WM has acquired the residential and commercial operations HBS Trash Services, a private equity-backed provider of curbside and roll-off services in Colorado. The deal closed on June 1.
HBS, which offers dumpsters and roll-offs for job sites such as new home builds, home remodels, home clean-outs and commercial construction projects, has been in business since 1987, according to its website. HBS plans to continue its contractor services and its roll-off dumpster rental operations.
Before the deal, HBS offered residential waste and recycling collection services for 11 cities along Colorado’s Front Range region. That includes several Denver suburbs such as Littleton and Lakewood as well as the cities of Parker, Castle Rock, Elizabeth and Kiowa. It also offered commercial collection services, according to its website.
In a letter to customers, HBS said it chose WM to take over its residential and commercial operations so that HBS could “return to our origins — refocusing our energy and expertise on the home building industry where our journey first began.”
HBS’ parent company is Eagle River Capital, a Colorado-owned private equity firm launched in 2017 with a focus on acquiring solid waste collection companies in the West. By 2022, it had acquired eight businesses, co-founder and partner Eric Miller told Waste360 in 2022. In May 2025, HBS acquired Blue Ribbon Disposal, a local hauler operating outside Colorado Springs.
WM already has a major presence in Colorado and the Front Range region. It acquired Greeley-area Northern Colorado Disposal in 2019, and it sold some of its Steamboat Springs-area hauling sites and a transfer station to Apex Waste in 2024. WM expects to open a new MRF in the Denver area in July, COO Tara Hemmer said during the Waste Leadership Summit on June 10. Several other haulers, including Republic Services and Waste Connections, have also been active in Colorado in recent years.
The HBS acquisition is notable for WM, which has been relatively quiet in the M&A front for a few quarters as it focuses on its integration of Stericycle assets into its Healthcare Solutions segment.
WM did not log any acquisitions in Q1 2026, but CFO David Reed told analysts during WM’s May earnings call that the company planned to close a few tuck-in deals by the end of the year. WM expects to spend between $100 and $200 million on M&A in 2026. WM completed its acquisition of Waste Resources in California in May.
