Third Party Waste Outsourcing Specialist Acquired for $425 Million
29 July 2011 Waste Management, Inc. has acquired waste haulage outsourcing specialist, Oakleaf Global Holdings and its primary operations for $425 million, subject to working capital and other adjustments. Oakleaf specialises in outsourcing haulage, disposal, waste diversion and recycling services in North America, and has vendor network of 2500 preferred haulers.In 2010, the acquired operations of Oakleaf generated approximately $580 million in revenues. According to Waste Management Inc. (WM), Oakleaf shares its strategic focus on sustainability and technological innovation, and its base of national accounts customers and service relationships provide a solid growth opportunity. WM said that this acquisition aligns with its financial goals of growing earnings, expanding margins, increasing free cash flow, and increasing returns on invested capital. The company expects a three to six month integration period. "We substantially increase our national accounts customer base and further enhance our ability to provide comprehensive, best-in-class environmental solutions. In addition, Oakleaf's vendor hauler network expands our service footprint to new geographies and enhances customers' one-stop shopping for environmental solutions," said Waste Management CEO and President, David P. Steiner. Sign up for Waste Management World's Free E-Mail Newsletters