M&A Deal Summary

Waste Connections Acquires Arrowhead Environmental Partners

On August 3, 2023, Waste Connections acquired environmental company Arrowhead Environmental Partners from Clairvest Group

Acquisition Highlights
  • This is Waste Connections’ 21st transaction in the Environmental sector.
  • This is Waste Connections’ 21st transaction in the United States.
  • This is Waste Connections’ 1st transaction in Alabama.

M&A Deal Summary

Date 2023-08-03
Target Arrowhead Environmental Partners
Sector Environmental
Buyer(s) Waste Connections
Sellers(s) Clairvest Group
Deal Type Add-on Acquisition
Advisor(s) Vedder Price P.C. (Legal)

Target

Arrowhead Environmental Partners

Uniontown, Alabama, United States
Arrowhead Environmental Partners offers a uniquely designed, high capacity, and environmentally sound disposal facility for customers, communities, and a wide range of industries across 33 states. Arrowhead Environmental Partners is based in Uniontown, Alabama.

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Buyer(S) 1

Buyer

Waste Connections

Woodbridge, Ontario, Canada

Category Company
Founded 1997
Sector Environmental
Employees22,539
Revenue 8.0B USD (2023)
DESCRIPTION
Waste Connections' corporate headquarters in The Woodlands, Texas.
Waste Connections' corporate headquarters in The Woodlands, Texas.

Waste Connections is an integrated solid waste services company that provides solid waste collection, transfer, disposal and recycling services in mostly exclusive and secondary markets. Waste Connections was incorporated in 1997 and is headquartered in Woodbridge, Ontario.


DEAL STATS #
Overall 22 of 22
Sector (Environmental) 21 of 21
Type (Add-on Acquisition) 16 of 16
State (Alabama) 1 of 1
Country (United States) 21 of 21
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-15 Lone Star Disposal

Houston, Texas, United States

Lone Star Disposal is a provider of construction and demolition (“C&D”) and municipal solid waste (“MSW”) disposal and related environmental services. The Company’s comprehensive service platform utilizes an asset base consisting of a C&D landfill, an MSW transfer station, a C&D recycling facility, and a C&D collection fleet. Lone Star Disposal is based in Houston, Texas.

Buy -

Seller(S) 1

SELLER

Clairvest Group

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 4.5B CAD
Size Large
Type Sector Agnostic
DESCRIPTION

Clairvest Group is a generalist Canadian private equity firm focused on mid-market businesses with C$10 to C$50 million of EBITDA. While Clairvest does not have any sector preferences, the Firm prefers fragmented sectors with recurring revenue business models and economies of scale. Clairvest will consider both minority and majority investment positions and invests in the range of C$25- C$100 million per transaction. Clairvest was formed in 1987 and is based in Toronto.


DEAL STATS #
Overall 28 of 31
Sector (Environmental) 5 of 6
Type (Add-on Acquisition) 12 of 15
State (Alabama) 1 of 1
Country (United States) 15 of 17
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-06 Mountain Land

Salt Lake City, Utah, United States

Mountain Land is an outpatient physical therapy business with 41 clinics located in the Mountain West region of the United States. Mountain Land was founded in 1984 and is headquartered in Salt Lake City, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-04 NexTech Solutions

Tampa, Florida, United States

NexTech Solutions provides integrated systems engineering, testing and evaluation, and operational support using hardware, software and subject matter experts to support U.S. DoD missions. NexTech Solutions is focused on developing cutting-edge technology, products, and mission support solutions for the warfighter. NexTech Solutions was founded in 2013 and is based in Tampa, Florida.

Buy -