Waste Management has expanded its reach with the $425 million acquisition of third-party hauler network Oakleaf Global Holdings.
WM says the combined companies will provide North American customers with unprecedented access to waste and recycling solutions by pairing the largest network of directly owned hauling, recycling, diversion and disposal assets with the largest managed third-party network.
Oakleaf has a vendor network of 2,500 preferred haulers, and says it is the North American leader in outsourced hauling, disposal, waste diversion and recycling services to support customers’ waste and recycling solutions. In 2010, the acquired operations of Oakleaf generated about $580 million in revenues.
With the acquisition, Waste Management CEO and president David P. Steiner says, "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,” Steiner adds.
WM expects a three to six month integration period. After the transition period, the company expects to generate a minimum of $80 million in EBITDA on an annualized basis.
