- Waste Management has acquired Springfield, IL-based Illini Disposal for an undisclosed amount, as reported by The State Journal-Register. The purchase includes Illini's commercial, residential and industrial operations.
- The company aims for a seamless transition with no anticipated service disruptions. Waste Management's logos will soon replace those of Illini Disposal, and customers will be notified at least two weeks in advance if Waste Management expects any service changes.
- 17 Illini employees have accepted employment offers from Waste Management while two employees declined the offer.
Another month, another acquisition from Waste Management. Just two weeks ago, the company announced its acquisition of Minnesota-based Blue Lakes Disposal and, in September, the acquisition of recycling assets from Milwaukee's Pioneer Industries. In addition to the company's efforts to win multiple contract agreements in various cities, Waste Management is strategically moving forward in its plans to strengthen its footprint even more across the nation.
In the company's third quarter earnings call, Waste Management COO Jim Trevathan explained that, due to larger acquisitions in the past three years ranging from $50 million to $75 million, it plans to pump the breaks on the bigger purchases moving into 2017. However, this does not mean it will slow purchasing down altogether.
"We’re going to have to go back ... to doing it one acquisition at a time, doing those $5 million to $25 million type of acquisitions and get our business developers to really go out and start getting some folks to build up those types of acquisitions," Trevathan said in the call. "We like to add somewhere between $25 million and $40 million of EBITDA next year, but we’ve got some work to do in order to get that done."
As Waste Management increase purchases, it is also making efforts to increase employee training and retention. Recently, the company partnered with California-based Civicorps Recycling to give residents employment opportunities and training through a driver apprenticeship program. Waste Management has also focused on employing veterans looking for industry jobs, making up 7% of its workforce.