Waste Connections, Inc. announced the closing of the previously announced acquisition of the Secure Energy Services Inc. portfolio of 30 energy waste treatment and disposal facilities in Western Canada for an aggregate purchase price of CAD$1.075 billion. The transaction received Canadian Competition Bureau consent on January 30, 2024.
The assets acquired by the Company’s subsidiary, R360 Environmental Solutions Canada Inc., include 18 treatment, recovery and disposal facilities; six landfills; four saltwater disposal injection wells; and two disposal caverns and represent all of the required divestitures as mandated by the Canadian Competition Tribunal following Secure’s 2021 merger with Tervita Corporation. The oil and gas exploration and production waste disposal facilities acquired by R360 are strategically located in key geographic Canadian oil and gas basins and serve a diverse customer base largely oriented to production. The combined annual revenue acquired by the Company is currently estimated at approximately CAD$300 million.
“We are pleased to expand our R360 E&P waste operations into Canada, and we welcome the former Secure employees to the Waste Connections family,” said Ronald J. Mittelstaedt, President and Chief Executive Officer. “This acquisition will contribute to the outsized margin expansion for which we are positioned in 2024, given the disposal-oriented profile of the facilities.”