Waste Connections Inc. (WCN:US) agreed to buy subsidiaries of R360 Environmental Solutions Inc for about $1.3 billion, adding oilfield waste-treatment services in the Permian, Bakken and Eagle Ford.
The transaction is expected to increase Waste Connection’s earnings by boosting profit from treating, recovery and disposal services for oil and natural-gas producers, the company said in a statement today.
“Through acquisitions and new facility development, R360 has created leading positions in key basins, providing closed loop oilfield waste services within an increasingly stringent regulatory environment,” Ronald J. Mittelstaedt, chairman and chief executive officer of Waste Connections, said in the statement. “This acquisition represents a natural extension of our existing E&P disposal activities.”
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