 million. LeMay provides solid waste collection, recycling and transfer services, a majority of which under exclusive G Certificates for the counties of Gray’s Harbor, Lewis, Pierce and Thurston. The transaction remains subject to customary closing conditions, including regulatory approval and receipt of local municipal consents. Closing is expected to occur in the fourth quarter of 2008.
Waste Connections also announced that it has entered into an agreement with entities affiliated with LeMay to acquire the remaining interests in Pierce County Recycling, Composting and Disposal, LLC (“PCRCD”), a provider of solid waste disposal, transfer, recycling and composting services, which is currently a majority-owned subsidiary of Waste Connections. Upon completion of this acquisition, PCRCD will become a wholly-owned subsidiary of Waste Connections.
“This represents the single largest acquisition for Waste Connections and solidifies our leading position in Washington. We are extremely excited about the prospects for our combined operations,” said Ronald J. Mittelstaedt, Chairman and Chief Executive Officer. “LeMay is one of the oldest and most respected solid waste services companies in the country. We recognize the trust the LeMay family has placed in us to carry forward its commitments to both their employees and the communities they serve.”
Waste Connections, Inc. is an integrated solid waste services company that provides solid waste collection, transfer, disposal and recycling services in mostly secondary markets in the Western and Southern U.S. The company serves more than 1.5 million residential, commercial and industrial customers from a network of operations in 23 states. The company also provides intermodal services for the movement of containers in the Pacific Northwest. Waste Connections, Inc. was founded in September 1997 and is headquartered in Folsom, California.
For more information, visit the Waste Connections website at www.wasteconnections.com