Waste Connections Adds Territory

Trash-handling company Waste Connections Inc. has agreed to acquire some Southeast U.S. assets of a unit owned by Waste Management Inc. The purchase price was not disclosed.

Waste Connections (NYSE: WCN) said the assets, which provide waste collection, transfer and disposal services, represent about $22 million in additional annual revenue, bringing the Folsom-based company's year-to-date annualized revenue added through acquisitions to $50 million. The company had more than $800 million in revenue over the past four quarters.

The transaction is expected to close within 60 days.

In May, Waste Connections purchased franchise operations serving El Dorado County from its larger competitor, Houston-based Waste Management (NYSE: WMI), for an undisclosed amount.

Waste Connections also said it refinanced its senior credit facility, cutting it from $850 million to $750 million at a lower interest rate and extending its maturity by one year to Jan. 2012.

Sacramento Business Journal - 11:12 AM PST Friday