Waste Connections buying $1.08B in assets from Secure Energy Services

Waste Connections Inc. has signed a deal to buy a portfolio of 30 energy waste treatment and disposal facilities in Western Canada from Secure Energy Services Inc. for nearly $1.08 billion. The Waste Connections Inc. logo is shown in a handout. THE CANADIAN PRESS/HO

TORONTO — Waste Connections Inc. has signed a deal to buy a portfolio of 30 energy waste treatment and disposal facilities in Western Canada from Secure Energy Services Inc. for nearly $1.08 billion.

The assets represent all of the required divestitures mandated by the Competition Tribunal following Secure’s 2021 merger with Tervita Corp.

The deal includes 18 treatment, recovery and disposal facilities, six landfills, four saltwater disposal injection wells and two disposal caverns.

Waste Connections chief executive Ronald Mittelstaedt says they are a rare combination of high-quality, well-situated disposal and treatment assets with significant internal capacity for growth.

The deal is subject to customary closing conditions, including Competition Bureau approval.

It is expected to close during the first quarter of 2024.

This report by The Canadian Press was first published Dec. 11, 2023.

Companies in this story: (TSX:WCN, TSX:SES)

The Canadian Press

News from © The Canadian Press, 2023. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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