ADS Waste Holdings, Inc. has filed its paperwork with the Securities and Exchange Commission to come public via an initial public offering. The offering is for common shares, but the number of those shares and the price range have not been set.
The proposed maximum offering was set at $100 million, but this number can be ratcheted higher or lower ahead of and into the actual offering. ADS Waste said that it will apply for the stock ticker “ADSW” but the NYSE or NASDAQ was not specified.
ADS Waste said that Deutsche Bank, Credit Suisse and Barclays will be its lead book-running managers in the initial offering. Other book-running managers were listed as BofA Merrill Lynch, Macquarie, Morgan Stanley and UBS. Additional co-managers were listed as Wells Fargo and First Analysis Securities.
ADS Waste is the parent of Advanced Disposal. The company is a provider of non-hazardous solid waste collection, transfer, recycling and disposal services. The company operates primarily in secondary markets or under exclusive arrangements. ADS has a presence in 18 states across the Midwest, South and East regions of the United States. It also serves some 2.8 million residential and 202,000 commercial and industrial customers. ADS’ network consists of 92 collection operations, 75 transfer stations, 23 owned or operated recycling facilities and 39 owned or operated landfills.
ADS is a new larger company which transformed via a $1.9 billion acquisition of Veolia ES Solid Waste in 2012. It said in the filing that it has been awarded 109 new long-term and exclusive municipal contracts. Since the Veolia acquisition, ADS has executed 33 tuck-in acquisitions, primarily of collection operations
For the twelve months ended June 30, 2015, ADS generated revenues of $1.4 billion, adjusted EBITDA of $385.5 million and cash flow from operations of $271.1 million.
Some of the industry strengths cited in the filing are why 24/7 Wall St. has both Republic Services and Waste Management as available picks for the 10 Stocks to Own for the Next Decade.
It’s Your Money, Your Future—Own It (sponsor)
Are you ahead, or behind on retirement? For families with more than $500,000 saved for retirement, finding a financial advisor who puts your interest first can be the difference, and today it’s easier than ever. SmartAsset’s free tool matches you with up to three fiduciary financial advisors who serve your area in minutes. Each advisor has been carefully vetted and must act in your best interests. Start your search now.
If you’ve saved and built a substantial nest egg for you and your family, don’t delay; get started right here and help your retirement dreams become a retirement reality.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.