What We’re Doing

Waste360 Waste Expo 2019

On May 6th through 9th, Harris Williams’ Business Services team will attend the annual Waste360 Waste Expo in Las Vegas, NV. In attendance will be a wide variety of leading waste management and other commercial & industrial service providers exhibiting their unique products and solutions. The event serves as an opportunity for Harris Williams to see first-hand how businesses are evolving to tackle the ever-changing demands of the waste management industry.

Read more here

What We’re Reading

Advanced Disposal Services Acquired by Waste Management

screen_shot_2019-05-03_at_12.04.13_pm.pngWaste Management [NYSE:WM] has agreed to acquire its peer, Advanced Disposal Services [NYSE: ADSW] for a total enterprise value of $4.9bn, including debt. The acquisition will grow WM's asset footprint to serve more customers and communities and generate significant growth and value creation opportunities for shareholders. WM intends to finance the transaction using a combination of bank debt and senior notes. Subject to all regulatory approvals, the deal is expected to close in Q1 2020.

Read more here

 

JH Catering to be Acquired by ISS

screen_shot_2019-05-03_at_12.05.11_pm.png

"As of 10 April 2019, ISS Austria Holding Ltd, a subsidiary of ISS A/S, has acquired JH Catering Ltd from Graz. Based in Graz, JH Catering Ltd has a 27-year track record of commitment to service quality and innovation. Its core focus includes business catering at medium-sized and large companies, as well as snack services via workplace shops and vending machines."

Read more here

 

Recycling and Waste Solutions to Acquire Sustainable Solutions

screen_shot_2019-05-03_at_12.08.53_pm.png

Recycling and Waste Solutions (RWS), a provider of commodity recycling and waste services to the nation’s largest supply chains, announced the signing of a definitive agreement to acquire Sustainable Solutions Group (SSG), a company that provides and manages recycling, waste and sustainability programs for regional and national companies throughout North America.

Read more here

Public Comparables - Market Performance

Public Comparables 5-Year Price Index (‘14-’19)*

screen_shot_2019-05-03_at_12.10.07_pm.png

Public Comparables TEV/LTM EBITDA (‘14-’19)*

screen_shot_2019-05-03_at_12.10.44_pm.png

 As of March 31, 2019

 Source: FactSet

 

Public Comparables - Index

screen_shot_2019-05-03_at_12.11.57_pm.png

Information included in this industry update was sourced from Factset.

The information and views contained in this report were prepared by Harris Williams LLC (“Harris Williams”). It is not a research report, as such term is defined by applicable law and regulations, and is provided for informational purposes only. It is not to be construed as an offer to buy or sell or a solicitation of an offer to buy or sell any securities or financial instruments or to participate in any particular trading strategy. The information contained herein is believed by Harris Williams to be reliable but Harris Williams makes no representation as to the accuracy or completeness of such information. Harris Williams and/or its affiliates may be market makers or specialists in, act as advisers or lenders to, have positions in and effect transactions in securities of companies mentioned herein and also may provide, may have provided, or may seek to provide investment banking services for those companies. In addition, Harris Williams and/or its affiliates or their respective officers, directors and employees may hold long or short positions in the securities, options thereon or other related financial products of companies discussed herein. Opinions, estimates and projections in this report constitute Harris Williams’ judgment and are subject to change without notice. The securities and financial instruments discussed in this report may not be suitable for all investors and investors must make their own investment decisions using their own independent advisors as they believe necessary and based upon their specific financial situations and investment objectives. Also, past performance is not necessarily indicative of future results. No part of this material may be copied or duplicated in any form or by any means, or redistributed, without Harris Williams’ prior written consent.

Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. awaited). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.