M&A Deal Summary

Waste Connections Acquires R3 Treatment

On September 17, 2012, Waste Connections, Inc. acquired environmental company R3 Treatment, Inc.(dba R360 Environmental Solutions, Inc.) from Blue Sage Capital, Tinicum Capital Partners and Paine Schwartz Partners for 1.3B USD

Acquisition Highlights
  • This is Waste Connections’ 13th transaction in the Environmental sector.
  • This is Waste Connections’ 1st largest (disclosed) transaction.
  • This is Waste Connections’ 13th transaction in the United States.
  • This is Waste Connections’ 1st transaction in Texas.

M&A Deal Summary

Date 2012-09-17
Target R3 Treatment, Inc.(dba R360 Environmental Solutions, Inc.)
Sector Environmental
Buyer(s) Waste Connections, Inc.
Sellers(s) Blue Sage Capital
Tinicum Capital Partners
Paine Schwartz Partners
Deal Type Add-on Acquisition
Deal Value 1.3B USD

Target

R3 Treatment, Inc.(dba R360 Environmental Solutions, Inc.)

The Woodlands, Texas, United States
website
R360 Environmental Solutions, Inc. is an environmental oilfield waste management provider. It provides non-hazardous oilfield waste treatment, recovery and disposal services in several of the most active natural resource producing areas in the United States, including the oil-rich Permian, Bakken and Eagle Ford Basins.

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Buyer(S) 1

Buyer

Waste Connections, Inc.

Vaughan, Ontario, Canada

website


Category Company
Founded 1997
SectorEnvironmental
Employees18,933
Revenue 5.4B USD (2020)
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 formed in 1997 and is based in The Woodlands, Texas.


DEAL STATS #
Overall 13 of 20
Sector (Environmental) 13 of 20
Type (Add-on Acquisition) 8 of 14
State (Texas) 1 of 2
Country (United States) 13 of 19
Year (2012) 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-05 Alaska Waste Mat-Su LLC

Wasilla, Arkansas, United States

Alaska Waste is the dominant independent waste collection company in Alaska, serving over 82,000 residential and commercial customers providing trash, recycling, and composting services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-05 Rock River Environmental Services, Inc.

Rockford, Illinois, United States

Rock River Environmental Services, Inc. is an integrated provider of solid waste collection, recycling, transfer and disposal services.

Buy -

Seller(S) 3

SELLER

Blue Sage Capital

Austin, Texas, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2003
PE ASSETS 300M USD
SizeMiddle-Market
Type Sector Agnostic
DESCRIPTION

Blue Sage Capital is a private investment firm that invests in lower middle-market companies that have the potential to become market leaders. Target businesses typically generate sales of $20 to $125 million and are valued up to $125 million. Blue Sage is a generalist firm with broad industry interest. Target sectors include industrial, distribution, service, healthcare, manufacturing, energy and media. Blue Sage geographically prefers companies located in Texas and the Southwest US. Blue Sage will not invest in banks, life insurance companies, oil and gas exploration and development projects, real estate development or companies located outside of the United States. Blue Sage was formed in 2003 and is based in Austin, Texas.


DEAL STATS #
Overall 5 of 17
Sector (Environmental) 1 of 1
Type (Add-on Acquisition) 3 of 11
State (Texas) 3 of 7
Country (United States) 4 of 16
Year (2012) 2 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-01 Ashbrook Simon-Hartley Ltd.

Newcastle-under-Lyme, United Kingdom

Ashbrook Simon-Hartley is a liquid/solid separation technology company and provides solutions for dewatering, process systems or fluid control requirements.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-24 Visual Merchandising, Inc.

Broomfield, Colorado, United States

Visual Merchandising, Inc. is an innovative designer, manufacturer, and distributor of custom mannequins, forms, and other visual merchandising products to the global retail industry.

Sell -
SELLER

Tinicum Capital Partners

New York, New York, United States

website


Category Private Equity Firm
Founded 1998
PE ASSETS 1.6B USD
SizeLarge
Type Sector Agnostic
DESCRIPTION

Tinicum Capital Partners is a private equity group that seeks to acquire control of companies through acquisitions or restructurings or to take minority stakes in public or private companies through equity or debt securities. Tinicum's target equity investment size is between $30 and $150 million per transaction. Sectors of interest include aerospace; HVAC components; medical devices; financial services; specialty industrial products or components; pumps, valves and other process control equipment; specialty machinery; electrical equipment; motors and motion control equipment; specialty metals/magnetics; and media/advertising. The Firm will not consider investments in venture capital, real estate, or unproven technology. Tinicum was formed in 1998 and is based in New York City.


DEAL STATS #
Overall 15 of 21
Sector (Environmental) 1 of 1
Type (Add-on Acquisition) 8 of 11
State (Texas) 2 of 3
Country (United States) 13 of 19
Year (2012) 3 of 3
Size (of disclosed) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-12 Forum Energy Technologies, Inc.

Houston, Texas, United States

Forum Energy Technologies is a provider of manufactured technologies and applied products to the energy industry, serving the subsea, drilling, completion, production, and flow control segments.Forum Energy Technologies was founded in 2005 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-01 Consolidated Aerospace Manufacturing LLC

Fullerton, California, United States

CAM is a group of manufacturers supplying components principally to the aerospace industry. CAM's products include fasteners, fittings, couplings, latches, quick release pins, tubing subassemblies and other complex components and assembled products. CAM was formed in 2012 and is based in Fullerton, California.

Buy -
SELLER

Paine Schwartz Partners

San Mateo, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2006
PE ASSETS 5.0B USD
SizeMega
Type Sector Focused
DESCRIPTION

Paine Schwartz Partners is a private equity firm specializing in sustainable food chain investing. The Firm targets control investments in the food and agriculture sectors and will consider opportunities globally. Paine Schwartz Partners was formerly known as Paine & Partners - and before that was part of Fox Paine & Co. Paine Schwartz Partners has offices in San Mateo, California and New York City.


DEAL STATS #
Overall 13 of 26
Sector (Environmental) 1 of 1
Type (Add-on Acquisition) 4 of 10
State (Texas) 1 of 1
Country (United States) 9 of 16
Year (2012) 1 of 1
Size (of disclosed) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-10 Verdesian Life Sciences LLC

Cary, North Carolina, United States

Verdesian Life Sciences LLC is a provider of plant health, inoculants, seed treatment, and nutrition. Verdesian’s plant-health products, nutritional catalysts, and seed treatments/inoculants help growers farm more efficiently to maximize yields. Verdesian Life Sciences was founded in 2012 and is based in Cary, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-29 Eurodrip S.A.

Boeotia, Greece

Eurodrip S.A. is a manufacturer and supplier of integrated drip irrigation solutions for agricultural and landscaping applications. Its products include integrated drip line solutions, flat and round drippers, blank tubes and other irrigation products. Eurodrip was founded in 1979 and is based in Boeotia, Greece.

Buy -