CANADA- Republic Services, Inc. and Calgary, Alberta-based Tervita Corporation announced that the companies have entered into a definitive agreement whereby a subsidiary of Republic Services will acquire Tervita, LLC (Tervita), a subsidiary of Tervita Corporation. Tervita is a leading pure-play environmental waste solutions provider serving oil and natural gas producers in the US.
Tervita’s geographic footprint spans across some of the most attractive domestic basins, including the Permian, Eagle Ford and Bakken. Tervita provides oilfield waste services to its diverse customer base and operates three types of waste management and disposal facilities: treatment, recovery and disposal (TRD) facilities; engineered landfills; and salt water disposal (SWD) injection wells. Additionally, Tervita provides closed loop solids control systems and transportation services.
“The acquisition of this vertically integrated operation allows Republic Services to establish a significant platform in the E&P waste sector and positions us well for future growth opportunities,” said Donald W. Slager, president and CEO of Republic Services. “Additionally, Tervita’s environmentally committed operations complement our core competency and expertise in waste handling, recovery and disposal.”
“Over the last decade we have built a broad U.S. footprint with a strong reputation for high quality services, a deeply experienced employee base and a strong commitment to safety,” said Tervita Corporation President & CEO, John W. Gibson, Jr. “As we now focus our strategic efforts on growing our expansive Canadian operations, we believe that Republic Services, a company with high expertise and integrity, is best positioned to realize Tervita’s U.S. growth potential.”
Tervita, through its approximately 500-person skilled U.S. workforce, has an exceptional track record of safety and regulatory compliance across its entire operational footprint. Tervita is committed to operational best practices and has reinforced its strong reputation as a reliable, high quality service provider.
J.P. Morgan Securities LLC acted as exclusive financial advisor to Republic Services and Goldman, Sachs & Co. acted as exclusive financial advisor to Tervita Corporation on this transaction.