Tervita, LLC's Vertically Integrated Operations to Serve as Platform for Republic Services' Continued Growth in E&P Sector; Tervita Corporation to Focus on its Growing Canadian Operations
PHOENIX, Dec. 19, 2014 /PRNewswire/ -- Republic Services, Inc. (NYSE: RSG) and Calgary, Alberta-based Tervita Corporation announced today 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 United States.
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.
About Tervita Corporation:
Tervita Corporation is a leading North American environmental solutions provider. Its integrated earth, water, waste and resource solutions deliver safe and efficient results through all phases of a project by minimizing impact, maximizing returns.™ More than 3,000 dedicated employees are trusted sustainability partners to oil and gas, construction, mining, government and communities. Safety is its highest priority: it influences its actions and shapes its culture.
About Republic Services:
Republic Services, Inc. is an industry leader in U.S. non-hazardous recycling and solid waste. Through its subsidiaries, Republic's collection companies, transfer stations, recycling centers and landfills focus on providing reliable environmental services and solutions for commercial, industrial, municipal and residential customers. Republic and its employees believe in protecting the planet and applying common sense solutions to customers' waste and recycling challenges. For more information, visit the Republic website at republicservices.com.
For more detailed transaction information, visit Republic Services' Investor Relations pages, located on its website.
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SOURCE Republic Services, Inc.
For further information: Republic Services Media Inquiries: Darcie Brossart, (480) 627-2700, firstname.lastname@example.org, Republic Services Investor Inquiries: Brian DelGhiaccio, (480) 627-2741, email@example.com or Tervita Corporation Inquiries: Cam Hantiuk, (403) 234-4811, firstname.lastname@example.org