Trash Collectors May Be Coming for Mom-and-Pops

Date : 04/15/2019 @ 6:15PM
Source : Dow Jones News
Stock : Advanced Disposal Services, Inc. (ADSW)
Quote : 32.48  -0.25 (-0.76%) @ 9:00PM

Trash Collectors May Be Coming for Mom-and-Pops

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1 Month : From Mar 2019 to Apr 2019

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By Lauren Silva Laughlin 

The garbage big boys are bulking up. On Monday, the largest U.S. trash collector, Waste Management, picked off the fourth-heftiest in the sector, Advanced Disposal Services, in a $2.9 billion deal. Recent consolidation leaves only small players to scoop up.

Nearly a fifth of the industry is made up of private companies with annual revenue of less than $100 million, according to Oppenheimer. Acquisition sizes are tiny -- for Waste Management, smaller deals in existing markets run about $3 million. An industry roll-up in the past decade left 4,000 private operators.

Pressure to consolidate remains intense. China recently reduced the buying of recycled cardboard, which sent prices plummeting. As a result, companies such as Waste Management have been forced to look at how municipalities pay for services, among other things.

Going into a new town with some muscle can't hurt. With recent tax changes keeping valuations afloat, Waste Management's trash binge probably won't stop.

Write to Lauren Silva Laughlin at


(END) Dow Jones Newswires

April 15, 2019 13:00 ET (17:00 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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